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Moleculin to raise $9M

Moleculin Biotech, Inc. is looking to raise $9 million via the sale of 4.29 million shares at $2.10 each.

Each share comes bundled with half of a purchase warrant. Each whole warrant can be exchanged for a stock of Moleculin Biotech for $2.80.

The Houston-based pharmaceutical company, which is developing treatments for cancer, will use funds to continue development of its product pipeline.

The offering is expected to close by Feb. 21 with Roth Capital Partners serving as sole placement agent.