Moleculin Biotech rises after EMA approves late-stage study of cancer therapy

Shares of drug developer Moleculin Biotech MBRX.O rise 11.4% to $1.17 premarket

Co says European Medicines Agency (EMA) has approved its application to conduct late-stage study to test its experimental drug, Annamycin

Annamycin is potential treatment for acute myeloid leukemia - type of blood and bone marrow cancer

Co expects to read out interim late-stage study data in H2

Annamycin also received "fast track" and "orphan drug" designation from U.S. FDA

As of last close, MBRX down 38.2% YTD