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Get filing alertsMoleculin raises $27M, extends runway to Q3 2026; MIRACLE trial delayed 6 months
Filed March 18, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 21, 2025 · ~2 min read
Key Changes
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MIRACLE trial interim data pushed from end-2025 to mid-2026, second unblinding from H1 2026 to H2 2026—a six-month delay affecting visibility into pivotal AML registration trial results.
Business: MIRACLE trial timeline verify on EDGAR → -
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Company raised $27.3M in 2025 via warrant inducements and ATM sales (vs $4.6M in 2024), extending cash runway into Q3 2026. Warrant coverage ratios reached 300-400%, materially increasing dilution risk.
MD&A: Financing activities verify on EDGAR → -
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Outstanding warrants surged 48% in two months (7.9M at Dec 2025 to 12.7M at Feb 2026). Certain warrants contain full-ratchet anti-dilution provisions that reset exercise prices downward if new equity is issued below current strikes.
Risk Factors: Warrant dilution verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Source-verified from EDGAR · Narrative written by AI · Jun 4, 2026 · How we verify