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Molecular Templates, Inc. - MTEM STOCK NEWS

Welcome to our dedicated page for Molecular Templates news (Ticker: MTEM), a resource for investors and traders seeking the latest updates and insights on Molecular Templates stock.

Molecular Templates, Inc. (Nasdaq: MTEM) is a clinical-stage biopharmaceutical company dedicated to the discovery and development of targeted therapeutics for oncology. The company leverages its innovative proprietary platform, engineered toxin bodies (ETBs), which are designed to selectively target and kill tumor cells, offering a novel approach to cancer treatment.

MTEM's leading immunotoxin, MT-3724, is in clinical development for non-Hodgkin's lymphoma. In addition to MT-3724, the company's robust pipeline includes MT-6402, targeting PD-L1, and MT-8421, targeting CTLA-4, both aimed at different forms of cancer. MT-0169, another advanced candidate, targets CD38 and is being developed for potential use in various oncology indications.

Recently, MTEM announced significant progress in its clinical trials. The first patient has been dosed in a Phase 1 clinical trial of MT-8421 for the treatment of advanced solid tumors. This study is a multi-center, open-label, dose-escalation trial designed to evaluate the safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary efficacy of MT-8421. The trial will enroll patients with tumors where CTLA-4 inhibitors have shown benefits, including melanoma, hepatocellular carcinoma, non-small cell lung cancer, and others.

MT-6402, another promising candidate, has shown encouraging results in Phase 1 studies, particularly in heavily pre-treated head and neck cancer patients. The drug demonstrated objective responses and evidence of tumor regression in patients who had progressed on multiple lines of treatment.

Financially, MTEM reported third-quarter 2023 revenues of $6.8 million, reflecting a notable increase from the previous year, driven primarily by collaborative research and development agreements. However, the company continues to operate at a net loss, with efforts focused on reducing operational costs and extending its cash runway into the second quarter of 2024.

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Molecular Templates, Inc. (Nasdaq: MTEM) reported Q3 2023 financial results and business updates, highlighting initiation of expansion study with MT-6402 and phase I study for MT-8421 and MT-0169. The company continues to demonstrate novel mechanisms of action and single agent activity in heavily relapsed/refractory patients, with a focus on preclinical activities related to Bristol Myers Squibb collaboration.
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Molecular Templates has announced the dosing of the first patient in a Phase 1 clinical trial for MT-8421, a novel engineered toxin body targeting CTLA-4, for the treatment of advanced solid tumors. The study aims to evaluate safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary efficacy. The trial will enroll adult patients with tumors where CTLA-4 inhibitors have shown benefit and other select tumor types. Approximately 24-30 patients are expected to enroll in the dose escalation phase.
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Molecular Templates, Inc. (Nasdaq: MTEM) will be participating in several upcoming investor conferences. The UBS Biopharma Conference will take place on November 8-9, 2023, at The Fontainebleau Hotel in Miami, FL. The Stifel Annual Health Care Conference will be held on November 15, 2023, at the Lotte New York Palace Hotel in New York, NJ, with a live presentation and one-on-one meetings. The Evercore ISI 6th Annual HealthCONx Conference will occur on November 28-30, 2023, at the Kimpton Epic Hotel in Miami, FL.
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Molecular Templates appoints Dr. Maurizio Voi as Chief Medical Officer, bringing extensive oncology drug development experience.
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Molecular Templates, Inc. (Nasdaq: MTEM) has announced a 1-for-15 reverse stock split of its common stock. The reverse stock split will take effect on August 11, 2023, and the company's common stock will begin trading under a new CUSIP number on August 14, 2023. The reverse stock split is intended to increase the per share trading price and regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.
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Molecular Templates, Inc. (Nasdaq: MTEM) reported Q2 2023 financial results, including a net loss of $10.9 million and revenues of $6.9 million. The company highlighted the progress in its clinical programs and collaborations, such as the private placement and debt restructuring.
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Molecular Templates, Inc. (Nasdaq: MTEM) announced executive management changes to implement its next phase of development. Dr. Gabriela Gruia will assume the role of interim Chief Medical Officer, Jason Kim will become President and Chief Financial Officer, Kristen Quigley will be the Chief Operating Officer, and Dr. Grace Kim will take on the role of Chief Strategy Officer and Head of Investor Relations. These changes aim to better enable Molecular Templates to execute on its clinical and corporate objectives, with a focus on oncology drug development.
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Molecular Templates, Inc. has entered into a securities purchase agreement to raise up to $40 million in a private placement. The financing is being led by existing investor BVF Partners LP and includes other institutional investors. The first tranche of $20 million is expected to close on July 17, 2023, with an additional $20 million available in a second tranche if certain stock price and trading levels are achieved within a 12-month period.
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FAQ

What is the current stock price of Molecular Templates (MTEM)?

The current stock price of Molecular Templates (MTEM) is $0.14 as of December 23, 2024.

What is the market cap of Molecular Templates (MTEM)?

The market cap of Molecular Templates (MTEM) is approximately 935.6K.

What does Molecular Templates, Inc. specialize in?

Molecular Templates, Inc. specializes in the discovery and development of targeted biologic therapeutics for cancer treatment, leveraging its proprietary engineered toxin body (ETB) platform.

What is MT-3724?

MT-3724 is MTEM’s leading immunotoxin currently in clinical development for the treatment of non-Hodgkin’s lymphoma.

What recent achievements has MTEM announced?

Recently, MTEM announced the first patient dosing in a Phase 1 clinical trial for MT-8421, targeting CTLA-4, for advanced solid tumors.

What is the status of MT-6402?

MT-6402 has shown promising results in Phase 1 trials, particularly in heavily pre-treated head and neck cancer patients, demonstrating objective responses and tumor regression.

How is MTEM performing financially?

For the third quarter of 2023, MTEM reported revenues of $6.8 million, primarily from collaborative research and development agreements, though it continues to operate at a net loss.

What is the ETB platform?

The ETB platform is MTEM’s proprietary technology that uses engineered toxin bodies to selectively target and kill tumor cells, offering a novel approach to cancer treatment.

What types of cancer is MTEM targeting with its therapies?

MTEM is targeting a variety of cancers including non-Hodgkin’s lymphoma, advanced solid tumors, head and neck cancer, melanoma, hepatocellular carcinoma, non-small cell lung cancer, and more.

Who are some of MTEM's key executives?

Eric Poma, PhD, serves as the Chief Executive and Chief Scientific Officer of Molecular Templates, Inc.

What collaborations does MTEM have?

MTEM has collaborative research and development agreements, notably with Bristol Myers Squibb, among others.

Where can I find more information about MTEM?

For more detailed information, you can visit MTEM’s website at www.mtem.com.

Molecular Templates, Inc.

Nasdaq:MTEM

MTEM Rankings

MTEM Stock Data

935.57k
6.32M
3.96%
35.01%
37.35%
Biotechnology
Pharmaceutical Preparations
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United States of America
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