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Moleculin Biotech, Inc.

MBRX

Health Care

1

exclusion reason

1 theme

Animal Welfare (1)
MBRX Health Care Current as of April 2026

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.

Animal Testing & Research
Since Jul 28, 2021

Moleculin Biotech, Inc. is a clinical-stage pharmaceutical company focused on oncology drug development. The company’s research pipeline, which includes multiple drug candidates for highly resistant cancers, relies on animal testing as a standard component of preclinical and clinical-stage development. Public filings and company announcements reference the completion of preclinical laboratory tests and animal studies as integral steps in its research process.

For example, in September 2022, the company announced its WP1096 molecule would be evaluated in National Institute of Allergy and Infectious Diseases (NIAID)-funded animal studies for antiviral activity. In 2020, the company publicly launched an animal study for a drug candidate, with data expected later that year. The company’s regulatory disclosures explicitly state that concurrent with human clinical trials, it usually completes additional animal studies. This establishes animal testing as a fundamental and ongoing part of its product development and regulatory compliance strategy.

Research Sources 1 organization
Cruelty Free Investors
External

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.