---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-038478"
form_type: "8-K"
ticker: "MBRX"
cik: "0001659617"
company_name: "Moleculin Biotech, Inc."
filed_at: "2025-12-22T23:59:59+00:00"
generated_at: "2026-05-16T12:25:31.785804+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Moleculin Biotech Reduces Warrant Exercise Price to $3.90, Boosts Equity Above $10M to Address Nasdaq Delisting

## Summary
- Entered warrant amendment agreements on Dec 21, 2025 reducing exercise price of Series E, F, G warrants to $3.90 per share.
- Amended Series E and F warrants to delete certain anti-dilution provisions and modify Black Scholes Value definition.
- Received Nasdaq delisting notice on Nov 20, 2025 for non-compliance with $2.5M equity rule; appealed and hearing set for Jan 20, 2026.
- Raised $6.8M from warrant exercise on Dec 9, 2025 and $1.1M from ATM facility; stockholders' equity now exceeds $10.0M.
- Panel hearing for Nasdaq appeal scheduled for January 20, 2026.

## SEC filing metadata
- accession: 0001437749-25-038478
- form_type: 8-K
- ticker: MBRX
- cik: 0001659617
- company_name: Moleculin Biotech, Inc.
- filed_at: 2025-12-22T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1659617/000143774925038478/0001437749-25-038478-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1659617/000143774925038478/mbrx20251221_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-038478
- JSON: https://secwatch.observer/filing/0001437749-25-038478.json
- Plain text: https://secwatch.observer/filing/0001437749-25-038478.txt

## Key facts
- Material Agreements
  Moleculin Biotech, Inc. amended Warrant Amendment with holders of the Company’s Series E warrants, Series F warrants, and Series G warrants valued at $3.90 per share (effective 2025-12-21).
  - Action: amendment
  - Counterparty: holders of the Company’s Series E warrants, Series F warrants, and Series G warrants
  - Value: $3.90 per share
  - Effective: 2025-12-21
  source text: On December 21, 2025, Moleculin Biotech, Inc. (the “Company”) entered into separate warrant amendment agreements (collectively, the “Warrant Amendment”) with the holders of the Company’s Series E warrants (the “Series E warrants”), Series F warrants (the “Series F warrants”), and Series G warrants (the “Series G warrants,” and collectively with the Series E warrants and Series F warrants, the “Warrants”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1659617/000143774925038478/0001437749-25-038478-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.