Biotechs Move Forward Developing Latest Targeted Therapies for Acute Myeloid Leukemia

PALM BEACH, Florida, Dec. 4, 2019 /PRNewswire/ --  So it is not surprising that there is a lot of money and research resources being devoted to find new therapies for Acute Myeloid Leukemia (AML), many of which are in the targeted drugs arena. AML is the second most common type of leukemia diagnosed in adults and children. Even given all the research in new treatments, it is still often deadly within a few months. With all those research resources focused on AML, reports have projected that revenues in the market will continue to rise. A report from Mordor Intelligence states: "The global acute myeloid leukemia market was valued at USD 701.6 million in 2018, and is estimated to be valued at USD $1,539.99 million in 2024, witnessing a CAGR of 14.0%. The key factors propelling the growth of this market are high Incidence and prevalence of acute myeloid leukemia, advancements in pharmacology and molecular biology to promote drug development, and increasing investments in R&D by the pharmaceutical companies." Active biotech and pharma companies in the markets this week include Moleculin Biotech, Inc. (NASDAQ: MBRX), Audentes Therapeutics, Inc. (NASDAQ: BOLD) Outlook Therapeutics, Inc. (NASDAQ: OTLK), Axsome Therapeutics, Inc. (NASDAQ: AXSM), uniQure N.V. (NASDAQ: QURE).

The American Cancer Society's estimates for leukemia in the United States, for 2019, indicates that approximately 61,780 new cases of leukemia and 22,840 deaths from leukemia are expected to occur in the country. Among them, the number of new cases of acute myeloid leukemia (AML) will be around 21,450, from which most of the population will be adults. In terms of mortality, the society has estimated that there will be around 10,920 deaths due to AML, in the country. This statistic shows that there is a huge number of people that are prone to suffer from acute myeloid leukemia, which may directly impact the growth of the AML market in the United States.

Moleculin Biotech, Inc. (NASDAQ:MBRX) BREAKING NEWS: Moleculin Announces Additional Positive Interim Results from Phase 1/2 Clinical Studies of Annamycin in Acute Myeloid Leukemia - Moleculin Biotech, a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors, today announced additional positive interim safety and efficacy data from one of the Company's two ongoing open label, single arm Phase 1/2 studies of Annamycin for the treatment of relapsed or refractory acute myeloid leukemia ("AML").