Exhibit 99.1


Moleculin Biotech, Inc. Reports Financial Results for the Year Ended December 31, 2018

HOUSTON - February 21, 2019 - Moleculin Biotech, Inc., (NASDAQ: MBRX)
("Moleculin" or the "Company"), a clinical-stage pharmaceutical company focused on the development of oncology drug candidates, all of which are based on license agreements with The University of Texas System on behalf of the MD Anderson Cancer Center, today announced its financial results for the year ended December 31, 2018. Additionally, the Company announced potential upcoming milestones and recent corporate developments.

Management Discussion

Walter Klemp, Chairman and CEO of Moleculin, said, "On the strength of a successful 2018, we enter 2019 with a great deal of momentum. The recent initiation of our WP1220 skin cancer clinical trial in Poland achieves an important milestone - Moleculin now has three unique drug candidates in four ongoing clinical trials. We focus on being capital efficient and believe, that for a company the size of Moleculin, this is a significant achievement. All the years of painstaking research and visionary drive are producing tangible results. This is a testament to the dedication and focus of the entire Moleculin team to boldly advance our vision for ‘multiple shots on goal’ in the treatment of certain rare and highly resistant cancers."

"With our three core technologies and six oncology drug candidates, we are increasingly better positioned to develop treatments for highly resistant cancers in the coming years. We are pleased that the FDA recently granted Orphan Drug Designation for our drug candidate WP1066 for the treatment of glioblastoma, one of the most aggressive forms of brain tumors. The FDA grants Orphan Drug Designation to drugs and biologics that are intended for the treatment of rare disease. In addition to glioblastoma, WP1066 could be effective in the treatment of a range of highly resistant tumors including acute myeloid leukemia ("AML") and pancreatic cancer.  We have seen strong anti-tumor activity with WP1066, our flagship Immune/Transduction Modulator (an inhibitor of the activated form of STAT3, among other important properties) in a wide range of animal models. We are extremely excited with the results of our preclinical research, as

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The following information was filed by Moleculin Biotech, Inc. (MBRX) on Thursday, February 21, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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