** Shares of drug developer Moleculin Biotech MBRX.O rise 488% to $2.44; set to record their largest single-day percentage gain
** MBRX says U.S. FDA has approved company's plan for a late-stage trial to test its drug, annamycin, a potential treatment for acute myeloid leukemia, a type of blood and bone marrow cancer
** Says FDA recommended a reduction in the size of the trial by about 10% due to an alteration in the statistical plan
** Annamycin received "fast track" and "orphan drug" designation from the FDA
** MBRX fell 87.7% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com))
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