MBRX — Moleculin Biotech, Inc. Dilution Risk Tracker

Moleculin Biotech, Inc. (MBRX) has a DilutionScore of 73/100, placing it in the High dilution risk tier. This score reflects at least one active dilution mechanism — a shelf registration, ATM program, outstanding warrants, or limited cash runway — that could materially increase the share count over the next 12–18 months. Score as of July 14, 2026, updated from SEC EDGAR data.

MBRX has an active ATM (at-the-market) program with $15.3M remaining capacity. ATM programs allow companies to sell shares continuously into the open market through a broker-dealer — without announcing a secondary offering. This creates a silent but steady source of share dilution that shows up in quarterly share count increases rather than a discrete offering event. DilutionWatch tracks 107,802 outstanding warrants for MBRX. Warrants become dilutive when exercised — converting to common shares at the strike price. Warrants near or in-the-money deserve particular attention since exercise can add materially to the outstanding share count within a short window.

DilutionWatch tracks over 25 SEC filing types for MBRX in real-time, scanning EDGAR every 60 seconds. Recent 8-K filings are present; material events disclosures can sometimes precede or accompany capital raises. The DilutionWatch screener shows real-time score changes for MBRX alongside comparable high-risk stocks. Not financial advice — this analysis is for informational purposes only.