Molecular Templates is a clinical-stage biopharmaceutical company focused on developing targeted biologic therapeutics for treatment of oncology. Molecular’s proprietary drug platform technology, called engineered toxin bodies (ETBs), represents a next generation class of therapeutics with unique biology and a varied mechanism of action. Partnerships with Takeda Pharmaceuticals and Vertex Pharmaceuticals strengthen Molecular’s development of novel oncology therapeutics and clinical-stage discoveries outside of oncology. ETBs are targeted and induce internalization into cells even against poorly or non-internalizing target receptors.
Molecular’s lead product candidate is MT-3724, a genetically fused immune toxin, designed to target CD20-expressing tumor cells through ribosomal inactivation present in a variety of lymphomas and leukemia. MT-3724 is being developed for the treatment of patients who have failed one or more chemotherapeutics and anti-CD20 antibody therapies. In 2019, Molecular initiated a Phase II monotherapy study and is now developing MT-3724 in combination with chemotherapy and non-chemotherapy-based regiments. However, on November 4, 2020, the FDA notified Molecular that MT-3724 clinical studies were placed on partial clinical hold following a fatality in one subject in the Phase II monotherapy study.
To date, Molecular has not generated any revenue from product sales to customers. The company doesn’t expect to receive any revenue from any ETB candidates, until it obtains regulatory approval and commercializes such drugs. In 2020, Molecular obtained collaboration revenue and grant revenue of $18.8 million, a decrease of 66% in comparison to revenue in 2019. The company’s stock dropped by 50% within a year.