<SEC-DOCUMENT>0001144204-17-038493.txt : 20170726
<SEC-HEADER>0001144204-17-038493.hdr.sgml : 20170726
<ACCEPTANCE-DATETIME>20170726210333
ACCESSION NUMBER:		0001144204-17-038493
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170724
FILED AS OF DATE:		20170726
DATE AS OF CHANGE:		20170726

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Climaco John M
		CENTRAL INDEX KEY:			0001546797

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37758
		FILM NUMBER:		17984196

	MAIL ADDRESS:	
		STREET 1:		PO BOX 326
		CITY:			PARK CITY
		STATE:			UT
		ZIP:			84060

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Moleculin Biotech, Inc.
		CENTRAL INDEX KEY:			0001659617
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				474671999
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		2575 WEST BELLFORT
		STREET 2:		SUITE 333
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77054
		BUSINESS PHONE:		713-300-5160

	MAIL ADDRESS:	
		STREET 1:		2575 WEST BELLFORT
		STREET 2:		SUITE 333
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77054
</SEC-HEADER>
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<TYPE>3
<SEQUENCE>1
<FILENAME>v471462_3.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
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<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2017-07-24</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001659617</issuerCik>
        <issuerName>Moleculin Biotech, Inc.</issuerName>
        <issuerTradingSymbol>MBRX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001546797</rptOwnerCik>
            <rptOwnerName>Climaco John M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MOLECULIN BIOTECH, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>2575 WEST BELLFORT, SUITE 333</rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77054</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks>Exhibit 24 - Limited Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Jonathan Foster by Power of Attorney</signatureName>
        <signatureDate>2017-07-26</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>v471462_ex24.htm
<DESCRIPTION>EXHIBIT 24
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 24</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"><U>Power
of attorney</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned, as a person who are required
to file with the Securities Exchange Commission (&ldquo;<U>SEC</U>&rdquo;) public reports disclosing their holdings of, and transactions
in, the equity securities of Moleculin Biotech, Inc. (the &ldquo;<U>Company</U>&rdquo;) under Section 16 of the Securities Exchange
Act of 1934, as amended, and the rules and regulations promulgated thereunder (the &ldquo;<U>1934 Act</U>&rdquo;), hereby constitutes
and appoints each of Walter Klemp and Jonathan Foster as the undersigned&rsquo;s true and lawful attorney-in-fact to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Complete and execute Forms 3, 4 and 5 and other forms and all amendments thereto as such attorney-in-fact
shall in his discretion determine to be required or advisable pursuant to Section 16 of the 1934 Act, as a consequence of the undersigned&rsquo;s
ownership, acquisition or disposition of any equity securities of the Company; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Do all acts necessary in order to file such forms with the SEC, any securities exchange or national
association, the Company and such other person or agency as the attorney-in-fact shall deem appropriate.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each of said attorneys-in-fact shall individually
have the authority to act in accordance with this Power of Attorney. The undersigned hereby ratifies and confirms all that each
of said attorneys-in-fact and agents shall do or cause to be done by virtue hereof. The undersigned acknowledges that each of the
foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, is not assuming, nor is the Company
assuming, any of the undersigned&rsquo;s responsibilities to comply with Section 16 of the 1934 Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Power of Attorney shall remain in
full force and effect until the undersigned is no longer required to file Forms 3, 4, and 5 with respect to the undersigned&rsquo;s
holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing
delivered to the Company and any one of the foregoing attorneys-in-fact.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">IN WITNESS WHEREOF, the undersigned has
caused this Power of Attorney to be executed as of this 25<SUP>th</SUP> day of July, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Signature: &nbsp;<U>/s/ John M. Climaco&#9;</U><BR>
<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</SEC-DOCUMENT>
