13G Filing: Sabby Capital and Moleculin Biotech Inc (MBRX)

Page 7 of 10

Page 7 of 10 – SEC Filing

As calculated in accordance with Rule 13d-3 of the Securities Exchange
Act of 1934, as amended, (i) Sabby Healthcare Master Fund,
Ltd. and Sabby Volatility Master Fund, Ltd. beneficially own 0
and 0 shares of the Issuer’s common stock (common shares),
respectively, representing approximately 0% and 0% of the Common
Stock, respectively, and (ii) Sabby Management, LLC and Hal Mintz each
beneficially own 0 shares of the common shares,
representing approximately 0% of the common shares. Sabby Management,
LLC and Hal Mintz do not directly own any common shares, but
each indirectly owns 0 common shares. Sabby Management,
LLC, a Delaware limited liability company, indirectly owns
0 common shares because it serves as the investment manager of
Sabby Healthcare Master Fund, Ltd. and Sabby Volatility Warrant Master
Fund, Ltd., Cayman Islands companies. Mr. Mintz indirectly owns
0 common shares in his capacity as manager of Sabby Management,
LLC.

Item 5.
Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the following
[X].

Follow Moleculin Biotech Inc.

Page 7 of 10