Exhibit

We have issued our report dated March 28, 2018, with respect to the financial statements included in the Annual Report of Moleculin Biotech, Inc. on Form 10-K for the year ended December 31, 2017. We consent to the incorporation by reference of said reports in the Registration Statements of Moleculin Biotech, Inc. on Form S-1 (File No. 333-214898), Form S-3 (File No. 333-219434) and Form S-8 (File No. 333-212619).