FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Morenstein Scott D
   2. Issuer Name and Ticker or Trading Symbol
Molecular Templates, Inc. [MTEM] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O CAXTON ALTERNATIVE MANAGEMENT LP, 1330 6TH AVENUE, 20TH FLOOR		 3. Date of Earliest Transaction (Month/Day/Year)
11/21/2019
(Street)

NEW YORK, NY 10019		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 11/21/2019   P   468,750 A $ 8 2,052,991 I See Footnote (1) (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Morenstein Scott D
C/O CAXTON ALTERNATIVE MANAGEMENT LP
1330 6TH AVENUE, 20TH FLOOR
NEW YORK, NY 10019		   X      
CDK ASSOCIATES, L.L.C.
C/O CAXTON CORPORATION
731 ALEXANDER ROAD, BLDG. #2, SUITE 500
PRINCETON, NJ 08540		   X      
CAXTON CORP
731 ALEXANDER ROAD
BUILDING #2, SUITE 500
PRINCETON, NJ 08540		   X      
Kovner Bruce
C/O CAXTON CORPORATION
731 ALEXANDER ROAD, BLDG. #2, SUITE 500
PRINCETON, NJ 08540		   X      

Signatures

 /s/ Scott D. Morenstein   11/25/2019
**Signature of Reporting Person Date
 CDK Associates, L.L.C., By: Caxton Corporation, its Manager,By: /s/ Heath Weisberg, General Counsel   11/25/2019
**Signature of Reporting Person Date
 Caxton Corporation, By: /s/ Heath Weisberg, General Counsel   11/25/2019
**Signature of Reporting Person Date
 Bruce Kovner, By: /s/ Heath Weisberg, Attorney-in-Fact   11/25/2019
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These shares are owned directly by CDK Associates, LLC, which is a reporting person, and may be deemed to be indirectly beneficially owned by (i) Caxton Corporation, the manager of CDK Associates, LLC, (ii) Bruce Kovner, the chairman and sole shareholder of Caxton Corporation; and (iii) Scott Morenstein, a Managing Director of the investment manager of CDK Associates, LLC.
(2) Scott Morenstein serves as a director of the Issuer. Caxton Corporation, Bruce Kovner and CDK Associates, L.L.C. may be considered directors by deputization due to their affiliation with Scott Morenstein. Each Reporting Person disclaims beneficial ownership of these shares except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

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