WILMETTE, IL – Monopar Therapeutics Inc . (NASDAQ:), a clinical-stage biopharmaceutical firm whose shares have surged greater than 1,000% over the previous yr, introduced the pricing of a brand new inventory providing and a simultaneous personal placement of notes pre-funded subscription. Based on InvestPro Based on the evaluation, the corporate is at the moment buying and selling above its honest worth, following a exceptional 607% enhance over the previous six months. The general public providing contains 798,655 shares of widespread inventory priced at $23.79 every, whereas the personal placement contains pre-funded warrants to buy 882,761 shares at $23.789 per warrant, slightly below the value of the peculiar share, reflecting the nominal train worth. With a present market capitalization of roughly $126 million, InvestPro information reveals that the corporate maintains sturdy liquidity with a fast ratio of 5.41, indicating sturdy monetary well being within the brief time period.
Monopar expects to lift $40 million in gross proceeds from these transactions earlier than estimated underwriting reductions, commissions and providing bills. The providing is anticipated to shut on or about December 23, 2024, topic to straightforward closing situations.
Funds raised are for basic company functions, which can cowl analysis and improvement, medical trials, product manufacturing and provide, and dealing capital. Main individuals within the providing embrace RA Capital Administration, Janus Henderson Traders, Adage Monetary companions (WA:) LP and ADAR1 Capital Administration, with Piper Sandler & Co. serving as sole bookrunner.
The registered providing securities are being bought pursuant to a “shelf” registration assertion filed with america Securities and Trade Fee (SEC) on December 21, 2022 and declared efficient on January 4, 2023. The related particulars of the providing will probably be accessible in a prospectus complement and accompanying prospectus filed with the SEC.
Monopar Therapeutics is targeted on creating therapies for sufferers with unmet medical wants, together with late-stage ALXN-1840 for Wilson’s illness and radiopharmaceutical applications for superior cancers. Whereas analysts preserve a powerful purchase consensus with a excessive goal of $37, InvestPro Subscribers can entry 11 extra funding ideas and complete monetary metrics to raised assess firm potential. The Firm’s forward-looking statements spotlight the dangers and uncertainties inherent within the drug improvement and approval course of.
This information relies on a press launch from Monopar Therapeutics Inc. and doesn’t represent a suggestion to promote or a solicitation of a suggestion to purchase any securities.
Moreover, Monopar Therapeutics has been on the middle of a number of essential developments. The corporate has obtained an unique international license for ALXN-1840, a drug candidate for Wilson’s illness, from Alexion (NASDAQ:), a subsidiary of AstraZeneca (NASDAQ:) Uncommon Illness. This strategic transfer is anticipated to create new income streams and led Jones Buying and selling to lift Monopar’s inventory goal from $9.00 to $37.00 and preserve a Purchase ranking. HC Wainwright additionally raised its worth goal from $6.00 to $22.00, holding its Purchase ranking intact.
Monopar reported no income for the second quarter of 2024 and reported a internet lack of $0.10 per share. The corporate can be planning a public providing of widespread inventory, the phrases of which have but to be finalized. Moreover, Monopar initiated a Section I therapeutic trial for MNPR-101-Lu in Australia, concentrating on sufferers with superior stable cancers, and introduced a 5-for-1 reverse inventory break up, restoring compliance with the Nasdaq’s minimal buy worth requirement.
The corporate has expanded its partnership with NorthStar Medical (TASE:) Radioisotopes, securing a long-term contract to provide actinium-225, a key radioisotope utilized in most cancers therapy. Lastly, Monopar introduced the retirement of CFO Kim R. Tsuchimoto, with Karthik Radhakrishnan set to imagine his function. These are amongst Monopar Therapeutics’ current developments.
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