WILMETTE, Sick. – Monopar Therapeutics Inc . (NASDAQ:), a clinical-stage biopharmaceutical firm whose inventory has surged over 1,000% prior to now 12 months, has introduced the pricing of a brand new inventory providing and a concurrent personal placement of pre-funded warrants. In keeping with InvestingPro evaluation, the corporate is presently buying and selling above its Honest Worth, following a exceptional 607% value improve over the previous six months. The general public providing consists of 798,655 shares of frequent inventory priced at $23.79 every, whereas the personal placement consists of pre-funded warrants to buy 882,761 shares at $23.789 per warrant, slightly below the frequent inventory value, reflecting the nominal train value. With a present market capitalization of roughly $126 million, InvestingPro knowledge reveals the corporate maintains robust liquidity with a present ratio of 5.41, indicating sturdy short-term monetary well being.
Monopar expects to lift $40 million in gross proceeds from these transactions earlier than underwriting reductions, commissions, and estimated providing bills. The closing of the providing is scheduled for roughly December 23, 2024, contingent on customary closing circumstances.
The funds raised are earmarked for common company functions, which can cowl analysis and growth, medical trials, product manufacturing and provide, and dealing capital. Main members within the providing embody RA Capital Administration, Janus Henderson Buyers, Adage Capital Companions (WA:) LP, and ADAR1 Capital Administration, with Piper Sandler & Co. serving as the only real book-running supervisor.
The securities within the registered providing are being bought in line with a “shelf” registration assertion filed with the U.S. Securities and Alternate Fee (SEC) on December 21, 2022, and declared efficient on January 4, 2023. Related particulars of the providing will likely be obtainable in a prospectus complement and accompanying prospectus filed with the SEC.
Monopar Therapeutics focuses on growing remedies for sufferers with unmet medical wants, together with late-stage ALXN-1840 for Wilson illness and radiopharma packages for superior cancers. Whereas analysts keep a robust purchase consensus with a excessive goal of $37, InvestingPro subscribers can entry 11 further funding ideas and complete monetary metrics to raised consider the corporate’s potential. The corporate’s forward-looking statements spotlight the inherent dangers and uncertainties within the drug growth and approval course of.
This information is predicated on a press launch assertion from Monopar Therapeutics Inc. and doesn’t represent a proposal to promote or a solicitation of a proposal to purchase any securities.
In different current information, Monopar Therapeutics has been a focus of a number of vital developments. The corporate has secured an unique world 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 predicted to create new income streams and has led to Jones Buying and selling elevating Monopar’s inventory goal from $9.00 to $37.00 and sustaining a Purchase score. H.C. Wainwright additionally upgraded its value goal from $6.00 to $22.00, protecting its Purchase score intact.
Monopar reported no revenues for the second quarter of 2024 and posted a internet lack of $0.10 per share. The corporate can be planning a public providing of frequent inventory, the phrases of that are but to be finalized. Moreover, Monopar has initiated a Section I therapeutic trial for MNPR-101-Lu in Australia, concentrating on sufferers with superior strong cancers, and introduced a 5-for-1 reverse inventory cut up, regaining compliance with Nasdaq’s minimal bid value requirement.
The corporate has expanded its partnership with NorthStar Medical (TASE:) Radioisotopes, securing a long-term contract for the provision of actinium-225, a key radioisotope utilized in most cancers remedy. Lastly, Monopar introduced the retirement of CFO Kim R. Tsuchimoto, with Karthik Radhakrishnan set to imagine her roles. These are among the many current developments at Monopar Therapeutics.
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