Monopar Therapeutics Inc. Announces Closing of $19.2 Million Public Offering of Common Stock

Rhea-AI Summary

Monopar Therapeutics (Nasdaq: MNPR) has closed its previously announced public offering of common stock, raising $19.2 million in gross proceeds. The shares were priced at $16.25 per share. Notable participants included Janus Henderson Investors and RA Capital Management. Rodman & Renshaw served as the exclusive placement agent. The company plans to use the proceeds for general corporate purposes, including research and development, clinical trials, product manufacturing, and working capital. The offering was made through a shelf registration statement previously filed with the SEC.

Positive

• Successfully raised $19.2 million in gross proceeds
• Attracted notable institutional investors including Janus Henderson and RA Capital Management
• Secured funding for R&D, clinical trials, and manufacturing operations

Negative

• Potential dilution of existing shareholders' equity
• Additional offering expenses and placement agent fees will reduce net proceeds

Insights

Financial Analyst

This $19.2 million capital raise significantly strengthens MNPR's financial position, representing approximately 33.6% of their market cap. The participation of notable investors like Janus Henderson and RA Capital adds credibility and institutional backing. With a pre-offering market cap of around $57 million, this substantial cash injection provides important runway for their clinical programs.

The pricing at $16.25 per share indicates reasonable market confidence, though dilution impact on existing shareholders should be noted. The proceeds earmarked for R&D, clinical trials and manufacturing suggest a strategic focus on advancing their pipeline. The presence of top-tier life science investors could also facilitate future funding rounds or partnerships.

WILMETTE, Ill., Oct. 30, 2024 (GLOBE NEWSWIRE) -- Monopar Therapeutics Inc. (Nasdaq: MNPR) (“Monopar Therapeutics” or the “Company”), a clinical-stage biotechnology company focused on developing innovative treatments for patients with unmet medical needs, today announced the closing of its previously announced best efforts public offering of shares of its common stock at a public offering price of $16.25 per share, for aggregate gross proceeds of approximately $19.2 million, before deducting the placement agent’s fees and other offering expenses payable by the Company.

Janus Henderson Investors, RA Capital Management, L.P. and other notable growth and life science investors participated in the offering.

Rodman & Renshaw LLC acted as the exclusive placement agent for the offering.

Monopar Therapeutics intends to use the net proceeds from the offering for general corporate purposes, which may include research and development expenditures, clinical trial expenditures, manufacture and supply of product and working capital.

The securities were offered and sold pursuant to a "shelf" registration statement on Form S-3 (File No. 333-268935), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 21, 2022, and declared effective on January 4, 2023. A final prospectus supplement and accompanying prospectus describing the terms of the offering has been filed with the SEC and is available on its website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may also be obtained by contacting Rodman & Renshaw LLC at 600 Lexington Avenue, 32^nd Floor, New York, NY 10022, by email at info@rodm.com, or by telephone at (212) 540-4414.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.

About Monopar Therapeutics

Monopar Therapeutics is a clinical-stage biotechnology company with late-stage ALXN-1840 for Wilson disease, and radiopharma programs including Phase 1-stage MNPR-101-Zr for imaging advanced cancers, and Phase 1a-stage MNPR-101-Lu and late preclinical-stage MNPR-101-Ac225 for the treatment of advanced cancers. For more information, visit: www.monopartx.com.

Forward-Looking Statements

Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Examples of these forward-looking statements include statements concerning: statements regarding the anticipated use of proceeds from the offering. The forward-looking statements involve risks and uncertainties including, but not limited to: our ability to raise sufficient funds in order for us to support continued clinical, regulatory and commercial development of our programs and to make contractual upfront and future milestone payments, as well as our ability to further raise additional funds in the future to support any existing or future product candidate programs through completion of clinical trials, the approval processes and, if applicable, commercialization; uncertainties related to the regulatory discussions we intend to initiate related to ALXN-1840 and the outcome thereof; the rate of market acceptance and competitiveness in terms of pricing, efficacy and safety, of any products for which we receive marketing approval, and our ability to competitively market any such products as compared to larger pharmaceutical firms; and the significant general risks and uncertainties surrounding the research, development, regulatory approval, and commercialization of imaging agents and therapeutics. Actual results may differ materially from those expressed or implied by such forward-looking statements. Risks are described more fully in Monopar's filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Monopar undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. Any forward-looking statements contained in this press release represent Monopar’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.

CONTACT: 
Monopar Therapeutics Inc.
Investor Relations

Karthik Radhakrishnan 
Chief Financial Officer
karthik@monopartx.com

FAQ

What was the price per share in Monopar Therapeutics (MNPR) October 2024 public offering?

The public offering price was $16.25 per share.

How much did Monopar Therapeutics (MNPR) raise in its October 2024 public offering?

Monopar Therapeutics raised approximately $19.2 million in gross proceeds.

Who were the major investors in Monopar Therapeutics (MNPR) October 2024 public offering?

Janus Henderson Investors and RA Capital Management, L.P. were among the notable investors.

How will Monopar Therapeutics (MNPR) use the proceeds from its October 2024 offering?

The proceeds will be used for general corporate purposes, including R&D, clinical trials, product manufacturing, and working capital.