Monopar Therapeutics Inc. Announces Proposed Public Offering of Common Stock
Monopar Therapeutics (Nasdaq: MNPR) announced plans for a best efforts public offering of common stock. The clinical-stage biotech company intends to use the proceeds for general corporate purposes, including research and development, clinical trials, product manufacturing, and working capital. Rodman & Renshaw is serving as the exclusive placement agent. The offering will be conducted under a previously filed S-3 registration statement. The final terms will be disclosed in a prospectus supplement to be filed with the SEC.
Monopar Therapeutics (Nasdaq: MNPR) ha annunciato piani per un pubblic offering a migliori sforzi di azioni ordinarie. La compagnia biotech in fase clinica intende utilizzare i proventi per scopi aziendali generali, inclusi ricerca e sviluppo, trial clinici, produzione di prodotti e capitale circolante. Rodman & Renshaw funge da agente di collocamento esclusivo. L'offerta sarà condotta sotto una dichiarazione di registrazione S-3 precedentemente depositata. I termini finali saranno comunicati in un supplemento al prospetto che sarà depositato presso la SEC.
Monopar Therapeutics (Nasdaq: MNPR) anunció planes para una oferta pública de mejores esfuerzos de acciones ordinarias. La compañía biotecnológica en etapa clínica tiene la intención de utilizar los ingresos para fines corporativos generales, incluyendo investigación y desarrollo, ensayos clínicos, fabricación de productos y capital de trabajo. Rodman & Renshaw sirve como agente exclusivo de colocación. La oferta se llevará a cabo bajo una declaración de registro S-3 previamente presentada. Los términos finales se revelarán en un suplemento del prospecto que se presentará ante la SEC.
Monopar Therapeutics (Nasdaq: MNPR)은 일반 주식의 최선의 노력 공개 제안 계획을 발표했습니다. 이 임상 단계 생명공학 회사는 연구 및 개발, 임상 시험, 제품 제조, 운영 자본 등 일반 기업 용도로 수익금을 사용할 계획입니다. Rodman & Renshaw가 독점 배치 에이전트로 활동하고 있습니다. 이번 공시는 이전에 제출된 S-3 등록 성명서에 따라 진행됩니다. 최종 조건은 SEC에 제출될 보충 설명서에서 공개될 예정입니다.
Monopar Therapeutics (Nasdaq: MNPR) a annoncé ses projets pour une offre publique à meilleur effort d'actions ordinaires. Cette entreprise biopharmaceutique en phase clinique entend utiliser les produits pour des fins corporatives générales, y compris la recherche et le développement, les essais cliniques, la fabrication de produits et le fonds de roulement. Rodman & Renshaw sert d'agent de placement exclusif. L'offre sera réalisée sous une déclaration d'enregistrement S-3 préalablement déposée. Les conditions finales seront divulguées dans un supplément de prospectus à déposer auprès de la SEC.
Monopar Therapeutics (Nasdaq: MNPR) hat Pläne für ein Best-Efforts-Publikumangebot von Stammaktien angekündigt. Das biopharmazeutische Unternehmen in der klinischen Phase beabsichtigt, die Erlöse für allgemeine Unternehmenszwecke zu verwenden, einschließlich Forschung und Entwicklung, klinische Studien, Produktfertigung und Betriebskapital. Rodman & Renshaw fungiert als exklusiver Platzierungsagent. Das Angebot wird gemäß einer zuvor eingereichten S-3-Registrierungserklärung durchgeführt. Die endgültigen Bedingungen werden in einem Prospektnachtrag veröffentlicht, der bei der SEC eingereicht wird.
- Potential to raise additional capital for operations
- Funds to support ongoing R&D and clinical trials
- Secured Rodman & Renshaw as placement agent
- Potential dilution of existing shareholders
- Uncertain offering terms and completion timeline
- Best efforts offering indicates less certainty of success compared to firm commitment
Insights
This public offering announcement signals potential significant dilution for existing shareholders, particularly concerning given MNPR's small market cap of
The intended use of proceeds for general corporate purposes, including R&D and clinical trials, indicates ongoing cash burn without immediate revenue prospects. The shelf registration and placement agent structure typically results in less favorable terms compared to traditional underwritten offerings, reflecting the company's current market position and financing options.
WILMETTE, Ill., Oct. 28, 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 that it intends to offer to sell shares of its common stock in a best efforts public offering. All of the shares of common stock are to be sold by the Company. The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Rodman & Renshaw LLC is acting 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 will be 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 preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been or will be filed with the SEC and will be available on its website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may also be obtained by contacting Rodman & Renshaw LLC at 600 Lexington Avenue, 32nd Floor, New York, NY 10022, by email at info@rodm.com, or by telephone at (212) 540-4414. Before investing in this offering, interested parties should read in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that the Company has filed with the SEC that are incorporated by reference into such preliminary prospectus supplement and the accompanying prospectus, which provide more information about the Company and such offering. The final terms of the offering will be disclosed in a final prospectus supplement to be filed with the SEC.
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. Any offer, if at all, will be 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 completion of the offering, the satisfaction of customary closing conditions related to the offering and the anticipated use of proceeds therefrom. The forward-looking statements involve risks and uncertainties including, but not limited to: our near term 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 is the purpose of Monopar Therapeutics (MNPR) public offering announced on October 28, 2024?
Who is the placement agent for MNPR's 2024 public offering?
What type of offering is MNPR conducting in October 2024?
When was MNPR's S-3 registration statement declared effective?
