Monopar Therapeutics Reports Third Quarter 2024 Financial Results and Recent Developments
Monopar Therapeutics (Nasdaq: MNPR) reported Q3 2024 financial results and recent developments. Key highlights include the in-licensing of ALXN-1840, a late-stage Wilson disease drug candidate from Alexion, AstraZeneca Rare Disease. The company has two active radiophharma clinical trials enrolling patients with advanced solid cancers. A recent capital raise through a public offering generated net proceeds of $17.7 million. Q3 2024 showed a net loss of $1.3 million ($0.37 per share), compared to $2.0 million ($0.69 per share) in Q3 2023. Cash position was $6.0 million as of September 30, 2024, with current funds projected to sustain operations into first half of 2026.
Monopar Therapeutics (Nasdaq: MNPR) ha riportato i risultati finanziari del terzo trimestre 2024 e gli sviluppi recenti. Tra i punti salienti c'è l'in-licensing di ALXN-1840, un candidato farmaco in fase avanzata per la malattia di Wilson proveniente da Alexion, AstraZeneca Rare Disease. L'azienda ha due trial clinici attivi di radioterapia che stanno arruolando pazienti con tumori solidi avanzati. Una recente raccolta di capitali tramite un'offerta pubblica ha generato proventi netti di 17,7 milioni di dollari. Il terzo trimestre 2024 ha mostrato una perdita netta di 1,3 milioni di dollari (0,37 dollari per azione), rispetto a 2,0 milioni di dollari (0,69 dollari per azione) nel terzo trimestre 2023. La posizione di cassa era di 6,0 milioni di dollari al 30 settembre 2024, con fondi attuali previsti per sostenere le operazioni fino alla prima metà del 2026.
Monopar Therapeutics (Nasdaq: MNPR) reportó los resultados financieros del tercer trimestre de 2024 y los desarrollos recientes. Los aspectos más destacados incluyen la adquisición de licencias de ALXN-1840, un candidato a fármaco en etapa avanzada para la enfermedad de Wilson de Alexion, AstraZeneca Rare Disease. La empresa tiene dos ensayos clínicos activos de radiofarmacia que están reclutando pacientes con cánceres sólidos avanzados. Una reciente recaudación de capital a través de una oferta pública generó un ingreso neto de 17,7 millones de dólares. El tercer trimestre de 2024 mostró una pérdida neta de 1,3 millones de dólares (0,37 dólares por acción), en comparación con 2,0 millones de dólares (0,69 dólares por acción) en el tercer trimestre de 2023. La posición de efectivo era de 6,0 millones de dólares al 30 de septiembre de 2024, con fondos actuales proyectados para sostener las operaciones hasta la primera mitad de 2026.
모노파 테라퓨틱스 (Nasdaq: MNPR)는 2024년 3분기 재무 결과 및 최근 개발 사항을 보고했습니다. 주요 하이라이트에는 알렉시온, 아스트라제네카 희귀 질환의 3기 윌슨병 약물 후보인 ALXN-1840의 라이센스 인이 포함됩니다. 회사는 진행성 고형암 환자를 등록하는 두 개의 방사선약리학 임상시험을 진행 중입니다. 최근 공모를 통한 자본 조달로 1,770만 달러의 순수입을 올렸습니다. 2024년 3분기에는 130만 달러(주당 0.37달러)의 순손실을 기록했으며, 이는 2023년 3분기의 200만 달러(주당 0.69달러)와 비교됩니다. 2024년 9월 30일 기준 현금 보유액은 600만 달러였으며, 현재 자금은 2026년 상반기까지 운영을 지속할 것으로 예상됩니다.
Monopar Therapeutics (Nasdaq: MNPR) a publié les résultats financiers du troisième trimestre 2024 et les développements récents. Les points clés incluent l'obtention de licences pour ALXN-1840, un candidat médicament en phase avancée pour la maladie de Wilson d'Alexion, AstraZeneca Rare Disease. La société a deux essais cliniques de radio-pharmacie en cours qui inscrivent des patients atteints de cancers solides avancés. Une récente collecte de fonds par le biais d'une offre publique a généré des produits nets de 17,7 millions de dollars. Le troisième trimestre 2024 a montré une perte nette de 1,3 million de dollars (0,37 dollar par action), contre 2,0 millions de dollars (0,69 dollar par action) au troisième trimestre 2023. La position de trésorerie était de 6,0 millions de dollars au 30 septembre 2024, avec des fonds actuels projetés pour soutenir les opérations jusqu'au premier semestre 2026.
Monopar Therapeutics (Nasdaq: MNPR) hat die finanziellen Ergebnisse für das dritte Quartal 2024 sowie aktuelle Entwicklungen veröffentlicht. Zu den wichtigsten Punkten gehört die In-Lizenzierung von ALXN-1840, einem Wirkstoffkandidaten in der fortgeschrittenen Phase zur Behandlung der Wilson-Krankheit von Alexion, AstraZeneca Rare Disease. Das Unternehmen führt zwei aktive klinische Studien im Bereich Radiopharma durch, die Patienten mit fortgeschrittenen soliden Krebserkrankungen einschließen. Eine kürzliche Kapitalerhöhung durch ein öffentliches Angebot brachte netto 17,7 Millionen Dollar ein. Im dritten Quartal 2024 wurde ein Nettverlust von 1,3 Millionen Dollar (0,37 Dollar pro Aktie) verzeichnet, im Vergleich zu 2,0 Millionen Dollar (0,69 Dollar pro Aktie) im dritten Quartal 2023. Der Bargeldbestand betrug zum 30. September 2024 6,0 Millionen Dollar, mit derzeit verfügbaren Mitteln, die voraussichtlich bis zur ersten Hälfte von 2026 ausreichen werden.
- Net loss decreased to $1.3M in Q3 2024 from $2.0M in Q3 2023
- Successful capital raise of $17.7M through public offering
- R&D expenses decreased by $333,000 compared to Q3 2023
- G&A expenses reduced by $158,000 compared to Q3 2023
- Current funds projected to sustain operations into first half of 2026
- Cash position of only $6.0M as of September 30, 2024
- Share dilution from public offering of 1,181,540 shares
- Continuing operational losses
Insights
In-licensed ALXN-1840 (a Late-Stage Wilson Disease Drug Candidate) from Alexion, AstraZeneca Rare Disease
Two Novel Radiopharma Clinical Trials now Active and Enrolling Patients with Advanced Solid Cancers
WILMETTE, Ill., Nov. 08, 2024 (GLOBE NEWSWIRE) -- Monopar Therapeutics Inc. (“Monopar” or the “Company”) (Nasdaq: MNPR), a clinical-stage biotechnology company focused on developing innovative treatments for patients with unmet medical needs, today announced third quarter 2024 financial results and summarized recent developments.
Recent Developments
ALXN-1840 for Wilson disease – Late Stage
- On October 23, 2024, the Company entered into an exclusive license with Alexion, AstraZeneca Rare Disease whereby the Company gained worldwide rights to develop and commercialize ALXN-1840 (bis-choline tetrathiomolybdate). ALXN-1840 is a drug candidate for Wilson disease that is in late-stage development, having already completed a Phase 3 clinical trial. Monopar will be assembling a regulatory package and initiating discussions with the FDA, with an initial focus on Wilson disease patients with more severe symptoms. More details on this transaction can be found here (link).
MNPR-101 for Radiopharmaceutical Use – Phase 1
- In August 2024, the Company received regulatory clearance in Australia to commence a first-in-human Phase 1a therapeutic clinical trial of its novel urokinase plasminogen activator receptor (uPAR)-targeted radiopharmaceutical therapy MNPR-101-Lu (MNPR-101 conjugated to lutetium-177) in patients with advanced solid cancers. The Company activated its first clinical trial site and launched the study in October 2024; the trial is currently active and recruiting patients.
- In September 2024, the Company announced positive early clinical data from its ongoing open-label Phase 1 imaging and dosimetry clinical trial of MNPR-101-Zr that validate the tumor-targeting ability of MNPR-101-Zr. In October, the Company presented additional clinical data at the European Association of Nuclear Medicine Annual Congress 2024. The data demonstrate clear and durable tumor uptake of MNPR-101-Zr in a patient with advanced ovarian cancer and show favorable biodistribution with low off-target binding.
- The Company is also actively exploring opportunities to expand its radiopharmaceutical pipeline primarily through internal development efforts. In October 2024, the Company announced the filing of a provisional patent application for new radiopharmaceutical compounds and a family of linkers used to connect radioisotopes with targeting agents, including its uPAR-targeting antibody MNPR-101. This provisional patent could enable the Company to use these linkers to create new proprietary radiopharmaceuticals to pursue well-established, high-value cancer targets of interest.
Capital Raise
- On October 30, 2024, the Company completed a registered public offering of 1,181,540 shares of the Company’s common stock at
$16.25 per share, generating net proceeds of approximately$17.7 million , after deducting placement agent fees and other estimated offering expenses.
Results for the Third Quarter Ended September 30, 2024 Compared to the Third Quarter Ended September 30, 2023
Cash and Net Loss
Cash and cash equivalents as of September 30, 2024, were
Monopar projects that its current funds will be sufficient to continue operations at least into the first half of 2026, including to: (1) assemble a regulatory package and initiate discussions with the FDA on ALXN-1840 for Wilson disease; (2) continue to conduct and conclude its first-in-human imaging and dosimetry Phase 1 clinical trial with MNPR-101-Zr; (3) continue to conduct its first-in-human therapeutic radiopharma clinical trial with MNPR-101-Lu; (4) advance its preclinical MNPR-101-Ac program into the clinic, and (5) invest in internal R&D projects to expand its radiopharma pipeline.
Net loss for the third quarter of 2024 was
Research and Development (R&D) Expenses
R&D expenses for the three months ended September 30, 2024 were
General and Administrative (G&A) Expenses
G&A expenses for the three months ended September 30, 2024 were
About Monopar Therapeutics
Monopar Therapeutics Inc. 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, and links to SEC filings that contain detailed financial information, visit: https://ir.monopartx.com/quarterly-reports.
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: that Monopar will be assembling a regulatory package and initiating discussions with the FDA, with an initial focus on Wilson disease patients with more severe symptoms;
that Monopar is actively exploring opportunities to expand its radiopharmaceutical pipeline primarily through internal development efforts; that the provisional patent could enable the Company to use these linkers to create new proprietary radiopharmaceuticals to pursue well-established, high-value cancer targets of interest; and that Monopar projects that its current funds will be sufficient to continue operations at least into the first half of 2026. The forward-looking statements involve risks and uncertainties including, but not limited to: Monopar’s ability to raise sufficient funds in order for the Company to support continued clinical, regulatory and commercial development of its programs and to make contractual upfront and future milestone payments, as well as its 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 that Monopar intends 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 Monopar receives marketing approval, and Monopar’s 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
Karthik Radhakrishnan
Chief Financial Officer
karthik@monopartx.com
Follow Monopar on social media for updates:
Twitter: @MonoparTx LinkedIn: Monopar Therapeutics
FAQ
What was Monopar Therapeutics (MNPR) net loss in Q3 2024?
How much did MNPR raise in their October 2024 public offering?
What major development did MNPR announce regarding Wilson disease treatment?