Monopar Therapeutics Inc. Announces Pricing of $40 Million Public Offering of Common Stock and Concurrent Private Placement of Pre-Funded Warrants
December 20 2024 - 9:00AM
Monopar Therapeutics Inc. (Nasdaq: MNPR) (“Monopar” or the
“Company”), a clinical-stage biotechnology company focused
on developing innovative treatments for patients with unmet medical
needs, today announced the pricing of an underwritten registered
offering of 798,655 shares of its common stock at an offering price
of $23.79 per share. In addition to the shares sold in the
registered offering, Monopar announced the concurrent pricing of a
private placement of pre-funded warrants to purchase 882,761 shares
of common stock at a purchase price of $23.789 per pre-funded
warrant, which represents the per share offering price for the
common stock less the $0.001 per share exercise price for each
pre-funded warrant. The gross proceeds to Monopar from the
registered offering and private placement, before deducting the
underwriting discounts and commissions and estimated offering
expenses, are expected to be $40 million. The offering is expected
to close on or about December 23, 2024, subject to customary
closing conditions.
Monopar 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.
RA Capital Management, Janus Henderson
Investors, Adage Capital Partners LP and ADAR1 Capital Management
participated in the offering.
Piper Sandler & Co. is acting as the sole
book-running manager for the offering.
The securities in the registered offering are
being 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
prospectus supplement and accompanying prospectus describing the
terms of the registered offering will be filed with the SEC and
will be available on its website at www.sec.gov. Copies
of the prospectus supplement and the accompanying prospectus
relating to the registered offering, when available, may also be
obtained by contacting Piper Sandler & Co. by mail at
Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, by telephone at (800) 747-3924 or by email
at prospectus@psc.com.
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.
About Monopar Therapeutics Inc.
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 ability to raise sufficient
funds in order for us to support continued clinical, regulatory and
commercial development of our programs and to make contractual
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
RelationsKarthik Radhakrishnan Chief Financial
Officer karthik@monopartx.com
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