Monopar IPO: What You Need To Know
Cancer is a lucrative area for drug developers, and a company that develops therapies to improve clinical outcome of cancer patients is eyeing a public listing.
The IPO Terms
Wilmette, Illinois-based Monopar Therapeutics, Inc. has set the size and price of its previously announced IPO through an amendment to the Form S-1 registration statement filed with the SEC on Sep. 10.
The company is planning a 4.45-million share IPO, estimated to be priced between $8 and $10 per share.
At the midpoint of the estimated price range of $9, the size of the offering is $40.05 million.
It has applied for listing its shares on the Nasdaq under the ticker symbol MNPR.
JonesTrading is serving as the underwriter for the offering.
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Monopar is a clinical-stage biopharma company developing proprietary therapies to improve clinical outcomes for cancer patients. It is building a pipeline through licensing and outright acquisition of oncology assets in late pre-clinical and clinical development.
The company's lead product candidate is Validive, chemically clonidine mucobuccal tablet, with the initiation of a Phase 3 trial for the asset planned for the fourth quarter of 2019.
Source: S-1 filing
Monopar doesn't have any commercial product yet and therefore hasn't been reporting revenues. The loss for the fiscal year 2018 widened from $3.23 million in fiscal 2017 to $16.56 million in fiscal 2018.
The loss for the three months ending June 30, 2018 was $821,000 compared to $906,000 in 2019.
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