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Monopar Therapeutics Inc. (MNPR+4.96%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a decrease in research and development expenses to $984,000 from $1,317,000 in the same quarter the previous year. The decrease is mainly due to the wind-down of the camsirubicin program and the closure of the Validive clinical trial.
General and administrative expenses for the quarter were $591,000, down from $749,000 in the previous year, attributed to a reduction in stock-based compensation expenses.
The company reported a net loss of $1,305,000 for the quarter, compared to $1,954,000 in the previous year, with the decline attributed to reduced operating expenses.
Monopar's cash, cash equivalents, and investments as of September 30, 2024, were $6 million. The company anticipates that currently available funds will support operations at least into the first half of 2026.
During the nine months ended September 30, 2024, Monopar raised $3,194,310 through the sale of 509,061 shares of common stock under a Capital on Demand Sales Agreement.
Monopar continues to focus on its radiopharmaceutical program, including the development of MNPR-101-Zr and MNPR-101-Lu, and the recent acquisition of ALXN-1840 for Wilson disease from Alexion Pharmaceuticals (AZN+0.38%).
The company has entered into a license agreement with Alexion Pharmaceuticals, granting Monopar an exclusive worldwide license for ALXN-1840. As part of the agreement, Monopar issued 387,329 shares of common stock to Alexion and agreed to make a $4 million upfront cash payment.
Monopar is subject to various risks, including the need for additional funding, the uncertainty of regulatory approval processes, and the challenges of commercializing its product candidates.
The company acknowledges its dependence on successful clinical trials and regulatory approvals to advance its product pipeline and achieve commercialization.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Monopar Therapeutics Inc. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.