Monopar Reports Fourth Quarter and Full-Year 2024 Financial Results and Recent Developments
WILMETTE, Ill., March 31, 2025 (GLOBE NEWSWIRE) -- Monopar Therapeutics Inc. (NASDAQ:MNPR), a clinical-stage biopharmaceutical company focused on developing innovative treatments for patients with unmet medical needs, today announced fourth quarter and full-year 2024 financial results and summarized recent developments.
"2024 was a productive year for Monopar, with the in-licensing of ALXN1840, the initiation of two first-in-human radiopharma Phase 1 clinical trials, and the strengthening of our balance sheet with net proceeds of over $55 million from financings," said Chandler Robinson, MD, Chief Executive Officer of Monopar. "We are especially grateful to the Wilson disease patients. Their testimonies and support are what provided the opportunity for Monopar to progress ALXN1840 toward an NDA filing."
Recent Program Developments
ALXN1840, Plan to Submit NDA with FDA for Wilson Disease in Early 2026
Wilson disease is a rare and progressive genetic condition in which the body's pathway for removing excess copper is compromised, leading to damage from toxic copper build-up in tissues and organs such as the liver and brain. ALXN1840 is a potent binder and mobilizer of copper, as demonstrated in a Phase 3 clinical trial that met its primary endpoint. In October 2024, Monopar announced the execution of a worldwide exclusive license to ALXN1840 with Alexion, AstraZeneca Rare Disease ("AZ"). As part of this transaction, AZ received a total cash payment of $4.0 million, was issued 9.9% ownership of Monopar's outstanding common stock, and is entitled to receive regulatory approval and sales milestones along with a tiered royalty based on net sales.
MNPR-101, Currently Enrolling Phase 1 Imaging and Therapeutic Oncology Trials
Imaging agent MNPR-101-Zr (MNPR-101 conjugated to zirconium-89) and therapeutic agent MNPR-101-Lu (MNPR-101 conjugated to lutetium-177) target the urokinase plasminogen activator receptor ("uPAR"), which is expressed in numerous aggressive cancers such as triple-negative breast, colorectal, and pancreatic cancers.
Initiated Phase 1a clinical trial for novel therapeutic radiopharmaceutical MNPR-101-Lu in patients with advanced cancers
Dosed first patient with MNPR-101-Lu in December 2024
Presented encouraging human clinical imaging and dosimetry data of MNPR-101-Zr at the European Association of Nuclear Medicine ("EANM") 2024 Annual Congress
uPAR expression, as detected by MNPR-101-Zr, has been seen to date in breast, colorectal, pancreatic, adrenocortical carcinoma, and ovarian cancer patients
Filed a patent application covering new therapeutic radiopharmaceuticals based on a novel family of linkers used to connect radioisotopes with targeting agents, including Monopar's uPAR targeting antibody MNPR-101
Recent Financings
In Q4 2024, we raised net proceeds of over $55 million from the following financings:
On October 30, 2024, pursuant to a placement agent agreement with Rodman & Renshaw LLC, we sold 1,181,540 shares of our common stock at $16.25 in a public offering, yielding net proceeds of approximately $17.8 million.
On December 23, 2024, ...
