Monopar Therapeutics Inc (NASDAQ: MNPR) has been a top gainer ever since it went public in December. It went public at an offer price of $8 and as of yesterday’s close, it was trading at $21.19. The company closed the IPO on the 23rd of December and sold 1, 277,778. This figure accounted for the underwriters’ over-allotment option before discounts and commissions. The company also announced that, it received a gross of $10.2 million, and net proceeds of $9.3 million after deductions.
Besides the IPO news, today the company has received a notice of effectiveness from the SEC. The notice meant that Monopar Therapeutics’ registration statement filed on the 3rd of January 2020 had been accepted. In the registration statement, the company declared that it was a clinical-stage biopharma that develops patented therapies for cancer patients.
The company also added that it was coming up with new drugs through licensing and the acquisition of cancer treatment companies that are in the pre-clinical and clinical phases. It also gave a list of compounds that are currently being developed.
The first one is Validive. This is a phase 3 novel mucoadhesive buccal tablet for preventing and treating severe oral mucositis that is triggered by radiation in people suffering from oropharyngeal cancer.
The second one is camsirubicin, a phase 2 clinical-stage treatment that is meant to maintain anticancer activity, while at the same time lowering the levels of toxicity on the heart. The third one is MNPR-101 which is a pre-IND monoclonal antibody that targets urokinase plasminogen activator receptor in treating advanced solid cancers.
Looking at its price action in yesterday’s session, the stock was trading between a low of $20 and a high of $23 before closing the day at $21.19. Volumes in the day stood at 46.03k.
About Monopar Therapeutics Inc
Monopar Therapeutics Inc is a biopharma company that develops patented technologies for cancer. It is based in Wilmette, Illinois.