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Monopar Therapeutics Inc (NASDAQ:). released its third-quarter financial results and recent developments on Thursday. The company’s cash and equivalent holdings stood at $8.5 million as of September 30, 2023, which are projected to support the MNPR-101 program and MNPR-202’s preclinical studies until November 2024. The net loss for Q3 2023 was $2.0 million or $0.14 per share, a decrease from Q3 2022’s $2.4 million or $0.19 per share.
Research and development expenses decreased to $1,317,000 in the third quarter due to reduced Validive clinical trial-related expenses. However, general and administrative expenses rose to $749,000 due to increased salaries and benefits.
Monopar’s MNPR-101 radiopharmaceutical program, developed in collaboration with NorthStar Medical Radioisotopes LLC., is progressing towards a first-in-human study for patients with aggressive cancers. This drug is labeled with Zirconium-89 and Actinium-225.
In addition, the company’s Phase 1b open-label clinical trial of camsirubicin is at the fifth dose-level cohort, where two patients have shown tumor size reductions. Nine out of 14 enrolled patients have demonstrated stable disease post-camsirubicin treatment, as presented at the 2023 CTOS Annual Meeting.
MNPR-202, a camsirubicin analog under development, is exhibiting promising preclinical results against doxorubicin-resistant cancers. It shows similar cytotoxic potency to doxorubicin but functions differently.
InvestingPro Insights
Drawing from real-time data and insights from InvestingPro, it’s clear that Monopar Therapeutics Inc. presents a mixed financial picture. On one hand, InvestingPro data shows that the company holds more cash than debt on its balance sheet, an encouraging sign of financial health. This aligns with the reported cash and equivalent holdings of $8.5 million as of Q3 2023. In addition, Monopar’s liquid assets exceed short-term obligations, further bolstering its financial standing.
On the other hand, InvestingPro Tips suggest caution. The company’s stock has taken a significant hit over the last week and month. Furthermore, the company has not been profitable over the last twelve months and analysts do not anticipate it will be profitable this year. These insights align with the reported net loss for Q3 2023 of $2.0 million.
While the company’s financial indicators may give some investors pause, it’s worth noting that Monopar is making strides in its research and development efforts, particularly with its MNPR-101 and MNPR-202 programs. For those interested in more in-depth analysis and additional tips, InvestingPro offers a comprehensive suite of tools and resources for informed decision-making. Currently, there are 12 additional InvestingPro Tips available for Monopar Therapeutics Inc.
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