Press release
Monopar Therapeutics Reports Fourth Quarter and Full-Year 2019 Financial Results and Business Updates
Initial public offering on Nasdaq Capital Market in December 2019 Orphan Drug Designation from the European Commission for camsirubicin for the treatment of
About this update from Monopar Therapeutics Inc.
[{"type":"text","content":"Initial public offering on Nasdaq Capital Market in December 2019\n Orphan Drug Designation from the European Commission for camsirubicin for the treatment of soft tissue sarcoma CHICAGO, March 27, 2020 (GLOBE NEWSWIRE) -- Monopar Therapeutics Inc. (Monopar or the Company) (Nasdaq: MNPR), a clinical-stage biopharmaceutical company focused on developing proprietary therapeutics designed to extend life or improve the quality of life for cancer patients, today announced fourth quarter and full-year 2019 financial results and business updates. Fourth Quarter and Recent Highlights Initial Public Offering In December 2019, the Company completed its initial public offering of 1,277,778 shares of common stock, including the underwriters’ exercise of their over-allotment option, at a public offering price of $8.00 per share before underwriting discounts and commissions. The shares began trading on the Nasdaq Capital Market on December 19, 2019 under the symbol “MNPR.” Orphan Drug Designation On February 18, 2020, the Company announced that the European Commission has granted Orphan Drug Designation for the Company’s Phase 2 clinical-stage drug candidate, camsirubicin, for the treatment of soft tissue sarcomas. Camsirubicin is being developed under a clinical trial partnership with Grupo Español de Investigación en Sarcomas (GEIS), an internationally renowned non-profit organization focused on the research and development of drugs for sarcoma cancers. The approximately 170-patient GEIS-sponsored camsirubicin Phase 2 clinical trial for the treatment of advanced soft tissue sarcoma is anticipated to begin in the second half of 2020. European Orphan Drug Designation benefits include protocol assistance, reduced EU regulatory filing fees and 10 years of market exclusivity. Designated orphan medicines are also eligible for conditional marketing authorization. Camsirubicin has already received Orphan Drug Designation in the U.S. by the Food and Drug Administration (FDA), which provides for similar benefits such as fee reductions and 7 years of market exclusivity. Fourth Quarter and Full Year Summary Financial Results Results for the Quarter and Year Ended December 31, 2019 Compared to the Quarter and Year Ended December 31, 2018 Cash and cash equivalents as of December 31, 2019 were approximately $13.2 million, compared to approximately $6.9 mi...