Press release
Monopar Therapeutics Reports Second Quarter 2020 Financial Results and Business Updates
Collaboration Formed to Develop COVID-19 Therapeutic with Monopar’s Proprietary MNPR-101 Technology CHICAGO, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Monopar
About this update from Monopar Therapeutics Inc.
[{"type":"text","content":"Collaboration Formed to Develop COVID-19 Therapeutic with Monopar’s Proprietary MNPR-101 Technology\nCHICAGO, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Monopar Therapeutics Inc. (Monopar or the Company) (Nasdaq: MNPR), a clinical-stage biopharmaceutical company primarily focused on developing proprietary therapeutics designed to extend life or improve the quality of life for cancer patients, today announced second quarter 2020 financial results and business updates.\n Second Quarter and Recent Highlights Collaboration with NorthStar Medical Radioisotopes to Develop Potential Therapeutic for Severe COVID-19 and Other Respiratory Diseases Monopar and NorthStar entered into a 50/50 collaboration to develop potential Radio-Immuno-Therapeutics (RITs) to treat severe COVID-19. Monopar will provide its pre-IND stage humanized uPAR targeted monoclonal antibody, known as MNPR-101, and NorthStar will supply a cytotoxic radioisotope. The aim is to create a highly selective agent that has the potential to kill aberrantly activated cytokine-producing immune cells thought to be largely responsible for the severe lung injury that contributes to poor outcomes and death in patients with severe COVID-19. Provisional patent has been filed that covers novel compositions and uses of cytotoxic radioisotopes attached to antibodies that bind to uPAR, thereby creating precision targeted radio-immuno-therapeutics (uPRITs) for the treatment of severe COVID-19 and other respiratory diseases. Validive Phase 2b/3 Clinical Trial and Camsirubicin Phase 2 Clinical Trial Continue on Schedule Monopar’s two clinical-stage programs both continue to be on schedule for first patient dosing in the second half of 2020. Second Quarter Summary Financial Results Results for the Quarter Ended June 30, 2020 Compared to the Quarter Ended June 30, 2019 Cash and cash equivalents as of June 30, 2020 were $12.5 million. Net loss for the three months ended June 30, 2020 was $1.4 million or $0.14 per share compared to net loss of $0.9 million or $0.10 per share for the three months ended June 30, 2019. Research and Development (R&D) Expenses R&D expenses for the three months ended June 30, 2020 were $0.8 million, compared to $0.3 million, for the three months ended June 30, 2019. This represents an increase of $0.5 million primarily attributed to increases in camsirubicin and Validive cli...