WILMETTE, Ill. - Monopar Therapeutics Inc . (NASDAQ:MNPR), a clinical-stage company specializing in radiopharmaceuticals for cancer treatment, announced positive preliminary findings from its MNPR-101-Zr Phase 1 clinical trial. The study focuses on the imaging and dosimetry of advanced cancers and has shown promising tumor targeting capabilities in humans.
MNPR-101, a humanized monoclonal antibody developed by Monopar, is designed to target cancers that express the urokinase plasminogen activator receptor (uPAR), which is prevalent in several types of cancer, including triple-negative breast, colorectal, and pancreatic cancers. The trial involved total-body positron emission tomography (PET) imaging of a patient with high uPAR-expressing cancer, using MNPR-101-Zr, a compound of MNPR-101 conjugated with the radioisotope zirconium-89.
The PET images, taken seven days post-administration, demonstrated the compound's specificity and durability, with higher uptake observed in metastatic tumors compared to normal tissue. This aligns with metastatic tumors previously identified using conventional FDG PET imaging.
Andrew Cittadine, Chief Operating Officer at Monopar, expressed satisfaction with the results, highlighting the compound's preferential uptake in tumors. Furthermore, Professor Rodney Hicks from the Melbourne Theranostic Innovation Centre, where the trial is being conducted, noted that MNPR-101-Zr showed promising retention at disease sites when compared to FDG, the current gold standard for detecting metastatic tumors.
Monopar anticipates the initiation of an MNPR-101-Lu Phase 1 therapeutic clinical trial later this year, with further data expected to be presented at the European Association of Nuclear Medicine 2024 Annual Congress in October.
The ongoing MNPR-101-Zr Phase 1 trial details can be found at ClinicalTrials.gov under the identifier NCT06337084. This news is based on a press release statement from Monopar Therapeutics.
In other recent news, Monopar Therapeutics has regained compliance with Nasdaq's minimum bid price requirement, marking a significant regulatory milestone for the company. The firm has also initiated a Phase 1 clinical trial in Australia for its novel cancer treatment, MNPR-101-Lu, following promising preclinical studies. Monopar reported its second quarter financial outcomes for 2024, revealing no generated revenues and a net loss of $0.10 per share. Analyst firms H.C. Wainwright and Jones Trading have maintained a Buy rating for Monopar, with H.C. Wainwright raising the price target to $6.00 from $2.00.
The company also announced a 5-for-1 reverse stock split, reducing the total number of outstanding shares. Monopar has expanded its partnership with NorthStar Medical Radioisotopes, securing a long-term contract for the supply of actinium-225, a key radioisotope used in cancer treatment. This development allows Monopar to fully own its MNPR-101 radiopharmaceutical platform and certain jointly developed intellectual property.
Lastly, there have been recent personnel changes within the company. CFO Kim R. Tsuchimoto has retired, with Karthik Radhakrishnan set to assume her roles. These are the latest developments in the ongoing operations of Monopar Therapeutics.
InvestingPro Insights
Monopar Therapeutics Inc. (NASDAQ:MNPR) has recently shared promising findings from its clinical trials, which could have significant implications for its future prospects. As investors digest this news, it's important to consider the financial health and market performance of the company to understand the broader context. According to InvestingPro data, Monopar holds a market capitalization of 8.45 million USD, signaling a relatively small player in the biopharmaceutical space. The company's price-to-book ratio, a measure of market valuation, stands at 1.39 as of the last twelve months leading up to Q2 2024, suggesting that the stock may be reasonably valued in terms of its net asset value.
However, Monopar's financials also reveal challenges. The company's operating income is adjusted to a loss of 7.49 million USD for the same period, and it has a significantly negative return on assets at -81.33%, indicating difficulties in generating profit from its assets. Moreover, the price of Monopar's stock has seen a dramatic decrease of 46.36% over the last three months, reflecting investor concerns or market adjustments.
InvestingPro Tips provide additional insights into Monopar's situation. The company holds more cash than debt on its balance sheet, which could provide some financial flexibility in its operations and research endeavors. However, Monopar suffers from weak gross profit margins and is not expected to be profitable this year, as analysts anticipate. Furthermore, while Monopar's liquid assets exceed its short-term obligations, ensuring the company can meet its immediate liabilities, it has not been profitable over the last twelve months and does not pay a dividend to shareholders, which may affect its attractiveness to income-focused investors.
For those interested in a deeper analysis of Monopar Therapeutics, InvestingPro offers additional tips and metrics to aid in investment decisions. To explore these further, visit https://www.investing.com/pro/MNPR, where a total of seven InvestingPro Tips are available, providing a comprehensive look at the company's financial health and market performance.
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