Monopar Reports Fourth Quarter and Full-Year 2024 Financial Results and Recent Developments

Core Viewpoint - Monopar Therapeutics Inc. reported a productive year in 2024, highlighted by the in-licensing of ALXN1840, initiation of two Phase 1 clinical trials, and a strengthened balance sheet with over $55 million in net proceeds from financings [2][3]. Recent Program Developments - The company plans to submit a New Drug Application (NDA) for ALXN1840 targeting Wilson disease in early 2026, following a successful Phase 3 clinical trial [3]. - ALXN1840 is a potent copper binder and mobilizer, addressing a rare genetic condition that leads to toxic copper accumulation [3]. - Monopar has executed a worldwide exclusive license for ALXN1840 with Alexion, which included a cash payment of $4 million and a 9.9% equity stake in Monopar [3]. Clinical Trials - MNPR-101 is currently enrolling in Phase 1 imaging and therapeutic oncology trials, targeting aggressive cancers through its imaging agent MNPR-101-Zr and therapeutic agent MNPR-101-Lu [4]. Recent Financings - In Q4 2024, Monopar raised over $55 million through various financings, including public offerings and private placements [5]. - The company dosed its first patient with MNPR-101-Lu in December 2024 and presented promising clinical data at the EANM 2024 Annual Congress [5]. Financial Results - As of December 31, 2024, Monopar reported cash and short-term investments of $60.2 million, sufficient to fund operations through at least December 31, 2026 [6]. - The net loss for Q4 2024 was $10.9 million, compared to $1.8 million in Q4 2023, while the annual net loss for 2024 was $15.6 million, up from $8.4 million in 2023 [7]. Research and Development Expenses - R&D expenses for Q4 2024 were $9.9 million, significantly higher than $1.0 million in Q4 2023, primarily due to the in-licensing of ALXN1840 [8]. - For the year ended December 31, 2024, R&D expenses totaled $13.0 million, compared to $5.6 million in 2023, reflecting increased investment in clinical programs [9]. General and Administrative Expenses - G&A expenses for Q4 2024 were $1.2 million, up from $0.9 million in Q4 2023, attributed to increases in personnel salaries and consulting fees [10]. - For the full year 2024, G&A expenses remained stable at $3.2 million compared to 2023 [11].