Monopar Therapeutics Inc. (Nasdaq: MNPR) is making strides in its clinical programs, highlighted by the in-licensing of ALXN-1840 for Wilson disease and the advancement of its radiopharmaceutical therapies for advanced solid cancers. The company's strategic moves and recent financial results position it for continued growth in addressing unmet medical needs.
ALXN-1840 for Wilson Disease
Monopar acquired worldwide rights to ALXN-1840 (bis-choline tetrathiomolybdate) from Alexion, AstraZeneca Rare Disease, on October 23, 2024. ALXN-1840 is a late-stage drug candidate for Wilson disease, having completed a Phase 3 clinical trial. Monopar is preparing a regulatory package and plans to engage with the FDA, initially focusing on Wilson disease patients with more severe symptoms. Wilson disease is a rare genetic disorder affecting approximately 1 in 30,000 people worldwide, leading to copper accumulation in the liver, brain, and other vital organs. Current treatments have limitations, creating a need for more effective therapies.
Radiopharmaceutical Program Advancements
Monopar's radiopharmaceutical pipeline is progressing with two active clinical trials. In August 2024, the company received regulatory clearance in Australia for a Phase 1a therapeutic clinical trial of MNPR-101-Lu (MNPR-101 conjugated to lutetium-177) in patients with advanced solid cancers. The trial is currently enrolling patients.
Additionally, positive early clinical data from an ongoing Phase 1 imaging and dosimetry clinical trial of MNPR-101-Zr validate the tumor-targeting ability of MNPR-101-Zr. Data presented at the European Association of Nuclear Medicine Annual Congress 2024 demonstrated clear and durable tumor uptake of MNPR-101-Zr in a patient with advanced ovarian cancer, with favorable biodistribution and low off-target binding.
Monopar is also expanding its radiopharmaceutical pipeline through internal development efforts. In October 2024, the company filed a provisional patent application for new radiopharmaceutical compounds and a family of linkers used to connect radioisotopes with targeting agents, including its urokinase plasminogen activator receptor (uPAR)-targeting antibody MNPR-101. This patent could enable the creation of new proprietary radiopharmaceuticals targeting well-established, high-value cancer targets.
Financial Position
On October 30, 2024, Monopar completed a registered public offering of 1,181,540 shares of common stock at $16.25 per share, generating net proceeds of approximately $17.7 million. As of September 30, 2024, cash and cash equivalents were $6.0 million. The company projects that its current funds will be sufficient to continue operations at least into the first half of 2026. This includes assembling a regulatory package and initiating discussions with the FDA on ALXN-1840 for Wilson disease, continuing Phase 1 clinical trials with MNPR-101-Zr and MNPR-101-Lu, advancing its preclinical MNPR-101-Ac program into the clinic, and investing in internal R&D projects.
For the third quarter of 2024, Monopar reported a net loss of $1.3 million, or $0.37 per share, compared to a net loss of $2.0 million, or $0.69 per share, for the third quarter of 2023. Research and development expenses for the three months ended September 30, 2024, were $984,000, compared to $1,317,000 for the three months ended September 30, 2023.
