Microcap Monopar Therapeutics tumbles on planned stock offering

Monopar Therapeutics

28/10/2024 20:42

** Shares of Monopar Therapeutics  MNPR.O  tumble ~18% to $14.65
post-market after co unveils planned equity raise
** Co announces stock offering on best effort basis; deal size
not disclosed
    ** It plans to use net proceeds for general purposes,
including R&D, clinical trial expenditures, among other uses
    ** Co has 3.9 mln shares outstanding for ~$70 mln market cap
and ~2 mln shares of free float, per LSEG
    ** MNPR closed Monday's session up 5.3% at $17.83
** On Thurs, stock surged seven-fold from $4.63 to close at
$32.66 after co inked licensing deal with AstraZeneca  AZN.L 
for AZN's experimental drug being tested for Wilson disease, a
rare genetic condition that causes the buildup of toxic copper
levels
    ** Rodman & Renshaw exclusive placement agent for stock
offering

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))