This is Monopar Therapeutics, a clinical-stage biopharmaceutical company.
Monopar Therapeutics is a clinical-stage biopharmaceutical company that saw its stock skyrocket 600% in just a few days. The stock was trading at $5.25 on Monday, October 21, but reached $32.66 on Thursday, October 24, and then fell to $17.
What motivated the significant increase was the agreement with Alexion for an exclusive license to develop and commercialize ALXN1840a drug in advanced phase of clinical trials for the treatment of Wilson’s Disease.
Over the years, ALXN1840 advanced to phase three clinical trials and is emerging as a promising candidate for the treatment of Wilson’s Disease. If approved, it is expected to generate several hundred million dollars in annual sales.
Thus, the agreement defined that Monopar will pay Alexion an initial amount in cash and shares, while future payments will depend on sales of the drug.
Reviewing the company’s development pipeline, Monopar showed encouraging results last month in its Phase I imaging trial for MNPR-101-Zr. Additionally, the company moved forward with MNPR-101its proprietary antibody targeting the urokinase plasminogen activator receptor (uPAR), into phase 1a clinical trials. This targets the uPAR receptor to deliver radiation therapy that destroys cancer cells, Forbes explained.
For clinical-stage pharmaceutical companies, their stock prices often depend largely on advances in their drugs in development. Although MNPR stock recorded an impressive 800% growth this year, it did not perform the same in previous years. This is how it performed in previous years: -48% in 2021, -26% in 2022 and -86% in 2023.
Source: Ambito
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