BUZZ-Microcap Monopar Therapeutics tumbles on planned stock offering

Reuters

Oct 29, 2024

** Shares of Monopar Therapeutics 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 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))

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