Monopar Therapeutics Inc . (NASDAQ:MNPR), a clinical-stage company specializing in radiopharmaceuticals for cancer treatment, has announced a reverse stock split in a move to comply with Nasdaq listing requirements.
The reverse stock split is scheduled to take effect after market close on Monday, August 12, 2024, with shares trading on a split-adjusted basis from the opening of trading on Tuesday, August 13, 2024.
The reverse stock split will consolidate every five shares of issued and outstanding common stock into one share. Consequently, the total number of outstanding shares will decrease from approximately 17.6 million to about 3.5 million.
The action was approved by Monopar's shareholders during the Annual Meeting on August 5, 2024, and subsequently by the Board of Directors.
All shareholders will be equally affected by the reverse stock split and will maintain their proportional ownership in the company, barring minor adjustments for fractional shares. Shareholders owning fractional shares will receive an additional fraction of a share to round up to a whole share. Monopar's authorized shares and par value per share will remain unchanged.
The company's transfer agent, VStock Transfer LLC, will provide stockholders with specific instructions on the exchange process for physical share certificates. Those holding shares in book-entry form will not be required to take any action.
The reverse stock split is part of Monopar's efforts to regain compliance with Nasdaq's listing rules.
Monopar Therapeutics continues to focus on the development of its radiopharmaceutical pipeline, including MNPR-101-Zr for imaging advanced cancers and MNPR-101 radio-immuno-therapeutic (RIT) for treating advanced cancers, alongside other early development programs.
InvestingPro Insights
As Monopar Therapeutics Inc. (NASDAQ:MNPR) implements a reverse stock split to meet Nasdaq's listing requirements, investors are closely monitoring the company's financial health and market performance. According to InvestingPro data, Monopar holds a market capitalization of approximately $9.68 million. The company's current Price/Earnings (P/E) ratio stands at -0.99, reflecting investor sentiment about future earnings prospects. The Price to Book (P/B) ratio, which can indicate how the market values the company's net assets, is at 1.29.
InvestingPro Tips suggest that Monopar has more cash than debt on its balance sheet, which could provide some financial flexibility in its operations. Additionally, the Relative Strength Index (RSI) indicates that Monopar's stock is currently in oversold territory, which might interest contrarian investors or those looking for a potential rebound. It's important to note that the stock has experienced a significant price drop over the past week, which could be a reaction to the reverse stock split announcement or other market factors.
For a more comprehensive analysis, investors can explore the additional 7 InvestingPro Tips available for Monopar at https://www.investing.com/pro/MNPR. These tips may provide deeper insights into the company's profitability outlook, gross profit margins, and short-term liquidity, among other key financial metrics.
As the company moves forward with its radiopharmaceutical development programs, these InvestingPro Insights could be valuable for shareholders and potential investors looking to understand the risks and opportunities associated with Monopar Therapeutics.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.