WILMETTE, Ill. and Beloit, Wis. - Monopar Therapeutics Inc . (NASDAQ: NASDAQ:MNPR) and NorthStar Medical Radioisotopes, LLC have revised and expanded their existing partnership, the companies announced today. The updated agreement includes a long-term supply contract for NorthStar to provide Monopar with actinium-225 (Ac-225), a radioisotope used in cancer treatment.
This collaboration is expected to leverage NorthStar's advancements in manufacturing Ac-225 and Monopar's preclinical successes with its MNPR-101 radiopharma program. Monopar has also secured full ownership and title of its MNPR-101 radiopharmaceutical platform, along with certain jointly developed intellectual property, enhancing its position in the market.
The companies have shared ownership of a patent application for the use of PCTA as a linker with Ac-225. This new linker has demonstrated superior performance over the industry-standard DOTA in terms of binding and yield with Ac-225.
Chandler Robinson, MD, CEO of Monopar, expressed enthusiasm about the potential of the MNPR-101 platform and the secured long-term access to Ac-225. Frank Scholz, PhD, CEO of NorthStar, noted NorthStar's readiness to become the first to produce Ac-225 on a commercial scale using proprietary technology.
Monopar Therapeutics focuses on developing treatments for cancer, including a Phase 1-stage MNPR-101-Zr for imaging advanced cancers and a late preclinical-stage MNPR-101 radio-immuno-therapeutic (RIT) for treating advanced cancers.
NorthStar Medical Radioisotopes is known for its role in producing radioisotopes for cancer detection and treatment. The company is on track to be the inaugural commercial-scale producer of non-carrier-added Ac-225, a significant development in radiopharmaceutical therapy.
This news article is based on a press release statement.
In other recent news, Monopar Therapeutics has seen several significant developments. The biopharmaceutical company recently announced that CFO Kim R. Tsuchimoto will retire, with Karthik Radhakrishnan assuming her roles effective July 1, 2024. Radhakrishnan brings over 20 years of experience in financial strategy and investment to the company.
Monopar has also filed a provisional patent application for advancements in its MNPR-101 radiopharmaceutical program. The patent application details the MNPR-101-Zr construct, a zirconium-89 labeled version of Monopar's proprietary humanized monoclonal antibody, designed to target the urokinase plasminogen activator receptor (uPAR), commonly expressed in advanced cancers.
Jones Trading has upgraded Monopar's stock rating from "Hold" to "Buy," setting a new price target at $2.00. This follows the company's announcement of a Phase 1 dosimetry trial in Australia for MNPR-101-Zr. Furthermore, Monopar has initiated a Phase 1 clinical trial for its novel imaging agent MNPR-101-Zr, intended for patients with advanced cancers. This trial is currently recruiting participants at the Melbourne Theranostic Innovation Centre in Australia.
InvestingPro Insights
Amidst the expansion of their partnership and the bolstering of their MNPR-101 radiopharma program, Monopar Therapeutics Inc. (NASDAQ: MNPR) presents a mixed financial landscape according to the latest data from InvestingPro. With a market capitalization of $13.54 million and a notable six-month price total return of 105.36%, Monopar's stock has shown significant volatility and growth potential in recent months. Additionally, the company's share price has rallied to 44.8% of its 52-week high, indicating a strong recovery from previous lows.
InvestingPro Tips reveal that Monopar holds more cash than debt, suggesting a solid balance sheet. This financial stability may provide the company with the flexibility to invest in its MNPR-101 radiopharmaceutical platform and support its development and commercialization. Furthermore, Monopar's liquid assets exceed its short-term obligations, which is a positive sign for the company's ability to meet its immediate financial commitments.
However, the company is not without its challenges. Monopar suffers from weak gross profit margins and analysts do not anticipate the company will be profitable this year. These factors could impact the long-term sustainability of the company's growth. Additionally, Monopar does not pay a dividend, which may influence investor decisions, particularly for those seeking regular income from their investments.
For investors looking to delve deeper into Monopar's financials and future prospects, InvestingPro offers additional insights. There are currently 7 more InvestingPro Tips available, which can be accessed at: https://www.investing.com/pro/MNPR. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to a wealth of analysis and data to inform investment decisions.
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