$MNPR
Monopar Therapeutics

2021 Q4 Form 10-Q Financial Statement

#000165495421012022 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $698.4K $631.7K $390.0K
YoY Change 10.86% 61.97% -27.78%
% of Gross Profit
Research & Development $1.983M $1.827M $1.256M
YoY Change 21.64% 45.5% 470.87%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.681M $2.459M $1.648M
YoY Change 18.63% 49.21% 116.84%
Operating Profit -$2.459M -$1.648M
YoY Change 49.21%
Interest Expense $530.00 $580.00 $10.00K
YoY Change -94.7% -94.2% -50.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.681M -$2.458M -$1.640M
YoY Change 25.85% 49.9% 121.62%
Income Tax
% Of Pretax Income
Net Earnings -$2.681M -$2.458M -$1.639M
YoY Change 25.85% 49.96% 121.55%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$212.9K -$195.4K -$147.5K
COMMON SHARES
Basic Shares Outstanding 12.59M shares 12.58M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.30M $22.34M $17.98M
YoY Change 21.29% 24.26% 300.45%
Cash & Equivalents $20.30M $22.34M $17.98M
Short-Term Investments
Other Short-Term Assets $217.7K $106.8K $100.0K
YoY Change 247.34% 6.8% -83.61%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $20.52M $22.45M $18.09M
YoY Change 22.15% 24.09% 254.01%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $68.86K $70.00K
YoY Change -100.0% -1.63%
Total Long-Term Assets $0.00 $68.86K $70.00K
YoY Change -100.0% -1.63%
TOTAL ASSETS
Total Short-Term Assets $20.52M $22.45M $18.09M
Total Long-Term Assets $0.00 $68.86K $70.00K
Total Assets $20.52M $22.52M $18.16M
YoY Change 21.66% 23.99% 255.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.581M $1.240M $540.0K
YoY Change 33.94% 129.62% 12.5%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $70.00K
YoY Change
Total Short-Term Liabilities $1.581M $1.240M $610.0K
YoY Change 33.94% 103.27% 27.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $50.00K
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $50.00K
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.581M $1.240M $610.0K
Total Long-Term Liabilities $0.00 $0.00 $50.00K
Total Liabilities $1.581M $1.240M $660.0K
YoY Change 34.32% 87.87% 37.5%
SHAREHOLDERS EQUITY
Retained Earnings -$41.29M -$38.61M
YoY Change 28.28%
Common Stock $12.60K $12.59K
YoY Change 10.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.94M $21.28M $17.49M
YoY Change
Total Liabilities & Shareholders Equity $20.52M $22.52M $18.16M
YoY Change 21.66% 23.99% 255.38%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$2.681M -$2.458M -$1.639M
YoY Change 25.85% 49.96% 121.55%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$2.032M -$1.941M -$1.300M
YoY Change 63.86% 49.33% 113.11%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.770K -9.980K 6.740M
YoY Change -22.3% -100.15% -67500.0%
NET CHANGE
Cash From Operating Activities -2.032M -1.941M -1.300M
Cash From Investing Activities
Cash From Financing Activities -7.770K -9.980K 6.740M
Net Change In Cash -2.040M -1.951M 5.440M
YoY Change 63.17% -135.87% -977.42%
FREE CASH FLOW
Cash From Operating Activities -$2.032M -$1.941M -$1.300M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font-size:10pt;font-family:times new roman;margin:0px"><strong>Note 1 - Nature of Business and Liquidity</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 45px"><strong><em>Nature of Business</em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">Monopar Therapeutics Inc. (“Monopar” or the “Company”) is a clinical-stage biopharmaceutical company focused on developing proprietary therapeutics designed to extend life or improve quality of life for cancer patients. Monopar currently has four compounds in development: 1) Validive<sup>®</sup> (clonidine hydrochloride mucobuccal tablet; clonidine HCI MBT), a Phase 2b/3 clinical stage, first-in-class mucoadhesive buccal tablet for the prevention of radiation induced severe oral mucositis (“SOM”) in oropharyngeal cancer patients; 2) camsirubicin (generic name for MNPR-201, GPX-150; 5-imino-13-deoxydoxorubicin), a Phase 1b clinical stage novel analog of doxorubicin engineered specifically to retain anticancer activity while minimizing toxic effects on the heart; 3) MNPR-101, a preclinical stage uPAR-targeted antibody being developed as a radioimmunotherapeutic and companion diagnostic for advanced cancers and severe COVID-19; and 4) an early stage camsirubicin analog, MNPR-202, for various cancers.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;"> </p><p style="font-size:10pt;font-family:times new roman;margin:0px 0px 0px 45px"><strong><em>Liquidity</em></strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">The Company has incurred an accumulated deficit of approximately $38.6 million as of September 30, 2021. To date, the Company has primarily funded its operations with the net proceeds from the Company’s initial public offering of its common stock on Nasdaq, sales of its common stock in the public market under a Capital on Demand<sup>TM</sup> Sales Agreement, private placements of convertible preferred stock and of common stock and cash provided in the camsirubicin asset purchase transaction. Management estimates that currently available cash will provide sufficient funds to enable the Company to meet its obligations through December 2022. The Company’s ability to fund its future operations, including the clinical development of Validive and camsirubicin, is dependent upon its ability to execute its business strategy, to obtain additional funding and/or to execute collaborative research agreements. There can be no certainty that future financing or collaborative research agreements will occur in the amounts required or at a time needed to maintain operations, if at all.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">The coronavirus disease (“COVID-19”) pandemic continues to affect economies and business around the world. In response to COVID-19 and its effects on clinical trials, in 2020 Monopar modified the original adaptive design Phase 3 clinical trial for its lead product candidate, Validive, to be a Phase 2b/3 clinical trial (“VOICE”) to better fit the types of trials which can enroll sufficient required patients in the current environment. This modification allowed the Company to activate the VOICE clinical trial without requiring near-term financing. To complete the VOICE clinical program, including, if required, completing a second Phase 3 confirmatory clinical trial, Monopar will require additional funding in the millions or tens of millions of dollars (depending on if the Company has consummated a collaboration or partnership or neither for Validive), which it is planning to pursue in the next 12 months. Due to many uncertainties, the Company is unable to estimate the pandemic’s financial impact or duration in light of vaccine rollouts and adverse new cases surging from COVID-19 variants at this time, or its potential impact on the Company’s current clinical trials, including COVID-19’s effect on drug candidate manufacturing, shipping, patient recruitment at clinical sites and regulatory agencies around the globe.</p>
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us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and reported amounts of expenses in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</p>
CY2020Q3 mnpr Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
11116409 shares
mnpr Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
12432318 shares
mnpr Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
10792413 shares
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash and cash equivalents. The Company maintains cash and cash equivalents at two reputable financial institutions. As of September 30, 2021, the balance at one financial institution was in excess of the $250,000 Federal Deposit Insurance Corporation (“FDIC”) insurable limit. The Company has not experienced any losses on its deposits since inception and management believes the Company is not exposed to significant risks with respect to these financial institutions.</p>
CY2021Q3 mnpr Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
12582728 shares
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
40000000 shares
mnpr Description Of Exercise Price
DescriptionOfExercisePrice
Exercise prices range from $4.90 to $9.67 per share.
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
mnpr Common Stock Aggregate Offering Price Description
CommonStockAggregateOfferingPriceDescription
up to $19.7 million
CY2021Q3 mnpr Number Of Shares Subject To Options Outstanding
NumberOfSharesSubjectToOptionsOutstanding
1638234 shares
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
12590612 shares
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1964724 shares
mnpr Average Gross Price Per Share
AverageGrossPricePerShare
10.02
us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
19100602 USD
mnpr Fees And Commission
FeesAndCommission
591188 USD
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1087463 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.94
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
174357 shares
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.08
CY2020 mnpr Stock Options Forfeited
StockOptionsForfeited
-3243 shares
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
8.47
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
400476 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.29
mnpr Stock Options Forfeited
StockOptionsForfeited
-17906 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
9.33
mnpr Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod
-2913 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.00
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1638234 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.86
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
408473 shares
mnpr Weighted Average Exercise Price Unvested Options Outstanding Expected To Vest
WeightedAverageExercisePriceUnvestedOptionsOutstandingExpectedToVest
7.40
CY2021Q3 mnpr Unamortized Unvested Balance Of Stock Base Compensation
UnamortizedUnvestedBalanceOfStockBaseCompensation
2900000 USD
mnpr Unamortized Unvested Balance Of Stock Base Compensation Period
UnamortizedUnvestedBalanceOfStockBaseCompensationPeriod
P2Y8M12D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1258577 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.47
mnpr Sharebased Compensation Arrangement By Sharebased Payment Award Option Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionOutstandingWeightedAverageRemainingContractualTerm2
P6Y11M23D
mnpr Options Fully Vested And Exercisable Contractual Term In Years
OptionsFullyVestedAndExercisableContractualTermInYears
P6Y1M17D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
99000 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
7000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
400476 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
174357 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.96
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.87
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.48
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.78
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
280883 USD
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
315516 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
838901 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
908129 USD
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
2700000 USD
CY2021Q3 mnpr Weighted Average Exercise Price
WeightedAverageExercisePrice
4.86
CY2021Q3 mnpr Weighted Average Vested Exercise Price
WeightedAverageVestedExercisePrice
3.88
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1138261 shares
CY2021Q3 mnpr Share Based Compensation Non Employee
ShareBasedCompensationNonEmployee
10300 USD
CY2020Q3 mnpr Share Based Compensation Non Employee
ShareBasedCompensationNonEmployee
17560 USD
mnpr Share Based Compensation Non Employee
ShareBasedCompensationNonEmployee
30900 USD
mnpr Share Based Compensation Non Employee
ShareBasedCompensationNonEmployee
52691 USD
CY2021Q3 mnpr Weighted Average Exercise Price Of Unvested Expected To Vest Share
WeightedAverageExercisePriceOfUnvestedExpectedToVestShare
7.40
mnpr Description Of Study Drug And Supplemental Financial Support
DescriptionOfStudyDrugAndSupplementalFinancialSupport
The Company will provide study drug and supplemental financial support for the clinical trial estimated to average approximately $2 million to $3 million per year.
mnpr Operating Lease Monthly Payment
OperatingLeaseMonthlyPayment
4487 USD
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
13466 USD
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
13462 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
41499 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
41565 USD

Files In Submission

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mnpr-20210930.xsd Edgar Link pending
mnpr-20210930_cal.xml Edgar Link unprocessable
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