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Monopar Therapeutics sets share count, price range for Nasdaq IPO

Monopar Therapeutics Inc. expects to price its IPO on the Nasdaq Capital Market between $8 and $10 per common share.

The Wilmette, Ill.-based biotechnology company is offering 4,444,445 common shares to raise net proceeds of about $36.8 million, calculated at $9 per share, the midpoint of the price range.

Underwriters have an option to buy up to an additional 666,667 shares, full exercise of which will increase net proceeds to about $42.4 million.

Monopar, which develops proprietary therapies for cancer patients, applied to list its shares under the ticker symbol MNPR.

About $20 million to $25 million of the proceeds will be used to advance the company's global phase 3 trial for Validive, a potential treatment for a complication arising from chemotherapy or radiotherapy in patients with oropharyngeal cancer.

About $5 million to $10 million will go toward a phase 2 study of camsirubicin and development of MNPR-101. Remaining funds we be used for general corporate purposes.

Chandler Robinson is CEO and a director of Monopar, which he co-founded in 2014.

Tacticgem LLC, Tactic Pharma LLC and Gem Pharmaceuticals LLC are among shareholders of Monopar.

JonesTrading Institutional Services LLC is the underwriter for the IPO.