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.
