Monopar Therapeutics, which is developing therapies for chemotherapy-induced mucositis and cancers, lowered the proposed deal size for its upcoming IPO on Monday after postponing on October 2, 2019.
The Wilmette, IL-based company now plans to raise $20 million by offering 2.2 million shares at a price range of $8 to $10 to command a $110 million market cap. Insiders still intend to purchase $8 million worth of shares in the offering (40% of the deal). The company had previously filed to offer 4.4 million shares at a range of $8 to $10 before postponing on October 2, 2019. At the midpoint of the revised range, Monopar Therapeutics' proposed deal size and market cap are $20 million less than previously anticipated.
Close peer Galera Therapeutics is expected to price its $75 million IPO this Wednesday, November 6, 2019.
Monopar Therapeutics was founded in 2014 and plans to list on the Nasdaq under the symbol MNPR. JonesTrading, Aegis Capital Corp. and Arcadia Securities are the joint bookrunners on the deal.
