Monopar Therapeutics, which is developing therapies for chemotherapy-induced mucositis and cancers, popped 231% on Friday, the best first-day pop for an IPO since Baidu in 2005. The company raised $9 million by offering 1.1 million shares at $8, the low end of the range of $8 to $10, to command an $89 million market value. The pop is likely due in part to the extremely low float - insiders indicated on $6 million worth of shares in the offering (67%), leaving just $3 million in tradable shares.
Monopar Therapeutics listed on the Nasdaq under the symbol MNPR. JonesTrading and Arcadia Securities acted as lead managers on the deal.
