Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Mar. 08, 2024 | Jun. 30, 2023 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001645469 | ||
Entity Registrant Name | Monopar Therapeutics Inc. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2023 | ||
Document Transition Report | false | ||
Entity File Number | 001-39070 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 32-0463781 | ||
Entity Address, Address Line One | 1000 Skokie Blvd., Suite 350 | ||
Entity Address, City or Town | Wilmette | ||
Entity Address, State or Province | IL | ||
Entity Address, Postal Zip Code | 60091 | ||
City Area Code | 847 | ||
Local Phone Number | 388-0349 | ||
Title of 12(b) Security | Common stock, $0.001 par value | ||
Trading Symbol | MNPR | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | true | ||
Entity Ex Transition Period | true | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 4,608,643 | ||
Entity Common Stock, Shares Outstanding | 17,454,925 | ||
Auditor Firm ID | 207 | ||
Auditor Name | BPM LLP | ||
Auditor Location | Walnut Creek, California |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 7,266,080 | $ 8,186,194 |
Investments | 0 | 4,933,550 |
Other current assets | 66,433 | 45,982 |
Total current assets | 7,332,513 | 13,165,726 |
Operating lease right-of-use asset | 12,646 | 61,228 |
Total assets | 7,345,159 | 13,226,954 |
Current liabilities: | ||
Accounts payable, accrued expenses and other current liabilities | 1,757,393 | 3,128,894 |
Total current liabilities | 1,757,393 | 3,128,894 |
Operating lease liability - non-current | 0 | 8,408 |
Total liabilities | 1,757,393 | 3,137,302 |
Commitments and contingencies (Note 9) | ||
Common stock, par value of $0.001 per share, 40,000,000 shares authorized, 14,904,497 and 12,946,573 shares issued and outstanding as of December 31, 2023, and December 31, 2022, respectively | 14,905 | 12,947 |
Additional paid-in capital | 65,793,210 | 61,871,784 |
Accumulated other comprehensive income (loss) | (14,132) | 8,942 |
Accumulated deficit | (60,206,217) | (51,804,021) |
Total stockholders’ equity | 5,587,766 | 10,089,652 |
Total liabilities and stockholders’ equity | $ 7,345,159 | $ 13,226,954 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2023 | Dec. 31, 2022 |
Common Stock, Par Value (in dollars per share) | $ 0.001 | $ 0.001 |
Common Stock, Authorized (in shares) | 40,000,000 | 40,000,000 |
Common Stock, Issued (in shares) | 14,904,497 | 12,946,573 |
Common Stock, Outstanding (in shares) | 14,904,497 | 12,946,573 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Operating expenses: | ||
Research and development | $ 5,600,193 | $ 7,591,601 |
General and administrative | 3,231,042 | 2,945,276 |
Total operating expenses | 8,831,235 | 10,536,877 |
Loss from operations | (8,831,235) | (10,536,877) |
Interest income | 429,039 | 21,239 |
Net loss | (8,402,196) | (10,515,638) |
Other comprehensive income (loss): | ||
Foreign currency translation loss | (17,272) | (2,937) |
Unrealized (loss) gain on investments | (5,802) | 15,039 |
Comprehensive loss | $ (8,425,270) | $ (10,503,536) |
Net loss per share: | ||
Basic and diluted (in dollars per share) | $ (0.61) | $ (0.83) |
Weighted average shares outstanding: | ||
Basic and diluted (in shares) | 13,823,951 | 12,718,166 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity - USD ($) | Share-Based Payment Arrangement, Nonemployee [Member] Common Stock [Member] | Share-Based Payment Arrangement, Nonemployee [Member] Additional Paid-in Capital [Member] | Share-Based Payment Arrangement, Nonemployee [Member] AOCI Attributable to Parent [Member] | Share-Based Payment Arrangement, Nonemployee [Member] Retained Earnings [Member] | Share-Based Payment Arrangement, Nonemployee [Member] | Share-Based Payment Arrangement, Employee [Member] Common Stock [Member] | Share-Based Payment Arrangement, Employee [Member] Additional Paid-in Capital [Member] | Share-Based Payment Arrangement, Employee [Member] AOCI Attributable to Parent [Member] | Share-Based Payment Arrangement, Employee [Member] Retained Earnings [Member] | Share-Based Payment Arrangement, Employee [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 12,598,125 | ||||||||||||||
Balance at Dec. 31, 2021 | $ 12,598 | $ 60,220,016 | $ (3,160) | $ (41,288,383) | $ 18,941,071 | ||||||||||
Issuance of common stock under a Capital on DemandTM Sales Agreement with JonesTrading Institutional Services LLC, net of commissions, fees and expenses (in shares) | 64,573 | ||||||||||||||
Issuance of common stock under a Capital on DemandTM Sales Agreement with JonesTrading Institutional Services LLC, net of commissions, fees and expenses of $87,611 | $ 65 | 87,253 | 0 | 0 | 87,318 | ||||||||||
Issuance of common stock to vested restricted stock units (in shares) | 45,744 | 70,131 | |||||||||||||
Issuance of common stock to non-employee directors pursuant to vested restricted stock units | $ 45 | $ (45) | $ 0 | $ 0 | $ 0 | $ 70 | $ (76,703) | $ 0 | $ 0 | $ (76,633) | |||||
Issuance of common stock upon exercise of stock options (in shares) | 168,000 | ||||||||||||||
Issuance of common stock upon exercise of stock options | $ 169 | 0 | 0 | 0 | 169 | ||||||||||
Stock-based compensation (non-cash) | 0 | 1,641,263 | 0 | 0 | 1,641,263 | ||||||||||
Net loss | 0 | 0 | 0 | (10,515,638) | (10,515,638) | ||||||||||
Other comprehensive income (loss) | $ 0 | 0 | 12,102 | 0 | 12,102 | ||||||||||
Balance (in shares) at Dec. 31, 2022 | 12,946,573 | ||||||||||||||
Balance at Dec. 31, 2022 | $ 12,947 | 61,871,784 | 8,942 | (51,804,021) | 10,089,652 | ||||||||||
Issuance of common stock under a Capital on DemandTM Sales Agreement with JonesTrading Institutional Services LLC, net of commissions, fees and expenses (in shares) | 1,793,441 | ||||||||||||||
Issuance of common stock under a Capital on DemandTM Sales Agreement with JonesTrading Institutional Services LLC, net of commissions, fees and expenses of $87,611 | $ 1,794 | 2,070,710 | 0 | 0 | 2,072,504 | ||||||||||
Issuance of common stock to vested restricted stock units (in shares) | 40,532 | 123,951 | |||||||||||||
Issuance of common stock to non-employee directors pursuant to vested restricted stock units | $ 40 | $ (40) | $ 0 | $ 0 | $ 0 | $ 124 | $ (47,093) | $ 0 | $ 0 | $ (46,969) | |||||
Issuance of common stock upon exercise of stock options (in shares) | 0 | ||||||||||||||
Issuance of common stock upon exercise of stock options | $ 0 | 0 | 0 | 0 | 0 | ||||||||||
Stock-based compensation (non-cash) | 0 | 1,897,849 | 0 | 0 | 1,897,849 | ||||||||||
Net loss | 0 | 0 | 0 | (8,402,196) | (8,402,196) | ||||||||||
Other comprehensive income (loss) | $ 0 | 0 | (23,074) | 0 | (23,074) | ||||||||||
Balance (in shares) at Dec. 31, 2023 | 14,904,497 | ||||||||||||||
Balance at Dec. 31, 2023 | $ 14,905 | $ 65,793,210 | $ (14,132) | $ (60,206,217) | $ 5,587,766 |
Consolidated Statement of Sto_2
Consolidated Statement of Stockholders' Equity (Parentheticals) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Stock Issuance cost | $ 98,230 | $ 87,611 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (8,402,196) | $ (10,515,638) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation expense (non-cash) | 1,897,849 | 1,641,263 |
Changes in operating assets and liabilities, net | ||
Other current assets | (20,410) | 171,755 |
Accounts payable, accrued expenses and other current liabilities | (1,333,536) | 1,478,299 |
Operating lease right-of-use assets and liabilities, net | 0 | (4,238) |
Net cash used in operating activities | (7,858,293) | (7,228,559) |
Cash flows from investing activities: | ||
Purchase of short-term investments | (7,882,094) | (4,918,511) |
Maturities of short-term investments | 12,809,842 | 0 |
Net cash provided by (used in) investing activities | 4,927,748 | (4,918,511) |
Cash flows from financing activities: | ||
Cash proceeds from the sales of common stock under a Capital on DemandTM Sales Agreement | 2,074,196 | 109,337 |
Taxes paid related to net share settlement of vested restricted stock units | (46,969) | (76,633) |
Cash proceeds from the issuance of stock upon exercise of stock options | 0 | 169 |
Net cash provided by financing activities | 2,027,227 | 32,873 |
Effect of exchange rates | (16,796) | (3,478) |
Net decrease in cash and cash equivalents | (920,114) | (12,117,675) |
Cash and cash equivalents at beginning of period | 8,186,194 | 20,303,869 |
Cash and cash equivalents at end of period | 7,266,080 | 8,186,194 |
Supplemental disclosure of non-cash investing and financing activities | ||
Accrued financing fees | $ 1,692 | $ 22,018 |
Insider Trading Arrangements
Insider Trading Arrangements | 12 Months Ended |
Dec. 31, 2023 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | 9B. During the quarter ended December 31, 2023, no 10b5 1 10b5 1 408 |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Liquidity | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1 Nature of Business Monopar Therapeutics Inc. (“Monopar” or the ”Company”) is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer patients. Monopar currently has several compounds in development: 1 101 2 101 3 201, 150; 5 13 1b 4 202, March 27, 2023, 2b/3 not 2023. not 2023 Liquidity The Company has incurred an accumulated deficit of approximately $60.2 million as of December 31, 2023 not June 30, 2025. 101 no Risks and Uncertainties The termination of the Company’s Validive clinical trial at the end of March 2023 $1.00 30 August 28, 2023, 180 February 27, 2024, second 180 no not may may Market variables over which the Company has no The Russia-Ukraine war, and resulting sanctions against Russia and Russian entities or allies, have increased fuel costs and may may may may There remains uncertainties as to the long-term impacts of COVID- 19 19’s 19 19’s |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2 Basis of Presentation These consolidated financial statements include the financial results of Monopar Therapeutics Inc., its wholly-owned French subsidiary, Monopar Therapeutics, SARL, and its wholly-owned Australian subsidiary, Monopar Therapeutics Australia Pty Ltd and have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) and include all disclosures required by GAAP for financial reporting. All intercompany accounts have been eliminated. The principal accounting policies applied in the preparation of these consolidated financial statements are set out below and have been consistently applied in all periods presented. The Company has been primarily involved in performing research activities, developing product candidates, and raising capital to support and expand these activities. The accompanying consolidated financial statements contain all normal, recurring adjustments necessary to present fairly the Company’s consolidated financial position as of December 31, 2023 2022 December 31, 2023 2022 Functional Currency The Company’s consolidated functional currency is the U.S. Dollar. The Company’s Australian subsidiary and French subsidiary use the Australian Dollar and European Euro, respectively, as their functional currency. At each quarter-end, each foreign subsidiary’s balance sheets are translated into U.S. Dollars based upon the quarter-end exchange rate, while their statements of operations and comprehensive loss and statements of cash flows are translated into U.S. Dollars based upon an average exchange rate during the period. Comprehensive Loss Comprehensive loss represents net loss plus any income or losses not Use of Estimates 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 consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Going Concern Assessment The Company applies Accounting Standards Codification 205 40 205 40” Disclosure of Uncertainties about an Entity s Ability to Continue as a Going Concern 205 40 one one March 2024, June 30, 2025 no Cash Equivalents The Company considers all highly liquid investments purchased with a maturity of three December 31, 2023 2022 two Investments The Company considers all of its investments in debt securities (U.S. Government or Agencies), with maturities at the date of purchase from three one December 31, 2022 three one Prepaid Expenses Prepayments are expenditures for goods or services before the goods are used or the services are received and are charged to operations as the benefits are realized. Prepaid expenses may one Leases Lease agreements are evaluated to determine whether an arrangement is or contains a lease in accordance with ASC 842, Leases Concentration of Credit Risk 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 December 31, 2023 one not not Fair Value of Financial Instruments For financial instruments consisting of cash and cash equivalents, investments, accounts payable, accrued expenses, and other current liabilities, the carrying amounts are reasonable estimates of fair value due to their relatively short maturities. The Company adopted ASC 820, Fair Value Measurements and Disclosures, The standard establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources. Unobservable inputs reflect a reporting entity’s pricing an asset or liability developed based on the best information available under the circumstances. The fair value hierarchy consists of the following three Level 1 Level 2 Level 3 Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each reporting period. There were no 1, 2 3 December 31, 2023 2022 No 2 3 December 31, 2023 2022 Assets and Liabilities Measured at Fair Value on a Recurring Basis December 31, 2023 Level 1 Total Assets: Cash equivalents (1) $ 6,544,910 $ 6,544,910 Total $ 6,544,910 $ 6,544,910 December 31, 2022 Level 1 Total Assets: Cash equivalents (1) $ 7,248,946 $ 7,248,946 Investments (2) 4,933,550 4,933,550 Total $ 12,182,496 $ 12,182,496 ( 1 December 31, 2023 2022 two three ( 2 three one Net Loss per Share Net loss per share for the years ended December 31, 2023 2022 December 31, 2023 2022 December 31, 2023 2022 December 31, 2023 2022 December 31, 2023 2022 Research and Development Expenses Research and development (“R&D”) costs are expensed as incurred. Major components of R&D expenses include salaries and benefits paid to the Company’s R&D staff, compensation expenses of G&A personnel performing R&D, fees paid to consultants and to the entities that conduct certain R&D activities on the Company’s behalf and materials and supplies which were used in R&D activities during the reporting period. Clinical Trials Accruals The Company accrues and expenses the costs for clinical trial activities performed by third Collaborative Agreements The Company and its collaborative partners are active participants in collaborative agreements and all parties would be exposed to significant risks and rewards depending on the technical and commercial success of the activities. Contractual payments to the other parties in collaboration agreements and costs incurred by the Company when the Company is deemed to be the principal participant for a given transaction are recognized on a gross basis in R&D expenses. Royalties and license payments are recorded as earned. During the years ended December 31, 2023 2022 no no not Licensing Agreements The Company has various agreements licensing technology utilized in the development of its product or technology programs. The licenses contain success milestone obligations and royalties on future sales. During the years ended December 31, 2023 2022 no no not Patent Costs The Company expenses costs relating to issued patents and patent applications, including costs relating to legal, renewal and application fees, as a component of general and administrative expenses in its consolidated statements of operations and comprehensive loss. Income Taxes The Company uses an asset and liability approach for accounting for deferred income taxes, which requires recognition of deferred income tax assets and liabilities for the expected future tax consequences of events that have been recognized in its financial statements but have not The Company regularly assesses the likelihood that its deferred income tax assets will be realized from recoverable income taxes or recovered from future taxable income. To the extent that the Company believes any amounts are not not” not Internal Revenue Code Sections 382 383 382 383” not 382 383 382 383 ASC 740, Income Taxes not.” not not” December 31, 2023 2022 2016 2019 12 not” not” December 31, 2023 2022 not The Company is subject to U.S. Federal, Illinois and California state income taxes. In addition, the Company is subject to local tax laws of France and Australia. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. Monopar was originally formed as an LLC in December 2014, December 16, 2015. 2015 2022. not December 31, 2023 December 31, 2023 Stock-Based Compensation The Company accounts for stock-based compensation arrangements with employees, non-employee directors and consultants using a fair value method, which requires the recognition of compensation expense for costs related to all stock-based awards, including stock option and restricted stock unit (“RSU”) grants. The fair value method requires the Company to estimate the fair value of stock-based payment awards on the date of grant using an option pricing model or the closing stock price on the date of grant in the case of RSUs. Stock-based compensation expense for awards granted to employees, non-employee directors and consultants are based on the fair value of the underlying instrument calculated using the Black-Scholes option-pricing model on the date of grant for stock options and using the closing stock price on the date of grant for RSUs and recognized as expense on a straight-line basis over the requisite service period, which is the vesting period. Determining the appropriate fair value model and related assumptions requires judgment, including estimating the future stock price volatility and expected terms. For stock options granted in 2022, two December 18, 2019 December 31, 2021. 2023, three December 18, 2019 December 31, 2022. not not Recent Accounting Pronouncements In October 2023, 2023 06, Disclosure Improvements, Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. not X two 2023 06, 8 In December 2023, No. 2023 09, Income Taxes (Topic 740 December 15, 2024, not |
Note 3 - Investments
Note 3 - Investments | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Investment [Text Block] | Note 3 As of December 31, 2023 two 90 As of December 31, 2023 Cost Basis Unrealized Gains Aggregate Fair Value U.S. Treasury Bills $ 2,971,103 $ 9,237 $ 2,980,340 Money Market Accounts 3,564,570 — 3,564,570 Total $ 6,535,673 $ 9,237 $ 6,544,910 As of December 31, 2023 no December 31, 2023. As of December 31, 2022 Cost Basis Unrealized Gains Aggregate Fair Value U.S. Treasury Bills $ 6,905,171 $ 15,039 $ 6,920,210 Money Market Accounts 5,262,286 — 5,262,286 Total $ 12,167,457 $ 15,039 $ 12,182,496 As of December 31, 2022 2022. December 31, 2022 See Note 2 |
Note 4 - Capital Stock
Note 4 - Capital Stock | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | Note 4 Holders of the common stock are entitled to receive such dividends as may no one one The Company’s amended and restated certificate of incorporation authorizes the Company to issue 40,000,000 shares of common stock with a par value of $0.001 per share. Sales of Common Stock On April 20, 2022, may April 20, 2022, 3, 3 January 4, 2023, December 31, 2023 2022 December 31, 2023, December 31, 2022, As of December 31, 2023 |
Note 5 - Stock Incentive Plan
Note 5 - Stock Incentive Plan | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | Note 5 In April 2016, 2016 October 2017, April 2020, June 2020. April 2021, 2016 162 no 100% may June 2021. March 2022, June 2022. During the year ended December 31, 2023 December 31, 2023 Under the Plan, the per share exercise price for the shares to be issued upon exercise of an option shall be determined by the Plan Administrator, except that the per share exercise price shall be no less than 100% Stock option activity under the Plan was as follows: Options Outstanding Number of Shares Subject to Options Weighted-Average Exercise Price Balance at January 1, 2022 1,543,989 $ 4.78 Granted 604,064 2.83 Forfeited (337,103 ) 6.13 Exercised (168,000 ) 0.001 Balance at December 31, 2022 1,642,950 4.28 Granted (1) 508,902 3.14 Forfeited (2) (42,851 ) 3.93 Exercised — — Balance at December 31, 2023 2,109,001 4.01 Unvested options outstanding expected to vest (3) 601,746 3.37 ( 1 6/48ths six 1/48th one one ( 2 ( 3 A summary of options outstanding as of December 31, 2023 Exercise Prices Number of Shares Subject to Options Outstanding Weighted-Average Remaining Contractual Term in Years Number of Shares Subject to Options Fully Vested and Exercisable Weighted-Average Remaining Contractual Term in Years $0.001 - $5.00 1,371,895 6.95 832,423 5.80 $5.01 - $10.00 617,942 5.50 555,668 5.30 $10.01 - $15.00 113,039 6.09 113,039 6.09 $15.01 - $20.00 6,125 6.09 6,125 6.09 2,109,001 6.48 1,507,255 5.64 Restricted stock unit activity under the Plan was as follows: Restricted Stock Units Weighted-Average Grant Date Fair Value per Unit Unvested balance at December 31, 2021 111,462 $ 8.44 Granted 403,522 2.80 Vested (149,706 ) 4.07 Forfeited (92,628 ) 4.01 Unvested balance at December 31, 2022 272,650 4.00 Granted 368,345 3.16 Vested (222,904 ) 3.73 Forfeited — — Unvested Balance at December 31, 2023 418,091 3.40 Stock option grants and fair values under the Plan were as follows: Years Ended December 31, 2023 2022 Stock options granted 508,902 604,064 Fair value of shares vested $ 980,455 $ 970,451 At December 31, 2023 no December 31, 2023 During the years ended December 31, 2023 2022 No |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 6 As of December 31, 2023 December 31, 2023 None December 31, 2023 February 1, 2019, no |
Note 7 - Income Taxes
Note 7 - Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 7 Income Taxes ASC 740, Income Taxes not.” not not” December 31, 2023 2022 The provision for income taxes for December 31, 2023 2022 As of December 31, 2023 2022 Current: Federal $ - $ - State 800 800 Foreign - - Total current: 800 800 Deferred: Federal - - State - - Foreign - - Total deferred: - - Total provision* $ 800 $ 800 *Total provision for income taxes of $800 for each of the years ended December 31, 2023 2022 not The difference between the effective tax rate and the U.S. federal tax rate is as follows (in %): As of December 31, 2023 2022 Federal income tax 21.00 21.00 State income taxes, less federal benefit 6.03 6.39 Tax credits 3.12 5.57 Permanent differences (2.81 ) (2.45 ) Change in valuation allowances (25.33 ) (32.58 ) Other (2.02 ) 2.06 Effective tax rate benefit (expense) (0.01 ) (0.01 ) Deferred tax assets and liabilities consist of the following: As of December 31, 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 3,871,391 $ 3,548,494 Tax credits carryforwards 1,322,457 1,254,678 Stock-based compensation 800,998 630,113 Intangible asset basis differences 4,417,201 3,824,482 Accrued liabilities & allowances 76,403 96,478 Capitalized research and development 2,777,414 1,787,350 Gross deferred tax assets 13,265,864 11,141,595 Valuation allowance (13,265,864 ) (11,141,595 ) Net deferred tax assets $ — $ — As of December 31, 2023 2035. 2017 December 31, 2023 2035. As of December 31, 2023 2035 2024. The Tax Reform Act of 1986 not The Company accounts for uncertain tax positions in accordance with ASC 740 10, Accounting for Uncertainty in Income Taxes 740 10 A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2023 2022 Beginning uncertain tax benefits $ 321,175 $ 103,104 Current year - increases 65,389 150,701 Prior year - increases (decreases) (50,742 ) 67,370 Ending uncertain tax benefits $ 335,822 $ 321,175 Included in the balance of uncertain tax benefits at December 31, 2023 not no 12 December 31, 2023 no The Company files U.S. federal, California and Illinois state tax returns. The Company is subject to California state minimum franchise taxes. All tax returns will remain open for examination by the federal and state taxing authorities for three four December 31, 2023 no 2023 On December 22, 2017, 2017 January 1, 2022, five 15 174. |
Note 8 - Loss per Share
Note 8 - Loss per Share | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 8 Loss per Share Basic and diluted net loss per common share was calculated as follows: Years Ended December 31, (in thousands, except for net loss per share) 2023 2022 Numerator: Net loss $ (8,402 ) $ (10,516 ) Denominator: Weighted-average common shares outstanding, basic and diluted 13,824 12,718 Net loss per common share, basic and diluted $ (0.61 ) $ (0.83 ) Anti-dilutive potential common stock equivalents excluded from the calculation of net loss per share Stock options to purchase common stock 2,109 1,642 Unvested restricted stock units 418 272 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 9 Commitments and Contingencies License, Development and Collaboration Agreements XOMA Ltd. Pursuant to a non-exclusive license agreement with XOMA Ltd. for the humanization technology used in the development of MNPR- 101, 101. not no December 31, 2023, not not first first 2 Onxeo S.A In June 2016, September 2017, March 27, 2023, 2b/3 not 15% not January 2024. Operating Leases The Company is currently leasing office space for its executive headquarters at 1000 February 2022, 24 May 2022, 22 939 As of December 31, 2023 842, Leases two not April 1, 2022, June 1, 2022, two No 2021 one The components of lease expense were as follows: Years Ended December 31, 2023 2022 Total lease costs $ 50,856 $ 34,424 Maturities of the lease liability as of December 31, 2023 Operating Fiscal Year Leases December 31, 2024 $ 8,476 Total lease payments 8,476 Less: imputed interest (68 ) Total lease liability as of December 31, 2023 $ 8,408 The remaining lease liability will be paid in 2024. The following table presents the weighted average remaining lease term and the discount rate used in calculating the ROU asset and related lease liability for the periods presented: December 31, 2023 2022 Lease term: Operating leases (in years) 0.2 1.2 Discount rate: Operating lease 6.50 % 6.50 % Supplemental balance sheet information: As of December 31, 2023 2022 ROU asset - non-current $ 12,646 61,228 Total ROU asset $ 12,646 61,228 Operating lease liability - current $ 8,408 48,582 Operating lease liability - non-current — 8,408 Total operating lease liabilities $ 8,408 56,990 Legal Contingencies The Company may No Indemnification In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnification. The Company’s exposure under these agreements is unknown because it involves claims that may not not may In accordance with its second no |
Note 10 - Subsequent Events
Note 10 - Subsequent Events | 12 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 10 From January 1 March 8, 2024, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation These consolidated financial statements include the financial results of Monopar Therapeutics Inc., its wholly-owned French subsidiary, Monopar Therapeutics, SARL, and its wholly-owned Australian subsidiary, Monopar Therapeutics Australia Pty Ltd and have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”) and include all disclosures required by GAAP for financial reporting. All intercompany accounts have been eliminated. The principal accounting policies applied in the preparation of these consolidated financial statements are set out below and have been consistently applied in all periods presented. The Company has been primarily involved in performing research activities, developing product candidates, and raising capital to support and expand these activities. The accompanying consolidated financial statements contain all normal, recurring adjustments necessary to present fairly the Company’s consolidated financial position as of December 31, 2023 2022 December 31, 2023 2022 |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Functional Currency The Company’s consolidated functional currency is the U.S. Dollar. The Company’s Australian subsidiary and French subsidiary use the Australian Dollar and European Euro, respectively, as their functional currency. At each quarter-end, each foreign subsidiary’s balance sheets are translated into U.S. Dollars based upon the quarter-end exchange rate, while their statements of operations and comprehensive loss and statements of cash flows are translated into U.S. Dollars based upon an average exchange rate during the period. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Loss Comprehensive loss represents net loss plus any income or losses not |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates 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 consolidated financial statements and accompanying notes. Actual results could differ from those estimates. |
Going Concern [Policy Text Block] | Going Concern Assessment The Company applies Accounting Standards Codification 205 40 205 40” Disclosure of Uncertainties about an Entity s Ability to Continue as a Going Concern 205 40 one one March 2024, June 30, 2025 no |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents The Company considers all highly liquid investments purchased with a maturity of three December 31, 2023 2022 two |
Investment, Policy [Policy Text Block] | Investments The Company considers all of its investments in debt securities (U.S. Government or Agencies), with maturities at the date of purchase from three one December 31, 2022 three one |
Prepaid Expenses [Policy Text Block] | Prepaid Expenses Prepayments are expenditures for goods or services before the goods are used or the services are received and are charged to operations as the benefits are realized. Prepaid expenses may one |
Lessee, Leases [Policy Text Block] | Leases Lease agreements are evaluated to determine whether an arrangement is or contains a lease in accordance with ASC 842, Leases |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk 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 December 31, 2023 one not not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments For financial instruments consisting of cash and cash equivalents, investments, accounts payable, accrued expenses, and other current liabilities, the carrying amounts are reasonable estimates of fair value due to their relatively short maturities. The Company adopted ASC 820, Fair Value Measurements and Disclosures, The standard establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources. Unobservable inputs reflect a reporting entity’s pricing an asset or liability developed based on the best information available under the circumstances. The fair value hierarchy consists of the following three Level 1 Level 2 Level 3 Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each reporting period. There were no 1, 2 3 December 31, 2023 2022 No 2 3 December 31, 2023 2022 Assets and Liabilities Measured at Fair Value on a Recurring Basis December 31, 2023 Level 1 Total Assets: Cash equivalents (1) $ 6,544,910 $ 6,544,910 Total $ 6,544,910 $ 6,544,910 December 31, 2022 Level 1 Total Assets: Cash equivalents (1) $ 7,248,946 $ 7,248,946 Investments (2) 4,933,550 4,933,550 Total $ 12,182,496 $ 12,182,496 ( 1 December 31, 2023 2022 two three ( 2 three one |
Earnings Per Share, Policy [Policy Text Block] | Net Loss per Share Net loss per share for the years ended December 31, 2023 2022 December 31, 2023 2022 December 31, 2023 2022 December 31, 2023 2022 December 31, 2023 2022 |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Expenses Research and development (“R&D”) costs are expensed as incurred. Major components of R&D expenses include salaries and benefits paid to the Company’s R&D staff, compensation expenses of G&A personnel performing R&D, fees paid to consultants and to the entities that conduct certain R&D activities on the Company’s behalf and materials and supplies which were used in R&D activities during the reporting period. |
Clinical Trial Accrual [Policy Text Block] | Clinical Trials Accruals The Company accrues and expenses the costs for clinical trial activities performed by third |
Collaborative Arrangement, Accounting Policy [Policy Text Block] | Collaborative Agreements The Company and its collaborative partners are active participants in collaborative agreements and all parties would be exposed to significant risks and rewards depending on the technical and commercial success of the activities. Contractual payments to the other parties in collaboration agreements and costs incurred by the Company when the Company is deemed to be the principal participant for a given transaction are recognized on a gross basis in R&D expenses. Royalties and license payments are recorded as earned. During the years ended December 31, 2023 2022 no no not |
Licensing Agreements [Policy Text Block] | Licensing Agreements The Company has various agreements licensing technology utilized in the development of its product or technology programs. The licenses contain success milestone obligations and royalties on future sales. During the years ended December 31, 2023 2022 no no not |
Patent Costs [Policy Text Block] | Patent Costs The Company expenses costs relating to issued patents and patent applications, including costs relating to legal, renewal and application fees, as a component of general and administrative expenses in its consolidated statements of operations and comprehensive loss. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company uses an asset and liability approach for accounting for deferred income taxes, which requires recognition of deferred income tax assets and liabilities for the expected future tax consequences of events that have been recognized in its financial statements but have not The Company regularly assesses the likelihood that its deferred income tax assets will be realized from recoverable income taxes or recovered from future taxable income. To the extent that the Company believes any amounts are not not” not Internal Revenue Code Sections 382 383 382 383” not 382 383 382 383 ASC 740, Income Taxes not.” not not” December 31, 2023 2022 2016 2019 12 not” not” December 31, 2023 2022 not The Company is subject to U.S. Federal, Illinois and California state income taxes. In addition, the Company is subject to local tax laws of France and Australia. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. Monopar was originally formed as an LLC in December 2014, December 16, 2015. 2015 2022. not December 31, 2023 December 31, 2023 |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation The Company accounts for stock-based compensation arrangements with employees, non-employee directors and consultants using a fair value method, which requires the recognition of compensation expense for costs related to all stock-based awards, including stock option and restricted stock unit (“RSU”) grants. The fair value method requires the Company to estimate the fair value of stock-based payment awards on the date of grant using an option pricing model or the closing stock price on the date of grant in the case of RSUs. Stock-based compensation expense for awards granted to employees, non-employee directors and consultants are based on the fair value of the underlying instrument calculated using the Black-Scholes option-pricing model on the date of grant for stock options and using the closing stock price on the date of grant for RSUs and recognized as expense on a straight-line basis over the requisite service period, which is the vesting period. Determining the appropriate fair value model and related assumptions requires judgment, including estimating the future stock price volatility and expected terms. For stock options granted in 2022, two December 18, 2019 December 31, 2021. 2023, three December 18, 2019 December 31, 2022. not not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In October 2023, 2023 06, Disclosure Improvements, Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative. not X two 2023 06, 8 In December 2023, No. 2023 09, Income Taxes (Topic 740 December 15, 2024, not |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | December 31, 2023 Level 1 Total Assets: Cash equivalents (1) $ 6,544,910 $ 6,544,910 Total $ 6,544,910 $ 6,544,910 December 31, 2022 Level 1 Total Assets: Cash equivalents (1) $ 7,248,946 $ 7,248,946 Investments (2) 4,933,550 4,933,550 Total $ 12,182,496 $ 12,182,496 |
Note 3 - Investments (Tables)
Note 3 - Investments (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Investments Classified by Contractual Maturity Date [Table Text Block] | As of December 31, 2023 Cost Basis Unrealized Gains Aggregate Fair Value U.S. Treasury Bills $ 2,971,103 $ 9,237 $ 2,980,340 Money Market Accounts 3,564,570 — 3,564,570 Total $ 6,535,673 $ 9,237 $ 6,544,910 As of December 31, 2022 Cost Basis Unrealized Gains Aggregate Fair Value U.S. Treasury Bills $ 6,905,171 $ 15,039 $ 6,920,210 Money Market Accounts 5,262,286 — 5,262,286 Total $ 12,167,457 $ 15,039 $ 12,182,496 |
Note 5 - Stock Incentive Plan (
Note 5 - Stock Incentive Plan (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Options Outstanding Number of Shares Subject to Options Weighted-Average Exercise Price Balance at January 1, 2022 1,543,989 $ 4.78 Granted 604,064 2.83 Forfeited (337,103 ) 6.13 Exercised (168,000 ) 0.001 Balance at December 31, 2022 1,642,950 4.28 Granted (1) 508,902 3.14 Forfeited (2) (42,851 ) 3.93 Exercised — — Balance at December 31, 2023 2,109,001 4.01 Unvested options outstanding expected to vest (3) 601,746 3.37 |
Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Exercise Prices Number of Shares Subject to Options Outstanding Weighted-Average Remaining Contractual Term in Years Number of Shares Subject to Options Fully Vested and Exercisable Weighted-Average Remaining Contractual Term in Years $0.001 - $5.00 1,371,895 6.95 832,423 5.80 $5.01 - $10.00 617,942 5.50 555,668 5.30 $10.01 - $15.00 113,039 6.09 113,039 6.09 $15.01 - $20.00 6,125 6.09 6,125 6.09 2,109,001 6.48 1,507,255 5.64 |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Restricted Stock Units Weighted-Average Grant Date Fair Value per Unit Unvested balance at December 31, 2021 111,462 $ 8.44 Granted 403,522 2.80 Vested (149,706 ) 4.07 Forfeited (92,628 ) 4.01 Unvested balance at December 31, 2022 272,650 4.00 Granted 368,345 3.16 Vested (222,904 ) 3.73 Forfeited — — Unvested Balance at December 31, 2023 418,091 3.40 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | Years Ended December 31, 2023 2022 Stock options granted 508,902 604,064 Fair value of shares vested $ 980,455 $ 970,451 |
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | As of December 31, 2023 2022 Current: Federal $ - $ - State 800 800 Foreign - - Total current: 800 800 Deferred: Federal - - State - - Foreign - - Total deferred: - - Total provision* $ 800 $ 800 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | As of December 31, 2023 2022 Federal income tax 21.00 21.00 State income taxes, less federal benefit 6.03 6.39 Tax credits 3.12 5.57 Permanent differences (2.81 ) (2.45 ) Change in valuation allowances (25.33 ) (32.58 ) Other (2.02 ) 2.06 Effective tax rate benefit (expense) (0.01 ) (0.01 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As of December 31, 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 3,871,391 $ 3,548,494 Tax credits carryforwards 1,322,457 1,254,678 Stock-based compensation 800,998 630,113 Intangible asset basis differences 4,417,201 3,824,482 Accrued liabilities & allowances 76,403 96,478 Capitalized research and development 2,777,414 1,787,350 Gross deferred tax assets 13,265,864 11,141,595 Valuation allowance (13,265,864 ) (11,141,595 ) Net deferred tax assets $ — $ — |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | 2023 2022 Beginning uncertain tax benefits $ 321,175 $ 103,104 Current year - increases 65,389 150,701 Prior year - increases (decreases) (50,742 ) 67,370 Ending uncertain tax benefits $ 335,822 $ 321,175 |
Note 8 - Loss per Share (Tables
Note 8 - Loss per Share (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended December 31, (in thousands, except for net loss per share) 2023 2022 Numerator: Net loss $ (8,402 ) $ (10,516 ) Denominator: Weighted-average common shares outstanding, basic and diluted 13,824 12,718 Net loss per common share, basic and diluted $ (0.61 ) $ (0.83 ) Anti-dilutive potential common stock equivalents excluded from the calculation of net loss per share Stock options to purchase common stock 2,109 1,642 Unvested restricted stock units 418 272 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Years Ended December 31, 2023 2022 Total lease costs $ 50,856 $ 34,424 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Operating Fiscal Year Leases December 31, 2024 $ 8,476 Total lease payments 8,476 Less: imputed interest (68 ) Total lease liability as of December 31, 2023 $ 8,408 |
Lessee, Operating Lease, Weighted Average Remaining Lease Term and Discount Rate [Table Text Block] | December 31, 2023 2022 Lease term: Operating leases (in years) 0.2 1.2 Discount rate: Operating lease 6.50 % 6.50 % |
Lessee, Operating Lease, Supplemental Balance Sheet Information [Table Text Block] | As of December 31, 2023 2022 ROU asset - non-current $ 12,646 61,228 Total ROU asset $ 12,646 61,228 Operating lease liability - current $ 8,408 48,582 Operating lease liability - non-current — 8,408 Total operating lease liabilities $ 8,408 56,990 |
Note 1 - Nature of Business a_2
Note 1 - Nature of Business and Liquidity (Details Textual) - USD ($) | 109 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Percentage of Absolute Difference in Severe Oral Mucositis Prevention | 15% | |
Retained Earnings (Accumulated Deficit) | $ (60,206,217) | $ (51,804,021) |
Revenues | $ 0 |
Note 2 - Significant Accounti_3
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Insurance Premiums Dues Subscription and Software Cost Paid In Advance | $ 10,000 | |
Cash, FDIC Insured Amount | $ 250,000 | |
Weighted Average Number of Shares Outstanding, Basic (in shares) | 13,823,951 | 12,718,166 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2,527,092 | 1,915,600 |
Note 2 - Significant Accounti_4
Note 2 - Significant Accounting Policies - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 | |||
Cash equivalents(1) | $ 6,544,910 | [1] | $ 7,248,946 | [2] | |
Total | 6,544,910 | 12,182,496 | |||
Investments(2) | [3] | 4,933,550 | |||
Fair Value, Inputs, Level 1 [Member] | |||||
Cash equivalents(1) | 6,544,910 | [1] | 7,248,946 | [2] | |
Total | $ 6,544,910 | 12,182,496 | |||
Investments(2) | [3] | $ 4,933,550 | |||
[1]Cash equivalents as of December 31, 2023 and 2022 represent the fair value of the Company's investment in two money market accounts and U.S. Treasury Bills with maturities at the date of purchase of three months or less.[2]Cash equivalents as of December 31, 2023 and 2022 represent the fair value of the Company’s investment in two money market accounts and U.S. Treasury Bills with maturities at the date of purchase of three months or less.[3]Investments represents the fair value of the Company's investment in U.S. Treasury Bills with maturities at the date of purchase from three months to one year. |
Note 3 - Investments (Details T
Note 3 - Investments (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Debt Securities, Available-for-Sale, Unrealized Gain (Loss) | $ 0 | $ 0 |
Investments | $ 0 | 4,933,550 |
US Treasury Bill Securities [Member] | ||
Investments | $ 4,900,000 |
Note 3 - Investments - Schedule
Note 3 - Investments - Schedule of Investments (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Investments, cost basis | $ 6,535,673 | $ 12,167,457 |
Investments, unrealized gains | 9,237 | 15,039 |
Investments, aggregate fair value | 6,544,910 | 12,182,496 |
US Treasury Bill Securities [Member] | ||
Investments, cost basis | 2,971,103 | 6,905,171 |
Investments, unrealized gains | 9,237 | 15,039 |
Investments, aggregate fair value | 2,980,340 | 6,920,210 |
Money Market Funds [Member] | ||
Investments, cost basis | 3,564,570 | 5,262,286 |
Investments, unrealized gains | 0 | 0 |
Investments, aggregate fair value | $ 3,564,570 | $ 5,262,286 |
Note 4 - Capital Stock (Details
Note 4 - Capital Stock (Details Textual) - USD ($) | 12 Months Ended | |||
Jan. 04, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Apr. 20, 2022 | |
Common Stock, Shares Authorized (in shares) | 40,000,000 | 40,000,000 | ||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | ||
Proceeds from Issuance of Common Stock | $ 2,074,196 | $ 109,337 | ||
Common Stock, Shares, Issued (in shares) | 14,904,497 | 12,946,573 | ||
Common Stock, Shares, Outstanding (in shares) | 14,904,497 | 12,946,573 | ||
Capital on Demand Sales Agreement [Member] | JonesTrading Institutional Services LLC [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 4,870,000 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 6,505,642 | |||
Stock Issued During Period, Shares, New Issues (in shares) | 1,793,441 | 64,573 | ||
Shares Issued, Price Per Share (in dollars per share) | $ 1.21 | $ 2.71 | ||
Proceeds from Issuance of Common Stock | $ 2,116,435 | $ 170,552 | ||
Payments of Stock Issuance Costs | 54,298 | 4,377 | ||
Legal Fees | 43,932 | 83,234 | ||
Proceeds from Issuance of Common Stock, Net | $ 2,072,503 | $ 87,318 |
Note 5 - Stock Incentive Plan_2
Note 5 - Stock Incentive Plan (Details Textual) - USD ($) | 12 Months Ended | ||||||
Mar. 31, 2022 | Apr. 30, 2020 | Dec. 31, 2023 | Dec. 31, 2022 | Oct. 31, 2017 | Apr. 30, 2016 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 508,902 | 604,064 | [1] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 131,413 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 4.01 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Outstanding, Weighted Average Exercise Price (in dollars per share) | 4.27 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 3.37 | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 2.8 | ||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 6 months | ||||||
General and Administrative Expense [Member] | |||||||
Share-Based Payment Arrangement, Expense | $ 1,014,046 | $ 818,164 | |||||
Research and Development Expense [Member] | |||||||
Share-Based Payment Arrangement, Expense | $ 883,803 | $ 823,099 | |||||
Restricted Stock Units (RSUs) [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 368,345 | 403,522 | |||||
Options Held [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 508,902 | ||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 5,100,000 | 3,100,000 | 1,600,000 | 700,000 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 2,000,000 | 1,500,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | ||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | ||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 368,345 | ||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Minimum [Member] | Share-Based Payment Arrangement, Option [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 1 year | ||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Maximum [Member] | Share-Based Payment Arrangement, Option [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | ||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Vesting Monthly Over One Year [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 10,000 | ||||||
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share) | $ 2.37 | ||||||
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share) | $ 3.16 | ||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Vesting 6/48ths on Six-months and 1/48th After [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 443,182 | ||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Vesting Quarterly Over One Year [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 55,720 | ||||||
[1]604,064 options vest as follows: options to purchase 533,552 shares of the Company’s common stock vest 6/48ths on the six-month anniversary of vesting commencement date and 1/48th per month thereafter; options to purchase 60,512 shares of the Company’s common stock vest quarterly over one year; and options to purchase 10,000 shares of the Company’s common stock vest monthly over one year. Exercise prices range from $1.59 to $3.95 per share. |
Note 5 - Stock Incentive Plan -
Note 5 - Stock Incentive Plan - Option Activity (Details) - $ / shares | 12 Months Ended | ||||
Dec. 31, 2023 | Dec. 31, 2022 | Jan. 01, 2022 | |||
Balances (in shares) | 2,109,001 | 1,642,950 | 1,543,989 | ||
Balances, exercise price (in dollars per share) | $ 4.01 | $ 4.28 | $ 4.78 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 508,902 | 604,064 | [1] | ||
Granted, exercise price (in dollars per share) | $ 3.14 | $ 2.83 | [1] | ||
Forfeited (in shares) | (42,851) | (337,103) | [2] | ||
Forfeited, exercise price (in dollars per share) | $ 3.93 | $ 6.13 | [2] | ||
Exercised, options (in shares) | 0 | (168,000) | |||
Exercised, exercise price (in dollars per share) | $ 0 | $ 0.001 | |||
Unvested options outstanding expected to vest(3) (in shares) | [3] | 601,746 | |||
Unvested options outstanding expected to vest(3), exercise price (in dollars per share) | [3] | $ 3.37 | |||
[1]604,064 options vest as follows: options to purchase 533,552 shares of the Company’s common stock vest 6/48ths on the six-month anniversary of vesting commencement date and 1/48th per month thereafter; options to purchase 60,512 shares of the Company’s common stock vest quarterly over one year; and options to purchase 10,000 shares of the Company’s common stock vest monthly over one year. Exercise prices range from $1.59 to $3.95 per share.[2]Forfeited options represent unvested shares and vested, unexercised shares related to employee terminations.[3]Forfeitures only include known forfeitures to-date as the Company accounts for forfeitures as they occur due to a limited history of forfeitures. |
Note 5 - Stock Incentive Plan_3
Note 5 - Stock Incentive Plan - Options Outstanding (Details) | 12 Months Ended |
Dec. 31, 2023 $ / shares shares | |
Number of shares subject to options outstanding (in shares) | 2,109,001 |
Weighted-average remaining contractual term (Year) | 6 years 5 months 23 days |
Number of shares, exercisable (in shares) | 1,507,255 |
Weighted-average remaining contractual term, exercisable (Year) | 5 years 7 months 20 days |
Price Range 1 [Member] | |
Lower exercise price (in dollars per share) | $ / shares | $ 0.001 |
Upper exercise price (in dollars per share) | $ / shares | $ 5 |
Number of shares subject to options outstanding (in shares) | 1,371,895 |
Weighted-average remaining contractual term (Year) | 6 years 11 months 12 days |
Number of shares, exercisable (in shares) | 832,423 |
Weighted-average remaining contractual term, exercisable (Year) | 5 years 9 months 18 days |
Price Range 2 [Member] | |
Lower exercise price (in dollars per share) | $ / shares | $ 5.01 |
Upper exercise price (in dollars per share) | $ / shares | $ 10 |
Number of shares subject to options outstanding (in shares) | 617,942 |
Weighted-average remaining contractual term (Year) | 5 years 6 months |
Number of shares, exercisable (in shares) | 555,668 |
Weighted-average remaining contractual term, exercisable (Year) | 5 years 3 months 18 days |
Price Range 3 [Member] | |
Lower exercise price (in dollars per share) | $ / shares | $ 10.01 |
Upper exercise price (in dollars per share) | $ / shares | $ 15 |
Number of shares subject to options outstanding (in shares) | 113,039 |
Weighted-average remaining contractual term (Year) | 6 years 1 month 2 days |
Number of shares, exercisable (in shares) | 113,039 |
Weighted-average remaining contractual term, exercisable (Year) | 6 years 1 month 2 days |
Price Range 4 [Member] | |
Lower exercise price (in dollars per share) | $ / shares | $ 15.01 |
Upper exercise price (in dollars per share) | $ / shares | $ 20 |
Number of shares subject to options outstanding (in shares) | 6,125 |
Weighted-average remaining contractual term (Year) | 6 years 1 month 2 days |
Number of shares, exercisable (in shares) | 6,125 |
Weighted-average remaining contractual term, exercisable (Year) | 6 years 1 month 2 days |
Note 5 - Stock Incentive Plan_4
Note 5 - Stock Incentive Plan - Restricted Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Unvested balance (in shares) | 272,650 | 111,462 |
Unvested balance, grant date fair value (in dollars per share) | $ 4 | $ 8.44 |
Granted, RSUs (in shares) | 368,345 | 403,522 |
Granted, grant date fair value (in dollars per share) | $ 3.16 | $ 2.8 |
Vested, RSUs (in shares) | (222,904) | (149,706) |
Vested, grant date fair value (in dollars per share) | $ 3.73 | $ 4.07 |
Forfeited, RSUs (in shares) | 0 | (92,628) |
Forfeited, grant date fair value (in dollars per share) | $ 0 | $ 4.01 |
Unvested balance (in shares) | 418,091 | 272,650 |
Unvested balance, grant date fair value (in dollars per share) | $ 3.4 | $ 4 |
Note 5 - Stock Incentive Plan_5
Note 5 - Stock Incentive Plan - Schedule of Option Grants and Fair Value (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Stock options granted (in shares) | 508,902 | 604,064 |
Fair value of shares vested | $ 980,455 | $ 970,451 |
Note 6 - Related Party Transa_2
Note 6 - Related Party Transactions (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Tactic Pharma, LLC [Member] | |
Related Party Transaction, Amounts of Transaction | $ 0 |
Tactic Pharma, LLC [Member] | Monopar Therapeutics [Member] | |
Equity Method Investment, Ownership Percentage | 29% |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 2,124,000 | $ 3,421,000 | |
Income Tax Expense (Benefit) | [1] | 800 | 800 |
Liability for Uncertainty in Income Taxes, Current | 335,822 | ||
Internal Revenue Service (IRS) [Member] | |||
Operating Loss Carryforwards | 13,548,000 | ||
Deferred Tax Assets, Tax Credit Carryforwards, Research | 1,554,000 | ||
Federal and State R and D [Member] | |||
Operating Loss Carryforwards | 13,578,000 | ||
Deferred Tax Assets, Tax Credit Carryforwards, Research | 125,000 | ||
General and Administrative Expenses [Member] | |||
Income Tax Expense (Benefit) | $ 800 | $ 800 | |
[1]Total provision for income taxes of $800 for each of the years ended December 31, 2022 and 2021, is recorded in general and administrative expenses on the Company’s consolidated statements of operations and comprehensive loss as it is not considered a material amount. |
Note 7 - Income Taxes - Provisi
Note 7 - Income Taxes - Provision for Income Taxes (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | ||
Federal | $ 0 | $ 0 | |
State | 800 | 800 | |
Foreign | 0 | 0 | |
Total current: | 800 | 800 | |
Federal | 0 | 0 | |
State | 0 | 0 | |
Foreign | 0 | 0 | |
Total deferred: | 0 | 0 | |
Income Tax Expense (Benefit) | [1] | $ 800 | $ 800 |
[1]Total provision for income taxes of $800 for each of the years ended December 31, 2022 and 2021, is recorded in general and administrative expenses on the Company’s consolidated statements of operations and comprehensive loss as it is not considered a material amount. |
Note 7 - Income Taxes - Reconci
Note 7 - Income Taxes - Reconciliation of Effective Tax Rate (Details) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Federal income tax | 21% | 21% |
State income taxes, less federal benefit | 6.03% | 6.39% |
Tax credits | 3.12% | 5.57% |
Permanent differences | (2.81%) | (2.45%) |
Change in valuation allowances | (25.33%) | (32.58%) |
Other | (2.02%) | 2.06% |
Effective tax rate benefit (expense) | (0.01%) | (0.01%) |
Note 7 - Income Taxes - Deferre
Note 7 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Net operating loss carryforwards | $ 3,871,391 | $ 3,548,494 |
Tax credits carryforwards | 1,322,457 | 1,254,678 |
Stock-based compensation | 800,998 | 630,113 |
Intangible asset basis differences | 4,417,201 | 3,824,482 |
Accrued liabilities & allowances | 76,403 | 96,478 |
Capitalized research and development | 2,777,414 | 1,787,350 |
Gross deferred tax assets | 13,265,864 | 11,141,595 |
Valuation allowance | 13,265,864 | 11,141,595 |
Net deferred tax assets | $ 0 | $ 0 |
Note 7 - Income Taxes - Recon_2
Note 7 - Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Beginning uncertain tax benefits | $ 321,175 | $ 103,104 |
Current year - increases | 65,389 | 150,701 |
Prior year - increases (decreases) | (50,742) | (67,370) |
Prior year - increases (decreases) | 50,742 | 67,370 |
Ending uncertain tax benefits | $ 335,822 | $ 321,175 |
Note 8 - Loss per Share - Basic
Note 8 - Loss per Share - Basic and Dilute Loss per Share (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Net loss | $ (8,402,196) | $ (10,515,638) |
Weighted Average Number of Shares Outstanding, Basic (in shares) | 13,823,951 | 12,718,166 |
Net loss per common share, basic and diluted (in dollars per share) | $ (0.61) | $ (0.83) |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2,527,092 | 1,915,600 |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2,109,000 | 1,642,000 |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 418,000 | 272,000 |
Note 9 - Commitments and Cont_3
Note 9 - Commitments and Contingencies (Details Textual) | 1 Months Ended | ||||
Jan. 31, 2023 USD ($) ft² | May 31, 2022 USD ($) | Feb. 28, 2022 USD ($) | Dec. 31, 2023 USD ($) | Sep. 08, 2017 USD ($) | |
Operating Leases, Rent Expense, Net | $ 4,238 | ||||
One Thousand Two Zero Two Square Feet [Member] | |||||
Operating Leases, Rent Expense, Net | $ 2,379 | ||||
Area of Real Estate Property (Square Foot) | ft² | 1,202 | ||||
Additional Office Space [Member] | |||||
Operating Leases, Rent Expense, Net | $ 1,859 | ||||
XOMA Ltd. [Member] | Maximum [Member] | |||||
Indefinite-Lived License Agreements | $ 14,925,000 | ||||
Onxeo [Member] | |||||
License Agreement Fee | $ 1,000,000 |
Note 9 - Commitments and Cont_4
Note 9 - Commitments and Contingencies - Components of Lease Expense (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Total lease costs | $ 50,856 | $ 34,424 |
Note 9 - Commitments and Cont_5
Note 9 - Commitments and Contingencies - Schedule of Maturity of Lease Liability (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
December 31, 2024 | $ 8,476 | |
Total lease payments | 8,476 | |
Less: imputed interest | (68) | |
Total lease liability as of December 31, 2023 | $ 8,408 | $ 56,990 |
Note 9 - Commitments and Cont_6
Note 9 - Commitments and Contingencies - Schedule of Weighted Average of Remaining Lease Term (Details) | Dec. 31, 2023 | Dec. 31, 2022 |
Operating leases (in years) (Year) | 2 months 12 days | 1 year 2 months 12 days |
Operating lease | 6.50% | 6.50% |
Note 9 - Commitments and Cont_7
Note 9 - Commitments and Contingencies - Supplemental Balance Sheet Information (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
ROU asset - non-current | $ 12,646 | $ 61,228 |
Total ROU asset | 12,646 | 61,228 |
Operating lease liability - non-current | 0 | 8,408 |
Total operating lease liabilities | 8,408 | 56,990 |
Accounts Payable and Accrued Liabilities [Member] | ||
Operating lease liability - current | $ 8,408 | $ 48,582 |
Note 10 - Subsequent Events (De
Note 10 - Subsequent Events (Details Textual) - USD ($) | 2 Months Ended | 12 Months Ended | |
Mar. 08, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | |
Proceeds from Issuance of Common Stock | $ 2,074,196 | $ 109,337 | |
At-The-Market Agreement With JonesTrading [Member] | Subsequent Event [Member] | |||
Stock Issued During Period, Shares, New Issues (in shares) | 2,545,305 | ||
Shares Issued, Price Per Share (in dollars per share) | $ 1.29 | ||
Proceeds from Issuance of Common Stock | $ 3,194,310 | ||
Payments of Stock Issuance Costs | $ 81,932 |