Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2024 | Jul. 31, 2024 | |
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 | Q2 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2024 | |
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, $0.001 par value | |
Trading Symbol | MNPR | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 17,601,827 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 6,119,931 | $ 7,266,080 |
Investments | 998,840 | 0 |
Other current assets | 61,017 | 66,433 |
Total current assets | 7,179,788 | 7,332,513 |
Operating lease right-of-use asset | 0 | 12,646 |
Total assets | 7,179,788 | 7,345,159 |
Current liabilities: | ||
Accounts payable, accrued expenses and other current liabilities | 1,089,462 | 1,757,393 |
Total current liabilities and total liabilities | 1,089,462 | 1,757,393 |
Commitments and contingencies (Note 8) | ||
Common stock, par value of $0.001 per share, 40,000,000 shares authorized, 17,601,827 and 14,904,497 shares issued and outstanding as of June 30, 2024, and December 31, 2023, respectively | 17,602 | 14,905 |
Additional paid-in capital | 69,627,218 | 65,793,210 |
Accumulated other comprehensive income (loss) | 8,258 | (14,132) |
Accumulated deficit | (63,562,752) | (60,206,217) |
Total stockholders’ equity | 6,090,326 | 5,587,766 |
Total liabilities and stockholders’ equity | $ 7,179,788 | $ 7,345,159 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2024 | Dec. 31, 2023 |
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) | 17,601,827 | 14,904,497 |
Common stock, outstanding (in shares) | 17,601,827 | 14,904,497 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Operating expenses: | ||||
Research and development | $ 1,130,978 | $ 1,594,713 | $ 2,097,088 | $ 3,248,082 |
General and administrative | 657,806 | 733,496 | 1,415,087 | 1,605,171 |
Total operating expenses | 1,788,784 | 2,328,209 | 3,512,175 | 4,853,253 |
Loss from operations | (1,788,784) | (2,328,209) | (3,512,175) | (4,853,253) |
Interest income | 73,475 | 128,218 | 155,640 | 218,706 |
Net loss | (1,715,309) | (2,199,991) | (3,356,535) | (4,634,547) |
Other comprehensive income (loss): | ||||
Foreign currency translation gain (loss) | 1,583 | (4,385) | 748 | (15,184) |
Unrealized gain (loss) on investments | 2,444 | (20,180) | 21,642 | 13,464 |
Comprehensive loss | $ (1,711,282) | $ (2,224,556) | $ (3,334,145) | $ (4,636,267) |
Net loss per share: | ||||
Basic and diluted (in dollars per share) | $ (0.1) | $ (0.16) | $ (0.2) | $ (0.35) |
Weighted average shares outstanding: | ||||
Basic and diluted (in shares) | 17,514,637 | 13,420,029 | 16,747,198 | 13,263,770 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 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, 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 offering costs of $81,932 (in shares) | 244,392 | ||||||||||||||
Issuance of common stock under a Capital on DemandTM Sales Agreement with JonesTrading Institutional Services, LLC, net of commissions, fees and offering costs of $81,932 | $ 244 | 807,094 | 0 | 0 | 807,338 | ||||||||||
Issuance of common stock to employees pursuant to vested restricted stock units, net of taxes (in shares) | 10,132 | 20,959 | |||||||||||||
Issuance of common stock to employees pursuant to vested restricted stock units, net of taxes | $ 10 | $ (10) | $ 0 | $ 0 | $ 0 | $ 21 | $ (16,848) | $ 0 | $ 0 | $ (16,827) | |||||
Stock-based compensation (non-cash) | 0 | 476,209 | 0 | 0 | 476,209 | ||||||||||
Net loss | 0 | 0 | 0 | (2,434,556) | (2,434,556) | ||||||||||
Other comprehensive income, net | $ 0 | 0 | 22,845 | 0 | 22,845 | ||||||||||
Balance (in shares) at Mar. 31, 2023 | 13,222,056 | ||||||||||||||
Balance at Mar. 31, 2023 | $ 13,222 | 63,138,229 | 31,787 | (54,238,577) | 8,944,661 | ||||||||||
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 | ||||||||||
Net loss | (4,634,547) | ||||||||||||||
Balance (in shares) at Jun. 30, 2023 | 13,898,081 | ||||||||||||||
Balance at Jun. 30, 2023 | $ 13,898 | 64,254,231 | 7,222 | (56,438,568) | 7,836,783 | ||||||||||
Balance (in shares) at Mar. 31, 2023 | 13,222,056 | ||||||||||||||
Balance at Mar. 31, 2023 | $ 13,222 | 63,138,229 | 31,787 | (54,238,577) | 8,944,661 | ||||||||||
Issuance of common stock under a Capital on DemandTM Sales Agreement with JonesTrading Institutional Services, LLC, net of commissions, fees and offering costs of $81,932 (in shares) | 621,227 | ||||||||||||||
Issuance of common stock under a Capital on DemandTM Sales Agreement with JonesTrading Institutional Services, LLC, net of commissions, fees and offering costs of $81,932 | $ 621 | 659,374 | 0 | 0 | 659,995 | ||||||||||
Issuance of common stock to employees pursuant to vested restricted stock units, net of taxes (in shares) | 10,136 | 44,662 | |||||||||||||
Issuance of common stock to employees pursuant to vested restricted stock units, net of taxes | $ 10 | $ (10) | $ 0 | $ 45 | (16,658) | 0 | 0 | (16,613) | |||||||
Stock-based compensation (non-cash) | 0 | 473,296 | 0 | 0 | 473,296 | ||||||||||
Net loss | 0 | 0 | 0 | (2,199,991) | (2,199,991) | ||||||||||
Other comprehensive income, net | $ 0 | 0 | (24,565) | 0 | (24,565) | ||||||||||
Balance (in shares) at Jun. 30, 2023 | 13,898,081 | ||||||||||||||
Balance at Jun. 30, 2023 | $ 13,898 | 64,254,231 | 7,222 | (56,438,568) | 7,836,783 | ||||||||||
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 | ||||||||||
Issuance of common stock under a Capital on DemandTM Sales Agreement with JonesTrading Institutional Services, LLC, net of commissions, fees and offering costs of $81,932 (in shares) | 2,545,305 | ||||||||||||||
Issuance of common stock under a Capital on DemandTM Sales Agreement with JonesTrading Institutional Services, LLC, net of commissions, fees and offering costs of $81,932 | $ 2,545 | 3,191,765 | 0 | 0 | 3,194,310 | ||||||||||
Issuance of common stock to employees pursuant to vested restricted stock units, net of taxes (in shares) | 34,373 | ||||||||||||||
Issuance of common stock to employees pursuant to vested restricted stock units, net of taxes | $ 34 | (10,772) | 0 | 0 | (10,738) | ||||||||||
Stock-based compensation (non-cash) | 0 | 328,661 | 0 | 0 | 328,661 | ||||||||||
Net loss | 0 | 0 | 0 | (1,641,226) | (1,641,226) | ||||||||||
Other comprehensive income, net | $ 0 | 0 | 18,363 | 0 | 18,363 | ||||||||||
Balance (in shares) at Mar. 31, 2024 | 17,484,175 | ||||||||||||||
Balance at Mar. 31, 2024 | $ 17,484 | 69,302,864 | 4,231 | (61,847,443) | 7,477,136 | ||||||||||
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 | ||||||||||
Net loss | (3,356,535) | ||||||||||||||
Balance (in shares) at Jun. 30, 2024 | 17,601,827 | ||||||||||||||
Balance at Jun. 30, 2024 | $ 17,602 | 69,627,218 | 8,258 | (63,562,752) | 6,090,326 | ||||||||||
Balance (in shares) at Mar. 31, 2024 | 17,484,175 | ||||||||||||||
Balance at Mar. 31, 2024 | $ 17,484 | 69,302,864 | 4,231 | (61,847,443) | 7,477,136 | ||||||||||
Issuance of common stock under a Capital on DemandTM Sales Agreement with JonesTrading Institutional Services, LLC, net of commissions, fees and offering costs of $81,932 (in shares) | 33,652 | ||||||||||||||
Issuance of common stock to employees pursuant to vested restricted stock units, net of taxes | $ 34 | $ (10,036) | $ 0 | $ 0 | $ (10,002) | ||||||||||
Stock-based compensation (non-cash) | 0 | 334,390 | 0 | 0 | 334,390 | ||||||||||
Net loss | 0 | 0 | 0 | (1,715,309) | (1,715,309) | ||||||||||
Other comprehensive income, net | $ 0 | 0 | 4,027 | 0 | 4,027 | ||||||||||
Exercise of stock options (in shares) | 84,000 | ||||||||||||||
Exercise of stock options | $ 84 | 0 | 0 | 0 | 84 | ||||||||||
Balance (in shares) at Jun. 30, 2024 | 17,601,827 | ||||||||||||||
Balance at Jun. 30, 2024 | $ 17,602 | $ 69,627,218 | $ 8,258 | $ (63,562,752) | $ 6,090,326 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) | 3 Months Ended | ||
Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | |
Stock Issuance Cost | $ 81,932 | $ 26,522 | $ 37,661 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Cash flows from operating activities: | ||
Net loss | $ (3,356,535) | $ (4,634,547) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation expense | 663,051 | 949,505 |
Changes in operating assets and liabilities, net | ||
Other current assets | 14,014 | (63,891) |
Accounts payable, accrued expenses and other current liabilities | (656,989) | (623,648) |
Operating lease right-of-use assets and liabilities, net | 4,238 | 0 |
Net cash used in operating activities | (3,332,221) | (4,372,581) |
Cash flows from investing activities: | ||
Purchase of short-term investments | (985,730) | (4,921,873) |
Maturities of short-term investments | 0 | 6,892,238 |
Net cash (used in) provided by investing activities | (985,730) | 1,970,365 |
Cash flows from financing activities: | ||
Cash proceeds from the sales of common stock under a Capital on DemandTM Sales Agreement | 3,192,618 | 1,479,416 |
Taxes paid related to net share settlement of vested restricted stock units | (20,740) | (33,440) |
Cash proceeds from the issuance of stock upon exercise of stock options | 84 | 0 |
Net cash provided by financing activities | 3,171,962 | 1,445,976 |
Effect of exchange rates | (160) | (15,197) |
Net decrease in cash and cash equivalents | (1,146,149) | (971,437) |
Cash and cash equivalents at beginning of period | 7,266,080 | 8,186,194 |
Cash and cash equivalents at end of period | $ 6,119,931 | $ 7,214,757 |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Liquidity | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1 Nature of Business and Liquidity Nature of Business Monopar Therapeutics Inc. (“Monopar” or the “Company”) is a clinical-stage radiopharmaceutical company focused on developing innovative treatments for cancer patients. Monopar is prioritizing its focus and resources toward its Phase 1 101 101 1b 202 Liquidity The Company has incurred an accumulated deficit of approximately $63.6 June 30, 2024 August 31, 2025. no 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 June 2024, August 2025 no Risks and Uncertainties On August 28, 2023, 180 February 27, 2024, second 180 no not may may 1 5:00 August 12, 2024, August 13, 2024. no 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 | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2 Significant Accounting Policies Basis of Presentation These condensed 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 condensed 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 interim unaudited condensed consolidated financial statements contain all normal, recurring adjustments necessary to present fairly the Company’s condensed consolidated financial position as of June 30, 2024 three six June 30, 2024 2023 six June 30, 2024 2023 The interim condensed consolidated results of operations and comprehensive loss and condensed consolidated cash flows for the periods presented are not may 2024 December 31, 2023, 10 March 28, 2024. 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 condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Cash Equivalents The Company considers all highly liquid investments purchased with a maturity of three June 30, 2024 December 31, 2023 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 over three one June 30, 2024 less than three 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 June 30, 2024 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 three six June 30, 2024 2023 No 2 3 June 30, 2024 December 31, 2023 Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2024 Level 1 Total Assets: Cash equivalents (1) $ 5,878,877 $ 5,878,877 Investments (2) 998,840 998,840 Total $ 6,877,717 $ 6,877,717 December 31 2023 Level 1 Total Assets: Cash equivalents (1) $ 6,544,910 Total $ 6,544,910 $ — ( 1 Cash equivalents as of June 30, 2024 December 31, 2023 two three ( 2 Investments represents the fair value of the Company’s investment in U.S. Treasury Bills with maturities at the date of purchase over three one Net Loss per Share Net loss per share for the three six June 30, 2024 2023 three six June 30, 2024 2023 17,514,637 three June 30, 2024 2023 six June 30,2024 2023 June 30, 2024 2023 p to 2,452,747 a of the Co three six June 30, 2024 2023 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 costs of 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 three six June 30, 2024 2023 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 three six June 30, 2024 2023 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 condensed 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” June 30, 2024 December 31, 2023 2016 2019 12 not” not” three six June 30, 2024 2023 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 June 30, 2024 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 2023, three December 18, 2019 December 31, 2022. three June 30, 2024 four December 18, 2019, December 31, 2023. 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, 7 In November 2023, No. 2023 07, Segment Reporting (Topic 280 December 15, 2023 , December 15, 2024 , 2023 07 In December 2023, No. 2023 09, Income Taxes (Topic 740 December 15, 2024, not |
Note 3 - Investments
Note 3 - Investments | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Investment [Text Block] | Note 3 As of June 30, 2024 two three three one As of June 30, 2024 Cost Basis Unrealized Gains Aggregate Fair Value U.S. Treasury Bills $ 3,657,927 $ 30,879 $ 3,688,806 Money Market Accounts 3,188,911 — 3,188,911 Total $ 6,846,838 $ 30,879 $ 6,877,717 As of June 30, 2024 June 30, 2024 As of December 31, 2023 two three 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 December 31, 2023 See Note 2 |
Note 4 - Capital Stock
Note 4 - Capital Stock | 6 Months Ended |
Jun. 30, 2024 | |
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, h $5,446,975 has been sold to date and $1,058,667 is remaining. 3 January 4, 2023, During the six June 30, 2024 During the six June 30, 2023 As of June 30, 2024 17,601,827 sha |
Note 5 - Stock Incentive Plan
Note 5 - Stock Incentive Plan | 6 Months Ended |
Jun. 30, 2024 | |
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. August 5, 2024, 2016 2016 During the six June 30, 2024 six June 30, 2024, 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 Balances at December 31, 2023 2,109,001 $ 4.01 Granted (1) 78,592 0.60 Forfeited (2) — — Exercised (84,000 ) 0.001 Balances at June 30, 2024 2,103,593 4.05 Unvested options outstanding expected to vest (3) 539,306 2.96 ( 1 78,592 options vest as follows: options to purchase 10,000 shares of the Company’s common stock vest monthly over one 6/48ths six 1/48th ( 2 There were no forfeitures during the six June 30, 2024. ( 3 Forfeitures only include known forfeitures to-date as the Company accounts for forfeitures as they occur due to a limited history of forfeitures. A summary of options outstanding as of June 30, 2024 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 1,366,487 6.94 864,151 6.05 $5.01 - $10.00 617,942 5.00 580,972 4.89 $10.01 - $15.00 113,039 5.59 113,039 5.59 $15.01 - $20.00 6,125 5.59 6,125 5.59 2,103,593 6.29 1,564,287 5.58 Restricted stock unit activity under the Plan was as follows: Weighted- Average Restricted Grant Date Stock Units Fair Value (#) per Unit ($) Unvested balance at December 31, 2023 418,091 3.40 Granted (1) 29,973 0.65 Vested (98,910 ) 4.10 Unvested Balance at June 30, 2024 349,154 2.97 ( 1 six June 30, 2024. 6/48ths six 3/48ths Stock option grants and fair values under the Plan were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options granted 68,592 — 78,592 508,902 Weighted-average grant date fair value per share $ 0.51 $ — $ 0.48 $ 2.38 Fair value of shares vested $ 181,084 $ 305,087 $ 359,734 $ 528,360 As of June 30, 2024 , the aggregate intrinsic value of outstanding vested and unvested stock options was approximately $223,545 and $7,746 respectively. The weighted-average exercise price in aggregate was $4.05 which includes $4.42 for fully vested stock options and $2.96 for stock options expected to vest. As of June 30, 2024 , unamortized unvested balance of stock-based compensation was $2.2 million, to be amortized over the following 1.9 years. During the three June 30, 2024 and 2023 , the Company recognized $156,822 and $256,297 of employee, non-employee director and consultant stock-based compensation expense as general and administrative expenses, respectively, and $177,568 and $216,999 as research and development expenses, respectively. During the six June 30, 2024 and 2023 , the Company recognized $312,077 and $500,634 of employee, non-employee director and consultant stock-based compensation expense as general and administrative expenses, respectively, and $350,767 and $448,871 as research and development expenses, respectively. The stock-based compensation expense is allocated on a departmental basis, based on the classification of the stock-based award holder. No income tax benefits have been recognized in the condensed consolidated statements of operations and comprehensive loss for stock-based compensation arrangements. |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 6 As of June 30, 2024 24.3 three six June 30, 2024 None June 30, 2024 February 1, 2019, no |
Note 7 - Loss per Share
Note 7 - Loss per Share | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 7 Basic and diluted net loss per common share was calculated as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except for net loss per share) 2024 2023 2024 2023 Numerator: Net loss $ (1,715 ) $ (2,200 ) $ (3,357 ) $ (4,635 ) Denominator: Weighted-average common shares outstanding, basic and diluted 17,515 13,420 16,747 13,264 Net loss per common share, basic and diluted $ (0.10 ) $ (0.16 ) $ (0.20 ) $ (0.35 ) Anti-dilutive potential common stock equivalents excluded from the calculation of net loss per share Stock options to purchase common stock 2,104 2,114 2,104 2,114 Unvested restricted stock units 349 526 349 526 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 8 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 June 30, 2024 not not first first 2 101 1 2 NorthStar Medical Radioisotopes, LLC ("NorthStar") In June 2024, 225 225" 101 101, 101 225, 101 225 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 9 - Subsequent Events
Note 9 - Subsequent Events | 6 Months Ended |
Jun. 30, 2024 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 9 Subsequent Events On August 5, 2024, 1 5 sh 5:00 August 12, 2024, August 13, 2024. The share or per share amounts included in these financial statements or accompanying notes have not Three Months Ended June 30, Six Months Ended June 30, (in thousands, except for net loss per share) 2024 2023 2024 2023 Numerator: Net loss $ (1,715 ) $ (2,200 ) $ (3,357 ) $ (4,635 ) Denominator: Weighted-average common shares outstanding, basic and diluted 3,503 2,685 3,350 2,653 Net loss per common share, basic and diluted $ (0.49 ) $ (0.82 ) $ (1.00 ) $ (1.75 ) Anti-dilutive potential common stock equivalents excluded from the calculation of net loss per share Stock options to purchase common stock 421 423 421 423 Unvested restricted stock units 70 106 70 106 Furthermore, at the Annual Meeting of Stockholders, a proposal to amend the 2016 2016 st to 1,420,000. |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended | 6 Months Ended |
Jun. 30, 2024 | Jun. 30, 2024 | |
Insider Trading Arr Line Items | ||
Material Terms of Trading Arrangement [Text Block] | 5. During the quarter ended June 30, 2024, 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 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation These condensed 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 condensed 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 interim unaudited condensed consolidated financial statements contain all normal, recurring adjustments necessary to present fairly the Company’s condensed consolidated financial position as of June 30, 2024 three six June 30, 2024 2023 six June 30, 2024 2023 The interim condensed consolidated results of operations and comprehensive loss and condensed consolidated cash flows for the periods presented are not may 2024 December 31, 2023, 10 March 28, 2024. |
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 condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents The Company considers all highly liquid investments purchased with a maturity of three June 30, 2024 December 31, 2023 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 over three one June 30, 2024 less than three |
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 June 30, 2024 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 three six June 30, 2024 2023 No 2 3 June 30, 2024 December 31, 2023 Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2024 Level 1 Total Assets: Cash equivalents (1) $ 5,878,877 $ 5,878,877 Investments (2) 998,840 998,840 Total $ 6,877,717 $ 6,877,717 December 31 2023 Level 1 Total Assets: Cash equivalents (1) $ 6,544,910 Total $ 6,544,910 $ — ( 1 Cash equivalents as of June 30, 2024 December 31, 2023 two three ( 2 Investments represents the fair value of the Company’s investment in U.S. Treasury Bills with maturities at the date of purchase over three one |
Earnings Per Share, Policy [Policy Text Block] | Net Loss per Share Net loss per share for the three six June 30, 2024 2023 three six June 30, 2024 2023 17,514,637 three June 30, 2024 2023 six June 30,2024 2023 June 30, 2024 2023 p to 2,452,747 a of the Co three six June 30, 2024 2023 |
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 costs of 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 three six June 30, 2024 2023 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 three six June 30, 2024 2023 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 condensed 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” June 30, 2024 December 31, 2023 2016 2019 12 not” not” three six June 30, 2024 2023 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 June 30, 2024 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 2023, three December 18, 2019 December 31, 2022. three June 30, 2024 four December 18, 2019, December 31, 2023. 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, 7 In November 2023, No. 2023 07, Segment Reporting (Topic 280 December 15, 2023 , December 15, 2024 , 2023 07 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) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | June 30, 2024 Level 1 Total Assets: Cash equivalents (1) $ 5,878,877 $ 5,878,877 Investments (2) 998,840 998,840 Total $ 6,877,717 $ 6,877,717 December 31 2023 Level 1 Total Assets: Cash equivalents (1) $ 6,544,910 Total $ 6,544,910 $ — |
Note 3 - Investments (Tables)
Note 3 - Investments (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Investments Classified by Contractual Maturity Date [Table Text Block] | As of June 30, 2024 Cost Basis Unrealized Gains Aggregate Fair Value U.S. Treasury Bills $ 3,657,927 $ 30,879 $ 3,688,806 Money Market Accounts 3,188,911 — 3,188,911 Total $ 6,846,838 $ 30,879 $ 6,877,717 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 |
Note 5 - Stock Incentive Plan (
Note 5 - Stock Incentive Plan (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Options Outstanding Number of Shares Subject to Options Weighted-Average Exercise Price Balances at December 31, 2023 2,109,001 $ 4.01 Granted (1) 78,592 0.60 Forfeited (2) — — Exercised (84,000 ) 0.001 Balances at June 30, 2024 2,103,593 4.05 Unvested options outstanding expected to vest (3) 539,306 2.96 |
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 1,366,487 6.94 864,151 6.05 $5.01 - $10.00 617,942 5.00 580,972 4.89 $10.01 - $15.00 113,039 5.59 113,039 5.59 $15.01 - $20.00 6,125 5.59 6,125 5.59 2,103,593 6.29 1,564,287 5.58 |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Weighted- Average Restricted Grant Date Stock Units Fair Value (#) per Unit ($) Unvested balance at December 31, 2023 418,091 3.40 Granted (1) 29,973 0.65 Vested (98,910 ) 4.10 Unvested Balance at June 30, 2024 349,154 2.97 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options granted 68,592 — 78,592 508,902 Weighted-average grant date fair value per share $ 0.51 $ — $ 0.48 $ 2.38 Fair value of shares vested $ 181,084 $ 305,087 $ 359,734 $ 528,360 |
Note 7 - Loss per Share (Tables
Note 7 - Loss per Share (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (in thousands, except for net loss per share) 2024 2023 2024 2023 Numerator: Net loss $ (1,715 ) $ (2,200 ) $ (3,357 ) $ (4,635 ) Denominator: Weighted-average common shares outstanding, basic and diluted 17,515 13,420 16,747 13,264 Net loss per common share, basic and diluted $ (0.10 ) $ (0.16 ) $ (0.20 ) $ (0.35 ) Anti-dilutive potential common stock equivalents excluded from the calculation of net loss per share Stock options to purchase common stock 2,104 2,114 2,104 2,114 Unvested restricted stock units 349 526 349 526 |
Note 9 - Subsequent Events (Tab
Note 9 - Subsequent Events (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Notes Tables | |
Schedule of Subsequent Events [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (in thousands, except for net loss per share) 2024 2023 2024 2023 Numerator: Net loss $ (1,715 ) $ (2,200 ) $ (3,357 ) $ (4,635 ) Denominator: Weighted-average common shares outstanding, basic and diluted 3,503 2,685 3,350 2,653 Net loss per common share, basic and diluted $ (0.49 ) $ (0.82 ) $ (1.00 ) $ (1.75 ) Anti-dilutive potential common stock equivalents excluded from the calculation of net loss per share Stock options to purchase common stock 421 423 421 423 Unvested restricted stock units 70 106 70 106 |
Note 1 - Nature of Business a_2
Note 1 - Nature of Business and Liquidity (Details Textual) - USD ($) | Aug. 12, 2024 | Aug. 05, 2024 | Jun. 30, 2024 | Dec. 31, 2023 |
Retained Earnings (Accumulated Deficit) | $ (63,562,752) | $ (60,206,217) | ||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Subsequent Event [Member] | ||||
Stockholders' Equity, Reverse Stock Split | 5 | 5 |
Note 2 - Significant Accounti_3
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Insurance Premiums Dues Subscription and Software Cost Paid In Advance | $ 10,000 | $ 10,000 | ||
Cash, FDIC Insured Amount | $ 250,000 | $ 250,000 | ||
Weighted Average Number of Shares Outstanding, Basic (in shares) | 17,514,637 | 13,420,029 | 16,747,198 | 13,263,770 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2,452,747 | 2,639,566 |
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 ($) | Jun. 30, 2024 | Dec. 31, 2023 | |
Cash equivalents(1) | [1] | $ 5,878,877 | |
Investments(2) | [2] | 998,840 | |
Total | 6,877,717 | 0 | |
Fair Value, Inputs, Level 1 [Member] | |||
Cash equivalents(1) | [1] | 5,878,877 | 6,544,910 |
Investments(2) | [2] | 998,840 | |
Total | $ 6,877,717 | $ 6,544,910 | |
[1]Cash equivalents as of June 30, 2024 and December 31, 2023, 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]Investments represents the fair value of the Company’s investment in U.S. Treasury Bills with maturities at the date of purchase over three months to one year. |
Note 3 - Investments (Details T
Note 3 - Investments (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 | Dec. 31, 2023 | |
Debt Securities, Available-for-Sale, Unrealized Gain (Loss) | $ 0 | $ 0 |
Investments | 998,840 | 0 |
US Treasury Bill Securities [Member] | ||
Investments | $ 999,000 | $ 0 |
Note 3 - Investments - Schedule
Note 3 - Investments - Schedule of Investments (Details) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Investments, cost basis | $ 6,846,838 | $ 6,535,673 |
Investments, unrealized gains | 30,879 | 9,237 |
Investments, aggregate fair value | 6,877,717 | 6,544,910 |
US Treasury Bill Securities [Member] | ||
Investments, cost basis | 3,657,927 | 2,971,103 |
Investments, unrealized gains | 30,879 | 9,237 |
Investments, aggregate fair value | 3,688,806 | 2,980,340 |
Money Market Funds [Member] | ||
Investments, cost basis | 3,188,911 | 3,564,570 |
Investments, unrealized gains | 0 | 0 |
Investments, aggregate fair value | $ 3,188,911 | $ 3,564,570 |
Note 4 - Capital Stock (Details
Note 4 - Capital Stock (Details Textual) - USD ($) | 6 Months Ended | 26 Months Ended | ||||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Dec. 31, 2023 | Jan. 04, 2023 | Apr. 20, 2022 | |
Common Stock, Shares Authorized (in shares) | 40,000,000 | 40,000,000 | 40,000,000 | |||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | |||
Proceeds from Issuance of Common Stock | $ 3,192,618 | $ 1,479,416 | ||||
Common Stock, Shares, Issued (in shares) | 17,601,827 | 17,601,827 | 14,904,497 | |||
Common Stock, Shares, Outstanding (in shares) | 17,601,827 | 17,601,827 | 14,904,497 | |||
Capital on Demand Sales Agreement [Member] | JonesTrading Institutional Services LLC [Member] | ||||||
Equity Offering, Maximum Offering Amount | $ 6,505,642 | $ 4,870,000 | ||||
Proceeds from Issuance of Common Stock, Net | $ 1,467,333 | $ 5,446,975 | ||||
Equity Offering, Remaining Amount Available | $ 1,058,667 | $ 1,058,667 | ||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,545,305 | 865,619 | ||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.29 | $ 1.77 | $ 1.29 | |||
Proceeds from Issuance of Common Stock | $ 3,194,310 | $ 1,493,205 | ||||
Payments of Stock Issuance Costs | $ 81,932 | 38,312 | ||||
Legal Fees | $ 25,872 |
Note 5 - Stock Incentive Plan_2
Note 5 - Stock Incentive Plan (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||||||||
Mar. 31, 2022 | Apr. 30, 2020 | Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Aug. 12, 2024 | Aug. 05, 2024 | Oct. 31, 2017 | Apr. 30, 2016 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | [1] | 78,592 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period (in shares) | [2] | 0 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 223,545 | $ 223,545 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested | $ 7,746 | $ 7,746 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 4.05 | $ 4.05 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Outstanding, Weighted Average Exercise Price (in dollars per share) | 4.42 | 4.42 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 2.96 | $ 2.96 | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 2,200,000 | $ 2,200,000 | |||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 10 months 24 days | ||||||||||
Share-Based Payment Arrangement, Expense, Tax Benefit | $ 0 | ||||||||||
General and Administrative Expense [Member] | |||||||||||
Share-Based Payment Arrangement, Expense | 156,822 | $ 256,297 | 312,077 | $ 500,634 | |||||||
Research and Development Expense [Member] | |||||||||||
Share-Based Payment Arrangement, Expense | $ 177,568 | $ 216,999 | $ 350,767 | $ 448,871 | |||||||
Vesting Monthly Over One Year [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 10,000 | ||||||||||
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) | 68,592 | ||||||||||
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 | 5,100,000 | 5,100,000 | 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 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period (in shares) | 0 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 29,973 | ||||||||||
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 | 10 years | |||||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Officer [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 25,000 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Exercise Price (in dollars per share) | $ 0.6146 | $ 0.6146 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Month) | 4 years | ||||||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Non-officer Employees [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 43,592 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Month) | 4 years | ||||||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Non-officer Employees [Member] | Minimum [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Exercise Price (in dollars per share) | 0.651 | $ 0.651 | |||||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Share-Based Payment Arrangement, Option [Member] | Non-officer Employees [Member] | Maximum [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Exercise Price (in dollars per share) | 0.679 | $ 0.679 | |||||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Options Held [Member] | Share-Based Payment Arrangement, Option [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 10,000 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Exercise Price (in dollars per share) | $ 0.3402 | $ 0.3402 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Month) | 12 months | ||||||||||
Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] | Subsequent Event [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 1,420,000 | 7,100,000 | |||||||||
[1]78,592 options vest as follows: options to purchase 10,000 shares of the Company’s common stock vest monthly over one year; options to purchase 68,592 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.[2]There were no forfeitures during the six months ended June 30, 2024. |
Note 5 - Stock Incentive Plan -
Note 5 - Stock Incentive Plan - Option Activity (Details) - $ / shares | 6 Months Ended | ||
Jun. 30, 2024 | Jan. 01, 2024 | ||
Balances (in shares) | 2,103,593 | 2,109,001 | |
Balances, exercise price (in dollars per share) | $ 4.05 | $ 4.01 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | [1] | 78,592 | |
Granted, exercise price (in dollars per share) | [1] | $ 0.6 | |
Forfeited(2) (in shares) | [2] | 0 | |
Forfeited, exercise price (in dollars per share) | [2] | $ 0 | |
Exercised, options (in shares) | (84,000) | ||
Exercised, exercise price (in dollars per share) | $ 0.001 | ||
Unvested options outstanding expected to vest(3) (in shares) | [3] | 539,306 | |
Unvested options outstanding expected to vest(3), exercise price (in dollars per share) | [3] | $ 2.96 | |
[1]78,592 options vest as follows: options to purchase 10,000 shares of the Company’s common stock vest monthly over one year; options to purchase 68,592 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.[2]There were no forfeitures during the six months ended June 30, 2024.[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) | 6 Months Ended |
Jun. 30, 2024 $ / shares shares | |
Number of shares subject to options outstanding (in shares) | 2,103,593 |
Weighted-average remaining contractual term (Year) | 6 years 3 months 14 days |
Number of shares, exercisable (in shares) | 1,564,287 |
Weighted-average remaining contractual term, exercisable (Year) | 5 years 6 months 29 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) | 1,366,487 |
Weighted-average remaining contractual term (Year) | 6 years 11 months 8 days |
Number of shares, exercisable (in shares) | 864,151 |
Weighted-average remaining contractual term, exercisable (Year) | 6 years 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 |
Number of shares, exercisable (in shares) | 580,972 |
Weighted-average remaining contractual term, exercisable (Year) | 4 years 10 months 20 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) | 5 years 7 months 2 days |
Number of shares, exercisable (in shares) | 113,039 |
Weighted-average remaining contractual term, exercisable (Year) | 5 years 7 months 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) | 5 years 7 months 2 days |
Number of shares, exercisable (in shares) | 6,125 |
Weighted-average remaining contractual term, exercisable (Year) | 5 years 7 months 2 days |
Note 5 - Stock Incentive Plan_4
Note 5 - Stock Incentive Plan - Restricted Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] | 6 Months Ended | |
Jun. 30, 2024 $ / shares shares | ||
Unvested balance (in shares) | shares | 418,091 | |
Unvested balance, grant date fair value (in dollars per share) | $ / shares | $ 3.4 | |
Granted(1) (in shares) | shares | 29,973 | [1] |
Granted(1) (in dollars per share) | $ / shares | $ 0.65 | [1] |
Vested, RSUs (in shares) | shares | (98,910) | |
Vested, grant date fair value (in dollars per share) | $ / shares | $ 4.1 | |
Unvested balance (in shares) | shares | 349,154 | |
Unvested balance, grant date fair value (in dollars per share) | $ / shares | $ 2.97 | |
[1]There were no restricted stock units granted during the three months ended March 31, 2024. |
Note 5 - Stock Incentive Plan_5
Note 5 - Stock Incentive Plan - Schedule of Option Grants and Fair Value (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Stock options granted (in shares) | 68,592 | 0 | 78,592 | 508,902 |
Weighted-average grant date fair value per share (in dollars per share) | $ 0.51 | $ 0 | $ 0.48 | $ 2.38 |
Fair value of shares vested | $ 181,084 | $ 305,087 | $ 359,734 | $ 528,360 |
Note 6 - Related Party Transa_2
Note 6 - Related Party Transactions (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2024 USD ($) | Jun. 30, 2024 USD ($) | |
Tactic Pharma, LLC [Member] | ||
Related Party Transaction, Amounts of Transaction | $ 0 | $ 0 |
Tactic Pharma, LLC [Member] | Monopar Therapeutics [Member] | ||
Equity Method Investment, Ownership Percentage | 24.30% | 24.30% |
Note 7 - Loss per Share - Basic
Note 7 - Loss per Share - Basic and Diluted Loss per Share (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Net loss | $ (1,715,309) | $ (1,641,226) | $ (2,199,991) | $ (2,434,556) | $ (3,356,535) | $ (4,634,547) |
Weighted Average Number of Shares Outstanding, Basic (in shares) | 17,514,637 | 13,420,029 | 16,747,198 | 13,263,770 | ||
Net loss per common share, basic and diluted (in dollars per share) | $ (0.1) | $ (0.16) | $ (0.2) | $ (0.35) | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2,452,747 | 2,639,566 | ||||
Share-Based Payment Arrangement, Option [Member] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 2,104,000 | 2,114,000 | 2,104,000 | 2,114,000 | ||
Restricted Stock Units (RSUs) [Member] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 349,000 | 526,000 | 349,000 | 526,000 |
Note 8 - Commitments and Cont_2
Note 8 - Commitments and Contingencies (Details Textual) $ in Thousands | Jun. 30, 2024 USD ($) |
XOMA Ltd. [Member] | Maximum [Member] | |
Indefinite-Lived License Agreements | $ 14,925 |
Note 9 - Subsequent Events (Det
Note 9 - Subsequent Events (Details Textual) - Monopar Therapeutics Inc. 2016 Stock Incentive Plan [Member] - shares | Aug. 12, 2024 | Aug. 05, 2024 | Jun. 30, 2024 | Mar. 31, 2022 | Apr. 30, 2020 | Oct. 31, 2017 | Apr. 30, 2016 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 5,100,000 | 5,100,000 | 3,100,000 | 1,600,000 | 700,000 | ||
Subsequent Event [Member] | |||||||
Stockholders' Equity, Reverse Stock Split | 5 | 5 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 1,420,000 | 7,100,000 |
Note 9 - Subsequent Events - Sc
Note 9 - Subsequent Events - Schedule of Subsequent Events (Details) - USD ($) $ / shares in Units, shares in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Net loss | $ (1,715,309) | $ (1,641,226) | $ (2,199,991) | $ (2,434,556) | $ (3,356,535) | $ (4,634,547) |
Weighted-average common shares outstanding, basic and diluted (in shares) | 3,503 | 2,685 | 3,350 | 2,653 | ||
Net loss per common share, basic and diluted (in dollars per share) | $ (0.49) | $ (0.82) | $ (1) | $ (1.75) | ||
Share-Based Payment Arrangement, Option [Member] | ||||||
Anti-dilutive securities excluded (in shares) | 421 | 423 | 421 | 423 | ||
Restricted Stock Units (RSUs) [Member] | ||||||
Anti-dilutive securities excluded (in shares) | 70 | 106 | 70 | 106 |