Monopar Therapeutics (NASDAQ: MNPR) reported a Q4 2025 net loss of $5.2M (EPS -$0.61), missing the consensus EPS estimate of -$0.51 by $0.13. Full-year net loss improved 12% to $13.7M. The company holds $140.4M in cash and plans a mid-2026 NDA submission for ALXN1840 in Wilson disease. Shares traded slightly higher after the release.
About Monopar Therapeutics Inc.
Monopar Therapeutics Inc. (Nasdaq: MNPR) is a clinical-stage biopharmaceutical company headquartered in Wilmette, Illinois, founded in 2014. The company focuses on developing innovative treatments for patients with unmet medical needs, operating two core programs: ALXN1840 (tiomolybdate choline), a late-stage oral therapy targeting Wilson disease, and a radiopharmaceutical oncology pipeline built on the MNPR-101 antibody platform targeting the urokinase plasminogen activator receptor (uPAR).
As of March 2026, MNPR carries a market capitalization of approximately $364.6 million to $371.8 million (small-cap). The company has approximately 16 employees and reports no revenue, as it remains pre-commercial and is fully funded through equity raises. The stock trades at a negative P/E ratio of -16.17, reflecting its clinical-stage, loss-generating status, and carries no dividend yield. Following a successful $91.9 million underwritten public offering in September 2025, the balance sheet is well-positioned with cash, cash equivalents, and short-term investments of $140.4 million as of December 31, 2025.
Top Financial Highlights
- Q4 2025 net loss was $5.2 million, or -$0.61 per share, compared to $10.9 million, or -$2.23 per share, in Q4 2024 – a 52% improvement
- Full-year 2025 net loss was $13.7 million, or -$1.85 per share, compared to $15.6 million, or -$4.11 per share, in fiscal 2024
- Cash and short-term investments as of December 31, 2025 totaled $140.4 million, providing runway through at least December 31, 2027
- Total operating expenses for full-year 2025 were $16.704 million versus $16.162 million in 2024
- Operating loss for full-year 2025 was -$16.704 million versus -$16.162 million in 2024
- Interest income rose to $2.988 million in 2025, up significantly from prior year, driven by higher cash and investments following the September 2025 equity raise
- Q4 2025 R&D expenses were $3.9 million, down sharply from $9.9 million in Q4 2024, primarily due to the absence of one-time in-licensing fees for ALXN1840 incurred in 2024
- Full-year 2025 R&D expenses were $9.9 million versus $13.0 million in 2024
- Q4 2025 G&A expenses were $2.2 million, up from $1.2 million in Q4 2024, reflecting higher personnel, stock-based compensation, bonuses, and patent legal fees
- Full-year 2025 G&A expenses were $6.8 million versus $3.2 million in 2024
- Equity raise in 2025 generated approximately $91.9 million net proceeds (after concurrent stock repurchase, before expenses) through an underwritten public offering
- NDA submission planned for ALXN1840 (Wilson disease) in mid-2026, based on recent FDA interactions
- No revenue reported – the company remains in clinical-stage development with zero commercial sales
- EPS consensus miss of -$0.13 versus the analyst estimate of -$0.51; reported EPS was -$0.64
Beat or Miss?
| Metric | Reported | Estimated/Expected | Difference / Analysis |
| Q4 2025 EPS | -$0.61 / -$0.64 | -$0.51 (consensus) | Missed by ~$0.13 |
| Full-Year EPS | ($1.85) | N/A | Improved vs. -$4.11 in 2024 |
| Total Revenue | $0 | N/A (pre-commercial) | No revenue expected at clinical stage |
| Q4 R&D Expenses | $3.9M | N/A | Down ~61% vs. Q4 2024 ($9.9M) |
| Q4 G&A Expenses | $2.2M | N/A | Up ~83% vs. Q4 2024 ($1.2M) |
| Cash on Hand | $140.4M | N/A | Substantially increased post-equity raise |
| Interest Income (FY) | $2.988M | N/A | Rose sharply from prior year |
What Leadership Is Saying?
“2025 was a productive year for Monopar, marked by multiple ALXN1840 data presentations, an important publication, a strengthened balance sheet and continued progress toward a planned New Drug Application submission for ALXN1840 in Wilson disease. We also recently strengthened our leadership team with the addition of Susan Rodriguez as Chief Commercial and Strategy Officer as we prepare for the potential launch of ALXN1840. We are grateful to the Wilson disease patients and their families whose experiences have informed our efforts to advance ALXN1840.” – Chandler Robinson, MD, Chief Executive Officer, Monopar Therapeutics
Interest income rose to $2.988 million in fiscal 2025, reflecting higher cash and investments following the September 2025 capital raise, and the company expects its current funds to support operations through at least December 31, 2027, including regulatory and potential commercial activities for ALXN1840, continued development of MNPR-101 programs, and internal research and development. – Quan Vu, Chief Financial Officer, Monopar Therapeutics
Historical Performance
Year-over-Year Financial Comparison
| Category | Q4 2025 | Q4 2024 | Change (%) |
| Net Loss | -$5.2M | -$10.9M | -52.3% (improvement) |
| EPS (Net Loss per Share) | ($0.61) | ($2.23) | -72.6% (improvement) |
| R&D Expenses | $3.9M | $9.9M | -60.60% |
| G&A Expenses | $2.2M | $1.2M | 83.30% |
| Category | Full Year 2025 | Full Year 2024 | Change (%) |
| Net Loss | -$13.7M | -$15.6M | -12.2% (improvement) |
| EPS (Net Loss per Share) | ($1.85) | ($4.11) | -55.0% (improvement) |
| Total Operating Expenses | $16.704M | $16.162M | 3.40% |
| R&D Expenses | $9.9M | $13.0M | -23.80% |
| G&A Expenses | $6.8M | $3.2M | 112.50% |
| Interest Income | $2.988M | Lower (not specified) | Significant increase |
| Cash on Hand | $140.4M | Substantially lower | Post-offering increase |
Competitor Landscape
Monopar’s ALXN1840 competes in the rare Wilson disease therapeutic space and the broader radiopharmaceutical oncology market. Key competitors and comparatives include companies developing next-generation Wilson disease therapies and radiopharmaceutical platforms.
| Company | Pipeline Candidate | Stage | Focus Area | Notable Notes |
| Monopar Therapeutics (MNPR) | ALXN1840 | NDA Submission (Mid-2026) | Wilson disease (oral) | First novel treatment in 40 years if approved |
| Monopar Therapeutics (MNPR) | MNPR-101 (Zr/Lu/Ac) | Phase 1 (AU/US) | Oncology radiopharmaceuticals (uPAR) | IND cleared in US for MNPR-101-Lu |
| Generation Bio | Gene therapy | Preclinical/Early Clinical | Wilson disease (gene therapy) | Competing via long-term curative approach |
| Vivet Therapeutics | VTX-801 | Clinical | Wilson disease (gene therapy) | Backed by gene therapy expertise |
| DepYmed Inc. | DPM-1001 | Clinical | Wilson disease | Small-molecule approach |
| Deep Genomics | DG 12P1 | Research | Wilson disease (RNA medicine) | AI-designed therapy platform |
| Orphalan SA | Cuvrior (trientine tetra-HCl) | Marketed (2023 US launch) | Wilson disease (standard of care) | First new WD drug in decades prior to ALXN1840 potential approval |
| Ultragenyx Pharmaceutical | Gene therapy | Research | Wilson disease | Partnered with Vivet |
The majority of competitors listed above are either private companies (Vivet Therapeutics, DepYmed, Deep Genomics, Generation Bio as a public company with limited Wilson disease revenue) or have not publicly disclosed Wilson disease-specific quarterly P&L figures for direct comparison. Generation Bio (GBIO) is publicly traded but shifted strategic focus. Specific YoY revenue/net income comparisons for these competitors at the Wilson disease program level are not publicly available in standardized quarterly form.
Competitor YoY Snapshot
| Category | Monopar Q4 2025 | Monopar Q4 2024 | Change (%) |
| Net Loss | -$5.2M | -$10.9M | -52.3% improvement |
| R&D Expenses | $3.9M | $9.9M | -60.60% |
| G&A Expenses | $2.2M | $1.2M | 83.30% |
| Cash Position | $140.4M (FY end) | Substantially lower | Post-offering boost |
How the Market Reacted?
Shares of Monopar Therapeutics (MNPR) were released before market open on March 27, 2026. Despite reporting a Q4 EPS miss of -$0.13 relative to the consensus estimate of -$0.51, shares traded higher by approximately $1.07 midday to around $55.63, indicating that investors viewed the report constructively. The stock has a 12-month trading range of $26.06 to $105.00, reflecting significant volatility tied to its clinical pipeline milestones and binary NDA outcomes.
Analyst sentiment remains net positive with an average “Buy” rating and a consensus price target of $107, while institutional investors including ADAR1, Millennium, and Janus Henderson materially increased their holdings in Q4 2025. The overall tone of the earnings release is bullish, anchored by the confirmed mid-2026 NDA filing timeline for ALXN1840, a strengthened $140.4M cash position, and a narrowing net loss trajectory year-over-year.
