Piper Sandler initiated coverage of Monopar Therapeutics (NASDAQ:MNPR), assigning the biopharmaceutical company an Overweight rating and setting a price target of $76.00 per share. The stock has shown remarkable momentum, delivering an 11% return in the past week and an impressive 803% gain over the last year, according to InvestingPro data. The firm’s optimism is rooted in the potential of ALXN1840, Monopar’s treatment for Wilson disease, a rare and orphan condition that affects approximately 5,000 patients in the United States.
Monopar Therapeutics, currently valued at $209.6 million, acquired ALXN1840 from AstraZeneca (NASDAQ:AZN) in October 2024 after the latter discontinued the program. Piper Sandler’s coverage is based on the evaluation of data from the Phase 3 FoCus trial and additional mechanistic studies. InvestingPro analysis reveals the company maintains a healthy financial position with a current ratio of 5.41, indicating strong liquidity to support its development programs. The data suggests that ALXN1840 has a high chance of receiving FDA approval, especially considering the current unmet medical need for Wilson disease patients, particularly those with neurologic symptoms.
The company has announced plans to seek approval for ALXN1840 at the end of 2025 or early 2026. This move is seen as a significant step forward for Monopar, as the drug could address a critical gap in the treatment of this debilitating disease.
Additionally, Monopar Therapeutics is working on another therapy that targets uPAR for the treatment of solid tumors. Piper Sandler views this program as a potential upside in their valuation model, indicating that the company’s pipeline could contribute to future growth prospects.
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