Detailed financial statements for Monopar Therapeutics Inc. (MNPR): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Monopar Therapeutics Inc., a clinical-stage biopharmaceutical company, engages in developing therapeutics for the treatment of cancer in the United States. The company develops ALXN1840, a late-stage, investigational once-daily and oral medicine; MNPR-101, a proprietary humanized monoclonal antibody that is conjugated with different radioisotopes for the treatment of advanced solid tumors expressing urokinase plasminogen activator receptor; and MNPR-101-Zr, which is in phase...
Analysis Summary
Trailing-twelve-month margins: gross margin 0.0%, operating margin 0.0%, net margin 0.0%.
At the current price of $101.45, MNPR has negative trailing earnings (P/E not meaningful) and an ROE of -13.08%. Market capitalisation stands at $680M.
Balance sheet quality for MNPR: current ratio of 51.4, net cash position of $140.2M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Research & Development | $280355 | $935319 | $1.8M | $2.0M | $4.1M | $6.5M | $7.6M | $5.6M | $13.0M | $9.90B |
| Selling, General & Admin | $912474 | $1.2M | $1.6M | $2.4M | $2.4M | $2.6M | $2.9M | $3.2M | $3.2M | $6.80B |
| Operating Expenses | $1.2M | $16.6M | $3.4M | $4.3M | $6.5M | $9.1M | $10.5M | $8.8M | $16.2M | $16.7M |
| Operating Income | -$1.2M | -$16.6M | -$3.4M | -$4.3M | -$6.5M | -$9.1M | -$10.5M | -$8.8M | -$16.2M | -$16.7M |
| EBITDA | $8032 | -$16.6M | 0 | -$4.2M | 0 | -$9.1M | -$10.5M | -$8.4M | -$15.6M | -$13.7M |
| Interest Expense | $7232 | $48255 | $103215 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pre-tax Income | -$1.2M | -$16.6M | -$3.3M | -$4.2M | -$6.3M | -$9.1M | -$10.5M | -$8.4M | -$15.6M | -$13.7M |
| Income Tax | $800 | 0 | -$71615 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | -$1.2M | -$16.6M | -$3.2M | -$4.2M | -$6.3M | -$9.1M | -$10.5M | -$8.4M | -$15.6M | -$13.7M |
| EPS | $-0.12 | $-1.59 | $-0.31 | $-0.40 | $-0.58 | $-0.73 | $-0.83 | $-0.58 | $-1.36 | $-1.85 |
| EPS (Diluted) | $-0.12 | $-1.59 | $-0.31 | $-0.40 | $-0.58 | $-0.73 | $-0.83 | $-0.58 | $-1.36 | $-1.85 |
| Shares Outstanding (Diluted) | $9.9M | $10.4M | $10.4M | $10.6M | $11.0M | $12.5M | $12.7M | $14.5M | $11.5M | $7.4M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Revenue | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | 0 | 0 |
| Operating Income | -$4.1M | -$6.2M | -$5.2M | -$6.6M |
| EBITDA | -$4.1M | -$5.2M | -$3.9M | -$5.3M |
| Net Income | -$3.4M | -$5.2M | -$3.9M | -$5.3M |
| EPS | $-0.48 | $-0.78 | $-0.46 | $-0.62 |
| EPS (Diluted) | $-0.48 | $-0.78 | $-0.46 | $-0.62 |
Balance Sheet (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Cash & Equivalents | $2.1M | $9.0M | $6.9M | $13.2M | $16.7M | $20.3M | $8.2M | $7.3M | $45.8M | $61.8M |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | $4.9M | 0 | $14.4M | $78.6M |
| Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | $2.1M | $9.1M | $7.3M | $13.2M | $16.8M | $20.5M | $13.2M | $7.3M | $60.3M | $140.5M |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 | 0 | $61228 | $12646 | 0 | $254921 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | $730.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $2.9M | $9.9M | $7.3M | $13.4M | $16.9M | $20.5M | $13.2M | $7.3M | $60.3M | $140.7M |
| Accounts Payable | $64510 | $311867 | $399551 | $724165 | $1.2M | $1.6M | $3.1M | $1.8M | $2.3M | $2.7M |
| Short-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | $64510 | $311867 | $399551 | $724165 | $1.2M | $1.6M | $3.1M | $1.8M | $5.3M | $2.7M |
| Long-term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | $64510 | $311867 | $399551 | $724165 | $1.2M | $1.6M | $3.1M | $1.8M | $5.3M | $2.9M |
| Retained Earnings | -$1.9M | -$18.4M | -$21.7M | -$25.9M | -$32.2M | -$41.3M | -$51.8M | -$60.2M | -$75.8M | -$89.5M |
| Total Equity | $2.8M | $9.6M | $6.9M | $12.6M | $15.7M | $18.9M | $10.1M | $5.6M | $55.0M | $137.8M |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | $8408 | 0 | 0 | $154920 |
| Net Debt | -$2.1M | -$9.0M | -$6.9M | -$13.2M | -$16.7M | -$20.3M | -$13.1M | -$7.3M | -$60.2M | -$140.2M |
| Working Capital | $2.0M | $8.8M | $6.9M | $12.5M | $15.6M | $18.9M | $10.0M | $5.6M | $55.0M | $137.7M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Cash & Equivalents | $127.7M | $61.8M | $52.5M | $52.8M |
| Total Assets | $144.2M | $140.7M | $138.0M | $135.0M |
| Total Liabilities | $2.6M | $2.9M | $2.6M | $4.1M |
| Total Equity | $141.6M | $137.8M | $135.4M | $130.9M |
| Total Debt | $102236 | $154920 | $131565 | $107829 |
Cash Flow (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Net Income | -$1.2M | -$16.6M | -$3.2M | -$4.2M | -$6.3M | -$9.1M | -$10.5M | -$8.4M | -$15.6M | -$13.7M |
| Depreciation & Amortization | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock-based Compensation | 0 | $305205 | $529332 | $1.0M | $1.3M | $1.5M | $1.6M | $1.9M | $1.1M | $4.8M |
| Change in Working Capital | -$9035 | $120577 | -$188157 | $196024 | $443809 | $317769 | $1.6M | -$1.4M | $3.5M | -$2.6M |
| Operating Cash Flow | -$1.2M | -$2.6M | -$2.9M | -$3.0M | -$4.7M | -$7.3M | -$7.2M | -$7.9M | -$6.4M | -$12.2M |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 | $1 | 0 | 0 | 0 | 0 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$35.0M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$1.2M | -$2.6M | -$2.9M | -$3.0M | -$4.7M | -$7.3M | -$7.2M | -$7.9M | -$6.4M | -$12.2M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Operating Cash Flow | -$2.1M | -$3.4M | -$3.5M | -$3.25B |
| Capital Expenditure | 0 | 0 | -$4 | 0 |
| Free Cash Flow | -$2.1M | -$3.4M | -$3.5M | -$3.25B |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | $1.1M | $1.1M | $1.7M | $1.43B |
Growth & Margins (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Net Income Growth (YoY) | | -1296.3% | +80.5% | -30.9% | -49.2% | -44.4% | -15.5% | +20.1% | -85.5% | +12.0% |
| EPS Growth (YoY) | | -1225.0% | +80.5% | -29.0% | -45.0% | -25.9% | -13.7% | +30.1% | -134.5% | -36.0% |
| Shares Change (YoY) | | +5.7% | +0.0% | +1.6% | +3.5% | +13.8% | +2.0% | +14.1% | -20.9% | -35.5% |
| FCF Growth (YoY) | | -119.9% | -9.9% | -4.5% | -54.5% | -56.9% | +1.2% | -8.7% | +18.5% | -90.5% |
| Effective Tax Rate | -0.1% | -0.0% | 2.2% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Per-Share Data (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF Per Share | $-0.12 | $-0.25 | $-0.28 | $-0.29 | $-0.43 | $-0.59 | $-0.57 | $-0.54 | $-0.56 | $-1.65 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $9.9M | $10.4M | $10.4M | $10.6M | $11.0M | $12.5M | $12.7M | $14.5M | $11.4M | $7.4M |
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
- Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
- Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
- Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
- R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
- Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap
Profitability
| Return on Equity | -13.08% |
| Return on Invested Capital | -16.89% |
| Return on Assets | -13.22% |
| Gross Margin | 0.00% |
| Operating Margin | 0.00% |
| Net Margin | 0.00% |
Financial Health
| Debt / Equity | 0.00 |
| Current Ratio | 33.56 |
Key Ratios (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -1104.17 | -83.33 | -427.42 | -207.50 | -52.76 | -21.99 | -14.28 | -2.93 | -16.18 | -35.30 |
| P/B | 461.24 | 143.54 | 199.58 | 69.59 | 21.37 | 10.57 | 14.94 | 4.41 | 4.57 | 3.51 |
| P/S | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |