Clinical stage biopharmaceutical outfit Monopar Therapeutics Inc (NASDAQ:MNPR) had a pretty tough time in the markets last week and ended up with a decline of as much as 5% for the week.
On Friday, MNPR stock fell 0.20% at $5 with more than 23k shares, compared to its average volume of 75k shares. The stock has moved within a range of $4.7001 – 5.0000 after opening trade at $4.85.
Although the stock may have declined it might be a good time for investors to figure out if this might be an opportunity to get into the stock or not. As it happens, this past Friday the stock was in the news after it announced its financial results for the third fiscal quarter that had ended on September 30, 2021. It might be a good time to take a look at some of the major highlights from the financial results.
At the end of the third quarter, the company had cash and cash equivalents to the tune of $22.3 million. The company noted that its cash balance at this point is going to be sufficient for financing the Phase 2b and the Phase 3 of the VOICE clinical trial as well as the Phase 1B camsirubicin clinical trial up until December next year.
However, Monopar noted that it was going to work on raising additional funds in the coming 12 months.
MNPR stock is trading above the 20-Day and 50-Day Moving averages of $4.92 and $4.93 respectively. However, the stock is trading below the 200-Day moving average of $5.79. The stock is up 7% over the past month.