Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Sep 25, 2026
Monopar Therapeutics (MNPR)
A forensic read on Monopar Therapeutics built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Grey Zone
Financial health
16.1
Distress distance
Clean
Earnings quality
4
Forensic signals
-10.0%
ROE
$600M
Market cap
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Monopar Therapeutics earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 16.1, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+156.7%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +156.7% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. A cash-flow measure on the same base disagrees: reported earnings ran in line with operating cash by 4% of net operating assets, against an accruals ratio of 156.7%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
OCF ($12M)
FY2025
Shareholder returns.Returned $35M to shareholders (buybacks + dividends) in FY2025, while operating cash flow itself was ($12M) — zero or negative. Capex isn't disclosed for FY2025, but free cash flow can't have been positive when operating cash flow already isn't, so the entire return is coming from debt or cash reserves, not cash the business generated.
n/m (stock split)
FY2023–FY2025
Share count (stock split).Diluted share count changed +168% over the last 2 years to FY2025, but that includes a large one-time change around FY2025 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw +63.7%/yr figure isn't a real buyback/dilution read here.
442% of rev
FY2023
Stock-based comp load.
Key fundamentals
Latest Revenue$429,039.00
Net Margin-1958.4%
Return on Equity-10.0%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Monopar Therapeutics's actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Sep 25, 2026. Forensic signals flag probability, not certainty.
Stock-based compensation ran 442% of revenue in FY2023 — about $0.69 per basic share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the basic count still rose about 37.1% a year, above the level at which the count is a material claim on a stake, and only one year's change is on file — enough to state what a holder gave up, not enough to say whether the rate is climbing or coming down. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.