On January 13, 2020, the Company entered into a Capital on DemandTM Sales Agreement with JonesTrading, as sales agent, pursuant to which Monopar may offer and sell (at its discretion), from time to time, through or to JonesTrading shares of its common stock, having an aggregate offering price of up to $19.7 million. Pursuant to this agreement, as of March 13, 2020, the Company sold 33,903 shares of its common stock at an average gross price of $15.9994 for net proceeds of $526,143, after fees and commissions of $16,284.

On January 4, January 31 and February 11, 2020, the Company's Plan Administrator Committee (with regards to non-officer employees) and the Company's Compensation Committee, as ratified by the full Board (in the case of officers and non-employee direrectors) granted an aggregate of 205,110 stock options with exercise prices ranging from $12.93 to $19.50 for an aggregate grant date fair value of approximately $2.1 million which will be expensed over the vesting period. All stock options have a 10 year term and vest from 1 to 4 years. The Company also granted an aggregate 45,722 restricted stock units on January 31, 2020 and February 11, 2020, with an aggregate value of approximately $0.7 million which vest from 1 to 4 years.

In December 2019, a novel strain of coronavirus (“Covid-19”) surfaced in China and by March 2020 Covid-19 was designated a global pandemic, resulting in travel restrictions and temporary shut-downs of non-essential businesses in many states in the United States. The Company is able to remain open but has required their employees work from home. Due to the volatility of the stock markets resulting from the travel restrictions and temporary business shut-downs, the Company may face challenges in raising substantial cash in the near-term. Due to many uncertainties, the Company is unable to estimate the pandemic’s financial impact or duration at this time, or its potential impact on the Company’s planned clinical trials.