Genprex
(NASDAQ: GNPX), a clinical stage gene therapy company developing a new and
potentially life-saving approach to treating some of the world’s most deadly
cancers based upon a novel proprietary technology platform, today announced the
closing of its common stock offering priced at-the-market under Nasdaq rules.
Genprex sold a total of 7,620,000 shares of its common stock at a price of
$1.05 each, resulting in total gross proceeds of $8 million before deducting
commissions and estimated offering expenses. The company plans to use the
proceeds toward the advancement of its lead clinical programs in non-small cell
lung cancer (“NSCLC”) and for working capital and general corporate purposes.
A.G.P./Alliance Global Partners served as the lead placement agent for the
offering, and Joseph Gunnar & Co., LLC served as co-placement agent for the
offering. A prospectus supplement and accompanying prospectus relating to the
offering have been filed with the SEC and are available on the SEC’s website
at www.SEC.gov. “The
successful closing of this transaction is further evidence that our corporate
vision and proprietary technology in the gene therapy cancer treatment market
are gaining traction with institutional investors,” Genprex CEO Rodney Varner
stated in the news release. “This offering significantly improves our balance
sheet and allows us the financial flexibility to further develop our pipeline
and advance our clinical trials in NSCLC for our lead drug candidate, Oncoprex,
in combination with already approved lung cancer therapies. We are excited to
generate additional clinical data in NSCLC from Oncoprex’s novel mechanisms of
action.”
To view the full press release, visit http://ibn.fm/1Wmpr
About Genprex, Inc.
Genprex, Inc. is a clinical-stage gene therapy company
developing potentially life-changing technologies for cancer patients based
upon a unique proprietary technology platform. Genprex’s platform technologies
are designed to administer cancer-fighting genes by encapsulating them into
nanoscale hollow spheres called nanovesicles, which are then administered
intravenously and taken up by tumor cells where they express proteins that are
missing or found in low quantities. The company’s lead product candidate,
Oncoprex(TM) immunogene therapy for non-small cell lung cancer (“NSCLC”), has a
multimodal mechanism of action whereby it has been shown to interrupt cell
signaling pathways that cause replication and proliferation of cancer cells,
re-establish pathways for apoptosis, or programmed cell death, in cancer cells,
and modulate the immune response against cancer cells. Oncoprex has also been
shown to block mechanisms that create drug resistance. In January 2020, the FDA
granted Fast Track Designation for Oncoprex(TM) imunogene therapy for NSCLC in
combination therapy with AstraZeneca’s Tagrisso(R). For more information,
please visit the company’s website at www.Genprex.com.
NOTE TO INVESTORS: The latest news and updates
relating to GNPX are available in the company’s newsroom at http://ibn.fm/GNPX
About MissionIRNewsBreaks
MissionIRNewsBreaks provide
a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by
our Team of professional journalists that keep a constant eye on the markets, these
posts are designed to inform you on the latest happenings of our clients and
other publicly traded companies on our radar. From earnings, acquisitions and
agreements to conference attendance and clinical study results, our news breaks
keep you up-to-date with the day’s top movers. MissionIR is primarily focused
on strategic communications. We have executed countless communications programs
to address the needs of companies ranging from start-ups to established
industry leaders, gaining valuable experience and the expertise necessary to
determine the most effective strategy for any given situation.
Please see full terms of use and disclaimers on the Mission
Investor Relations website applicable to all content provided by MIR, wherever
published or re-published: http://www.missionir.com/disclaimer.html
