Genprex
(NASDAQ: GNPX) today announced the exercise of warrants to purchase
approximately 5.4 million shares of common stock issued in connection with
capital raises in May 2018 and November 2019 with two institutional investors
at a price of $0.46 per share, resulting in its receipt of approximately $2.5
million in cash proceeds. According to the update, the warrants were exercised
on or about May 22, 2020, the first day they became exercisable under their
respective agreement terms. The exercised warrants represent approximately 70%
of the company’s overall outstanding warrants and include all warrants that
have been issued to investors in the company’s public financings to date. After
the exercise, remaining warrants carry a weighted average exercise price of
approximately $3.93. Genprex believes the elimination of the majority of its
outstanding warrants represents a significant milestone for the company,
providing a dramatically simplified capital structure.
To view the full press release, visit http://ibn.fm/1QWNi
About Genprex, Inc.
Genprex, Inc. is a clinical-stage gene therapy company
developing potentially life-changing technologies for patients with cancer and
diabetes. Genprex’s technologies are designed to administer disease-fighting
genes to provide new treatment options for large patient populations with
cancer and diabetes who currently have limited treatment options. Genprex works
with world-class institutions and collaborators to in-license and develop drug
candidates to further its pipeline of gene therapies in order to provide novel
treatment approaches. The Company’s lead product candidate, Oncoprex(TM), is
being evaluated as a treatment for non-small cell lung cancer (“NSCLC”).
Oncoprex has a multimodal mechanism of action that 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 U.S. Food and Drug Administration granted Fast Track Designation for
Oncoprex immunogene therapy for NSCLC in combination therapy with osimertinib
(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
