Thursday, May 28, 2020

MissionIRNewsBreaks – Genprex, Inc. (NASDAQ: GNPX) Secures $2.5 Million in Cash Proceeds from Recent Warrant Exercises


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.

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