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 QualityStocksNewsBreaks
QualityStocksNewsBreaks provide
a rapid summary of corporate news that catch the attention of QualityStocks.
QualityStocksBreaks are designed to keep investors up to date on important and
breaking news in the small-cap and micro-cap markets. Spanning all industries,
including energy, entertainment, telecommunications, healthcare, retail and
more, these news breaks deliver opportunities the investment community may have
missed. Whether it is earnings results, mergers and acquisitions, or any other
market-moving news, our news breaks keep you in the know. QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment