Genprex (NASDAQ: GNPX), a clinical-stage gene therapy company focused on developing life-changing therapies for patients with cancer and diabetes, has entered into definitive agreements. The agreements are for the sale and issuance of 1,542,112 shares of common stock (or prefunded warrants in lieu thereof) of the company and warrants to purchase up to 1,542,112 shares of common stock; the stocks and warrants are offered at a combined price of $4.215 per share of common stock (or per prefunded warrant in lieu thereof) and accompanying warrant. Genprex will be receive approximately $6.5 million in gross proceeds from the offering, before standard fees and expenses are deducted. According to the announcement, the warrants have an exercise price of $4.09 per share and will be exercisable on the date of issuance; they will expire five years following the date of issuance. The company anticipates the agreement, which will be subject to typical closing conditions, will close approximately about March 21, 2024. The company anticipates using the funds from the offering for working capital and general corporate purposes.
To view the full press release, visit https://ibn.fm/E7mNh
About Genprex Inc.
Genprex is a clinical-stage gene therapy company focused on developing life-changing therapies for patients with cancer and diabetes. Genprex’s technologies are designed to administer disease-fighting genes to provide new therapies for large patient populations with cancer and diabetes that currently have limited treatment options. Genprex works with world-class institutions and collaborators to develop drug candidates to further its pipeline of gene therapies in order to provide novel treatment approaches. Genprex’s oncology program utilizes its proprietary, nonviral Oncoprex(R) Nanoparticle Delivery System, which encapsulates the gene-expressing plasmids using lipid nanoparticles. The resultant product is administered intravenously, where it is taken up by tumor cells that then express tumor suppressor proteins that are deficient in the tumor. The company’s lead product candidate, REQORSA(R) Immunogene Therapy (quaratusugene ozeplasmid), is being evaluated in three clinical trials as a treatment for non-small cell lung cancer (“NSCLC”) and small cell lung cancer (“SCLC”). Each of Genprex’s three lung cancer clinical programs has received a fast-track designation from the Food and Drug Administration for the treatment of that patient population, and Genprex’s SCLC program has received an FDA Orphan Drug Designation. Genprex’s diabetes gene therapy approach is comprised of a novel infusion process that uses an adeno-associated virus (“AAV”) vector to deliver Pdx1 (“Pdx1”) and MafA (“MafA”) genes directly to the pancreas. In models of type 1 diabetes, GPX-002 transforms alpha cells in the pancreas into functional beta-like cells, which can produce insulin but may be distinct enough from beta cells to evade the body’s immune system. In a similar approach, GPX-003 for type 2 diabetes, where autoimmunity is not at play, is believed to rejuvenate and replenish exhausted beta cells. 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
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