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.”
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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.
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