Genprex (NASDAQ: GNPX), a clinical-stage gene therapy company, on Wednesday announced a registered direct offering of 3,167,986 shares of its common stock at a price of $0.40 each, for gross proceeds of about $1.26 million prior to deduction of commissions and offering expenses. In a concurrent private placement, Genprex agreed to issue unregistered warrants to purchase up to 3,167,986 shares to the investors in the registered direct offering. The warrants, which have an exercise price of $0.46 per share, will be exercisable six months from the issuance date and will expire after five years. The warrants will be exercisable for 100% of shares purchased by each investor in the registered direct offering. Additionally, Genprex agreed to decrease the exercise price of 2,283,740 warrants held by the purchasers in the registered direct offering to $0.46, which will be exercisable six months from the closing of the offering and the expiration date will be extended to January 27, 2024. Closing is anticipated to take place on or around November 25, 2019, subject to the completion of customary closing conditions. Genprex plans to use the net proceeds of the offering for working capital and general corporate purposes.
To view the full press release, visit http://nnw.fm/1If9r
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 interrupts cell signaling pathways that cause replication and proliferation of cancer cells, re-establishes pathways for apoptosis, or programmed cell death, in cancer cells, and modulates the immune response against cancer cells. Oncoprex has also been shown to block mechanisms that create drug resistance. For more information, 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://nnw.fm/GNPX
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork.