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 its entry into securities purchase agreements with institutional investors for the purchase and sale of 7,620,000 shares of common stock. According to the update, the offering is priced at-the-market under Nasdaq rules with par value $0.001 per share at an offering price of $1.05 per share, pursuant to a registered direct offering. Gross proceeds will be approximately $8,000,000 before deducting fees and other estimated offering expenses, and the company intends to use the net proceeds to advance its lead clinical programs in non-small cell lung cancer (“NSCLC”) and for working capital and general corporate purposes. Closing of the registered direct offering is expected to occur on or about January 27, 2020, subject to the satisfaction of customary closing conditions.
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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 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, please visit the company’s web site at www.Genprex.com.
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