AUSTIN,
Texas, July 21, 2023 /PRNewswire/ -- Genprex,
Inc. ("Genprex" or the "Company") (NASDAQ: GNPX), a
clinical-stage gene therapy company focused on developing
life-changing therapies for patients with cancer and diabetes,
today announced the closing of its previously announced registered
direct offering to healthcare-focused institutional investors of
7,425,744 shares of the Company's common stock and warrants to
purchase up to 7,425,744 shares of common stock at a combined
offering price of $1.01 per share of
common stock and accompanying warrant. The offering was priced
at-the-market under the Nasdaq rules.
H.C. Wainwright & Co. acted as the exclusive placement
agent for the offering.
The gross proceeds to Genprex from this offering were
approximately $7.5 million,
before deducting the placement agent's fees and other offering
expenses. Genprex intends to use the net proceeds from this
offering for working capital and general corporate purposes.
A "shelf" registration statement (File
Number 333-271386) relating to the offered securities was
filed with the Securities and Exchange Commission ("SEC") on
April 21, 2023 and was declared
effective on June 9, 2023. The
offering of the securities was made by means of a prospectus,
including a prospectus supplement, forming a part of the effective
registration statement. A prospectus supplement and accompanying
prospectus relating to the offering was filed with the SEC on
July 20, 2023. Electronic copies of
the prospectus supplement and accompanying prospectus may be
obtained on the SEC's website at www.sec.gov or by contacting H.C.
Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor,
New York, NY 10022, by phone at
(212) 856-5711 or e-mail at
placements@hcwco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
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 who 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, non-viral
ONCOPREX® 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
were deficient in the tumor. The Company's lead product candidate,
REQORSA® (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 have received a Fast Track
Designation from the Food and Drug Administration. Genprex's
diabetes gene therapy approach is comprised of a novel infusion
process that uses an adeno-associated virus (AAV) vector to deliver
Pdx1 and 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 are
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 web site
at www.genprex.com or follow Genprex
on Twitter, Facebook and LinkedIn.
Forward Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 and Private
Securities Litigation Reform Act, as amended, including those
relating to the intended use of proceeds from the registered direct
offering and other statement that are predictive in nature.
These statements may be identified by the use of forward-looking
expressions, including, but not limited to, "expect," "anticipate,"
"intend," "plan," "believe," "estimate," "potential," "predict,"
"project," "should," "would" and similar expressions and the
negatives of those terms. These statements relate to future
events and involve known and unknown risks, uncertainties and other
factors which may cause actual results, performance or achievements
to be materially different from any results, performance or
achievements expressed or implied by the forward-looking
statements. Such factors include the risk factors set forth in
the Company's filings with the SEC, including, without limitation,
its Annual Report on Form 10-K for the year ended December 31, 2022, its periodic reports on Form
10-Q, and its Current Reports on Form 8-K filed in 2023, as well as
the risks identified in the shelf registration statement and the
prospectus supplement relating to the offering. Prospective
investors are cautioned not to place undue reliance on such
forward-looking statements, which speak only as of the date of this
press release. Genprex undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new
information, future events or otherwise.
Genprex, Inc.
(877) 774-GNPX (4679)
GNPX Investor Relations
investors@genprex.com
GNPX Media Contact
Kalyn
Dabbs
media@genprex.com
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SOURCE Genprex, Inc.