AUSTIN, Texas & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Genprex, Inc. (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 it has entered into securities purchase agreements with institutional investors for the purchase and sale of 5,000,000 shares of common stock, par value $0.001 per share, at an offering price of $3.50 per share, pursuant to a registered direct offering, priced at-the-market under Nasdaq rules. There are no warrants in the offering. The gross proceeds of the offering will be approximately $17,500,000 before deducting fees and other estimated offering expenses. 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. The closing of the registered direct offering is expected to take place on or about February 21, 2020, subject to the satisfaction of customary closing conditions.
A.G.P./Alliance Global Partners is acting as lead placement agent for the offering.
Joseph Gunnar & Co., LLC is acting as co-placement agent for the offering.
About Genprex, Inc.
Genprex, Inc. is a clinical stage gene therapy company developing potentially life-changing technologies for cancer patients with cancer and other serious diseases. Genprex’s technologies are designed to administer disease-fighting genes to provide new treatment options for large patient populations with cancer and other serious diseases who currently have limited treatment options. Genprex works with world-class institutions and collaborators to in-license and develop drug candidates to further its pipeline of gene therapies in order to provide novel treatment approaches for patients with cancer and other serious diseases. The company’s lead product candidate, Oncoprex™ immunogene therapy for non-small cell lung cancer (NSCLC), uses the company's unique, proprietary platform which delivers 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. In January 2020, the FDA granted Fast Track Designation for Oncoprex in combination with AstraZeneca's Tagrisso® for the treatment of NSCLC.For more information, please visit the company’s web site at www.genprex.com or follow Genprex on Twitter, Facebook and LinkedIn.
