Business
Genprex, Inc. Announces Closing Of $12 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules Without Warrants
Proceeds will add resources for the Company’s Acclaim-1 and Acclaim-2 clinical trials in lung cancer, as well as its pre-clinical programs in cancer and
About this update from Genprex, Inc.
[{"type":"text","content":"\nProceeds will add resources for the Company’s Acclaim-1 and Acclaim-2 clinical trials in lung cancer, as well as its pre-clinical programs in cancer and diabetes \n\n AUSTIN, Texas--(BUSINESS WIRE)--\nGenprex, Inc. (Nasdaq: GNPX) (“Genprex” or the “Company”), 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 of 3,116,884 shares of its common stock with a single healthcare-dedicated institutional investor. The offering was priced at-the-market under Nasdaq rules at a price of $3.85 per share for gross proceeds to the Company of $12 million, before deducting commissions and estimated offering expenses. There were no warrants issued in the offering.\n\n“We believe that the closing of this transaction with a single, healthcare dedicated institutional investor is further evidence that the potential of our gene therapies for cancer and diabetes is gaining recognition within the community of sophisticated healthcare investors. The proceeds will provide additional resources to conduct our Acclaim-1 and Acclaim-2 clinical trials, combining our gene therapy, REQORSA, with Tagrisso (by Astra Zeneca) and Keytruda (by Merck & Co.), respectively, for the treatment of non-small cell lung cancer, as well as continue the pursuit of our pre-clinical programs in cancer and diabetes, and to potentially acquire additional technologies for our pipeline,” said Rodney Varner, President and Chief Executive Officer of Genprex.\n\nA.G.P./Alliance Global Partners acted as sole placement agent for the offering.\n\nThe Company intends to use the net proceeds from the offering for working capital and other general corporate purposes.\n\nThe securities were offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-239134) previously filed with the U.S. Securities and Exchange Commission (the “SEC”).\n\nA prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and are available for free on the SEC's website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 1...