Genprex, Inc. Prices $8,000,000 Common Stock Offering Priced At-The-Market
January 23 2020 - 9:00AM
Business Wire
Genprex, Inc. (“Genprex” or the “Company”) (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 7,620,000 shares of common stock, par value $0.001 per share at
an offering price of $1.05 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 $8,000,000 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 January 27, 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.
This offering was made pursuant to an effective shelf
registration statement on Form S-3 (File No. 333-233774) previously
filed with the U.S. Securities and Exchange Commission (the “SEC”).
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy 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. A prospectus supplement relating to the shares of
common stock will be filed by Genprex with the SEC. When available,
copies of the prospectus supplement, together with the accompanying
prospectus, can be obtained at the SEC's website at www.sec.gov or
from A.G.P./Alliance Global Partners, 590 Madison Avenue, 36th
Floor, New York, New York 10022 or by email at
prospectus@allianceg.com. Joseph Gunnar & Co. LLC, 30 Broad
Street, 11th Floor, New York, New York 10004 or by email at
investmentbanking@jgunnar.com.
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™ 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 or follow Genprex on Twitter, Facebook and
LinkedIn.
Forward-Looking Statements
Certain statements in this press release are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements may be identified by the use of words
such as "anticipate," "believe," "forecast," "estimated" and
"intend" or other similar terms or expressions that concern
Genprex’s expectations, strategy, plans or intentions. These
forward-looking statements are based on Genprex’s current
expectations and actual results could differ materially. There are
a number of factors that could cause actual events to differ
materially from those indicated by such forward-looking statements.
These factors include, but are not limited to, our need for
additional financing; our ability to continue as a going concern;
clinical trials involve a lengthy and expensive process with an
uncertain outcome, and results of earlier studies and trials may
not be predictive of future trial results; our clinical trials may
be suspended or discontinued due to unexpected side effects or
other safety risks that could preclude approval of our product
candidates; uncertainties of government or third party payer
reimbursement; competition; uncertainties of patent protection and
litigation; dependence upon third parties; regulatory, financial
and business risks related to our international expansion and risks
related to failure to obtain FDA clearances or approvals and
noncompliance with FDA regulations. There are no guarantees that
any of our products will be utilized or prove to be commercially
successful. Additionally, there are no guarantees that future
clinical trials will be completed or successful or that any of our
product candidates will receive regulatory approval for any
indication or prove to be commercially successful. Investors should
read the risk factors set forth in Genprex’s Form 10-K for the year
ended December 31, 2018, and other periodic reports filed with the
Securities and Exchange Commission. While the list of factors
presented here is considered representative, no such list should be
considered to be a complete statement of all potential risks and
uncertainties. Unlisted factors may present significant additional
obstacles to the realization of forward-looking statements.
Forward-looking statements included herein are made as of the date
hereof, and Genprex disclaims any obligation to publicly update or
release any revisions to these forward-looking statements, whether
as a result of new information, future events or otherwise, after
the date of this press release or to reflect the occurrence of
unanticipated events, except as required by law.
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Genprex, Inc. (877) 774-GNPX (4679)
Investor Relations GNPX Investor Relations (877) 774-GNPX
(4679) ext. #2 investors@genprex.com
Media Contact Genprex Media Relations Kalyn Dabbs (877)
774-GNPX (4679) ext. #3 media@genprex.com
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