Genprex, Inc. Announces $12 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules, Without Warrants
December 22 2020 - 1:15PM
Business Wire
Genprex, 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 it has entered into a securities purchase agreement
with a single healthcare-dedicated institutional investor for the
purchase and sale of 3,116,884 shares of its common stock at a
purchase price of $3.85 per share in a registered direct offering
priced at-the-market under Nasdaq rules. No warrants will be issued
in connection with the transaction. The closing of the offering is
expected to occur on or about December 24, 2020, subject to the
satisfaction of customary closing conditions.
A.G.P./Alliance Global Partners is acting as sole placement
agent for the offering.
This offering is being made 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”).
A prospectus supplement describing the terms of the proposed
offering will be filed with the SEC and will be available on the
SEC’s website located at http://www.sec.gov. Electronic copies of
the prospectus supplement may be obtained, when available, from
A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor,
New York, NY 10022, or by telephone at (212) 624-2060, or by email
at prospectus@allianceg.com. Before investing in this offering,
interested parties should read in their entirety the prospectus
supplement and the accompanying prospectus and the other documents
that the Company has filed with the SEC that are incorporated by
reference in such prospectus supplement and the accompanying
prospectus, which provide more information about the Company and
such offering.
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.
About Genprex, Inc.
Genprex, Inc. 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. The
Company’s lead product candidate, REQORSA™ (quaratusugene
ozeplasmid), is being evaluated as a treatment for non-small cell
lung cancer (NSCLC). REQORSA has a multimodal mechanism of action
that has been shown to interrupt cell signaling pathways that cause
replication and proliferation of cancer cells; re-establish
pathways for apoptosis, or programmed cell death, in cancer cells;
and modulate the immune response against cancer cells. REQORSA has
also been shown to block mechanisms that create drug resistance. In
January 2020, the U.S. Food and Drug Administration granted Fast
Track Designation for REQORSA for NSCLC in combination therapy with
osimertinib (AstraZeneca’s Tagrisso®) for patients with EFGR
mutations whose tumors progressed after treatment with osimertinib
alone.
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, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and Private Securities Litigation Reform Act, as amended,
including those relating to the timing and completion of the
proposed 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, 2019, its Quarterly Reports on Form 10-Q, and its
Current Reports on Form 8-K filed in 2020, 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.
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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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