Genprex, Inc. Prices $17,500,000 Common Stock Offering Priced At-The-Market and Without Warrants
February 19 2020 - 9:23AM
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 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.
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”)
and an additional registration statement on Form S-3 filed pursuant
to Rule 462(b) under the Securities Act 1933, as amended, filed
with 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 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.
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 and include
statements regarding the intended use of proceeds and completion of
the offering. 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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