Genprex, Inc. Commences Initial Public Offering And Sets Price
AUSTIN, Texas, Oct. 13, 2017 /PRNewswire/ -- Genprex, Inc., ("Genprex") a clinical stage gene therapy company, today announced that its initial public offering of a minimum of 2.5 million shares and a maximum of 4.5 million shares of its common stock has priced at $5.00 per share.
Genprex expects the offering to close on or about November 6, 2017, subject to completion of the minimum offering and other customary closing conditions, and that its shares will begin trading on the NASDAQ Capital Market under the symbol "GNPX" shortly after closing.
Genprex intends to use the net proceeds from this offering together with its existing cash resources for the following purposes:
- Complete the ongoing Phase II clinical trial of the combination of Oncoprex with erlotinib;
- Commence a Phase I/II clinical trial of Oncoprex in combination with an immunotherapy;
- Conduct preclinical research, including biomarker studies;
- Prepare filings with the FDA;
- Working capital and general corporate purposes which may include funding new research and development activities, hiring additional personnel, capital expenditures and the costs of operating as a public company.
Network 1 Financial Securities, Inc. is acting as the underwriter for the offering.
Genprex's registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell, or a solicitation of an offer to buy, the securities described herein, 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 such state or jurisdiction.
The offering of the securities is made only by means of a prospectus forming a part of the effective registration statement. A copy of the prospectus relating to the offering may be obtained by contacting Network 1 Financial Securities, Inc., The Galleria, 2 Bridge Avenue, Building 2, Suite 241, Red Bank, NJ 07701, or by calling toll-free 1-800-886-7007, or by email to Alice McKeon at [email protected], or via the website at https://genprex.network1.com/.
About Genprex, Inc.
Genprex, Inc. is a clinical stage gene therapy company developing a new approach to treating cancer, based upon a novel proprietary technology platform, including Genprex's initial product candidate, Oncoprex™ immunogene therapy for non-small cell lung cancer (NSCLC). 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. Oncoprex 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.
Forward-Looking Statements
This press release contains forward-looking statements, including statements concerning Genprex's proposed offering of securities. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "intends", "may", "will", "should", "expects", "plans", "anticipates", "could", "target", "projects", "contemplates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. The consummation of the proposed securities offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Genprex, including, without limitation, market conditions, failure of closing conditions and risks and other matters set forth in the documents filed by Genprex with the Securities and Exchange Commission. You should not place undue reliance upon forward-looking statements as predictions of future events. Genprex has based the forward-looking statements contained in this press release on its current expectations and projections about future events and trends that it believes may affect its business, financial condition, results of operations and prospects. Genprex cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Genprex undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Contact:
James Heins
ICR, Inc.
203-682-8251
[email protected]
Stephanie Carrington
ICR, Inc.
646-277-1282
[email protected]
SOURCE Genprex, Inc.
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