LCID - Genprex (GNPX) Stock Moves on Promising Diabetes Treatment Data
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Genprex (NASDAQ:GNPX) stock is on the move Thursday after providing an update on a study of its diabetes treatment.
That positive news comes from a trial of gene therapy for the treatment of Type 1 diabetes. The trial wasn’t conducted in humans and instead primates were used. What the company found was that its gene therapy reduced the need for insulin.
To go along with that, the company notes that its research showed insulin and glucagon staining. That’s important to note as it implies the creation of insulin-producing cells in the primates.
Rodney Varner, president and CEO of Genprex, said the following about the study news.
“These promising data are very encouraging and further support our belief that this gene therapy approach to treating diabetes has the potential to change the course of the disease in both Type 1 and Type 2 diabetes.”
Investors will also note that GNPX intends to host a presentation with more details about the study. That will take place on February 25th at 8:25 a.m. Eastern Time in Berlin, Germany.
How This Affects GNPX Stock
The recent clinical trial news resulted in a boost to GNPX stock alongside heavy trading this morning. That came from some 5 million shares changing hands as of this writing. For comparison, the company’s daily average trading volume is about 198,000 shares.
Unfortunately, GNPX stock couldn’t maintain that positive momentum and is down 1.2% as of Thursday morning.
Investors seeking more of the latest stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market news traders need to know about on Thursday! A few examples include why shares of Lucid Motors (NASDAQ:LCID), Nikola (NASDAQ:NKLA), and Cyren (NASDAQ:CYRN) stock are moving today. You can learn all about these matters at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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