GNPX - InvestorNewsBreaks - Genprex Inc. (NASDAQ: GNPX) to Implement 1-for-40 Reverse Stock Split
Genprex (NASDAQ: GNPX), a clinical-stage gene therapy company focused on developing life-changing treatments for patients with cancer and diabetes, today announced that on Feb. 2, 2024, the company will implement a 1-for-40 reverse split of its issued and outstanding common stock, par value $0.001 per share. The company’s board of directors approved the reverse stock split upon the authorization granted by the stockholders at the special meeting held on Dec. 14, 2023. The reverse stock split will be effective as of 12:01 a.m. Eastern Time on Feb. 2, 2024, and, on that date, Genprex’s common stock will trade on a post-split adjusted basis at the beginning of trading under the existing symbol GNPX. The CUSIP number for the company’s common stock following the reverse stock split will be 372446-203.
To view the full press release, visit https://ibn.fm/5cLXr
About Genprex Inc.
Genprex 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. Genprex’s oncology program utilizes its systemic, non-viral ONCOPREX(R) Nanoparticle Delivery System, which encapsulates the gene-expressing plasmids using lipid nanoparticles. The resultant product is administered intravenously, where it is taken up by tumor cells that then express tumor suppressor proteins that were deficient in the tumor. The company’s lead product candidate, Reqorsa(R) Immunogene Therapy (quaratusugene ozeplasmid), is being evaluated in three clinical trials as a treatment for non-small cell lung cancer (“NSCLC”) and small cell lung cancer (“SCLC”). Each of Genprex’s three lung cancer clinical programs has received a Fast Track Designation from the FDA for the treatment of that patient population, and its SCLC program has received an FDA Orphan Drug Designation. Genprex’s diabetes gene therapy approach is comprised of a novel infusion process that uses an AAV vector to deliver Pdx1 and MafA genes directly to the pancreas. In models of type 1 diabetes, GPX-002 transforms alpha cells in the pancreas into functional beta-like cells, which can produce insulin but may be distinct enough from beta cells to evade the body’s immune system. In a similar approach, GPX-003 for type 2 diabetes, where autoimmunity is not at play, is believed to rejuvenate and replenish exhausted beta cells. For more information, visit the company’s website at www.Genprex.com.
NOTE TO INVESTORS: The latest news and updates relating to GNPX are available in the company’s newsroom at http://ibn.fm/GNPX
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