Genprex (GNPX) Completes Scale-up of REQORSA™ Manufacturing at a CDMO
Good day everyone,
We are continuing our coverage of Genprex, Inc. (NASDAQ: GNPX), a clinical stage gene therapy company involved in developing various approaches to treating cancer and diabetes.
Current price $4.47 per share
GNPX opened Tuesday’s session at $4.10 per share, hitting a high for the day of $5.45. Since our initial alert Monday at $3.50/share, GNPX has gained 27.7%.
On Monday we pointed out that Genprex has some things in common with our last week’s alert Vuzix. Both have been trending and have broken through their 50 DMA and 200 DMA in a bullish manner. Their Simple Moving Averages, at all levels, are green. Both companies have similar share structures and significant levels of insider and institutional ownership.
We alerted Vuzix on December 15, and in only six trading sessions VUZI shares went from $4.84/share to yesterday’s close of $10.60, gaining 119%.
Genprex keeps delivering good news:
We told you that the company was moving its REQORSA production from the lab it was created in, to a commercial Contract Development and Manufacturing Organization.
For the first time, REQORSA was manufactured in a scaled-up clinical production in accordance with the current Good Manufacturing Practices required by the FDA in advance of commercial approval of a drug product.
The new level of production will facilitate the REQORSA need for the Acclaim-1 and Acclaim-2 clinical trials that combine REQORSA with Tagrisso® (AstraZeneca) and with Keytruda® (Merck & Co., Inc.).
Consider this statement by Michael Redman, Executive Vice President and Chief Operating Officer of Genprex. “This achievement positions Genprex with the manufacturing capability for potential future commercialization in the rapidly growing lung cancer therapeutics market, which is projected to grow to $26.3 billion by 2023.”
These two clinical trials have the potential to confirm REQORSA and ONCOPREX as viable cancer fighting therapies. Beyond that goal, if either Acclaim trial is successful in increasing the efficacy of Tagrisso or Keytruda, there is the potential for an exit to either Astra Zeneca (market cap $128B) or Merck (market cap $200B).
It’s crucial to repeat these considerations for GNPX interest:
Low float (est.) 32.48M shares
Trending shares (see chart)
Proprietary technology and recent milestones
Current price is still 36% off 52-week high
Share price has broken through DMA levels in a bullish manner
No other company has technology like GNPX.
The M.D. Anderson Cancer Center is a respected oncology research center, known all over the world. When they license a discovery (REQORSA, ONCOPREX to Genprex), there is an almost certain chance it’s viable science with market potential.
We believe the success of GNPX is still in its infancy and there are exciting milestones to come in the near term. Wouldn’t it be great if this is the one that cures cancer?
Stay safe and be ready for a possible new report after the long Holiday weekend,
The Traders News Group
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