Update- Genprex (NASDAQ: GNPX), Breaking news this morning:
Genprex Enters Into Exclusive Worldwide Patent and Technology License Agreement for Combination of its TUSC2 Gene Therapy with Immunotherapies
Read this breaking news here: https://www.businesswire.com/news/home/20200505005133/en/Genprex-Enters-Exclusive-Worldwide-Patent-Technology-License
Plethora of potential near-term catalysts
Good day everyone,
We are continuing our coverage of Genprex, Inc. (NASDAQ: GNPX), a late stage gene therapy company involved in developing various approaches to treating cancer, currently focused on non-small cell lung cancer, and autoimmune therapy currently focused on diabetes. GNPX has a proprietary technology platform designed to deliver tumor suppressor genes to cancer cells.
Current price $2.31 per share
We believe the current share price could gain appreciably in the near-term and represents a price that indicates oversold shares.
Genprex, in a letter to shareholders, has updated the company’s progress and recent milestones. The news is good.
We want to reiterate the highlights, as well as provide this link to the full shareholder update: https://www.genprex.com/downloads/april-2020-shareholder-letter.pdf
Lead Drug Candidate Oncoprex
The company’s lead product, Oncoprex (contains the TUSC2 gene) has been designated for fast track and being recognized throughout the gene therapy sector.
Preparing for a phase 1/2 trial in combination with the successful Astra Zeneca drug Tagrisso.
Preparing to file an NDA in combination with the Merck drug Keytruda.
Continuing the collaboration with the MD Anderson Cancer Center and others to seek new cancer indications beyond non-small cell lung cancer, that may be able to benefit from utilizing the TUSC2 gene.
More production of Oncoprex and the lipid nanoparticles used for Oncoprex delivery into the body.
Gen-002, newly licensed diabetes gene therapy
This gene was licensed from the University of Pittsburgh in February of this year. GNPX believes this gene therapy could work for both Type 1 and Type 2 diabetes. The company’s pending phase 1 clinical trial may be the first trial using gene therapy to treat diabetes.
The proposed therapy could reprogram pancreatic cells to restore normal blood glucose levels eliminating the need for insulin therapy.
The $25 million raised by the company through institutional investors is anticipated to satisfy the GNPX cash needs for up to 2 years.
A few reasons why we believe the current GNPX share price could be a value:
The company market cap is significantly below its peers.
GNPX just raised $25 million by selling shares to institutional investors at market with no warrants attached.
The company shares are trading at 67% off their high from just 9 weeks ago.
On April 22, 2020, Alliance Global Partners issued a “buy” rating on the company shares.
The gene therapy market is projected to grow at a CAGR of 32%.
As you can see there are a plethora of potential near-term catalyst that could positively move both Genprex shares and or this entire sector.
The Traders News Group
original reports below
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Good morning everyone,
GNPX off to a good start this week.
News out – Shareholder update
Highlight from this update Fast Track designation for a potentially curative gene therapy candidate for both Type 1 and Type 2 diabetes.
Full shareholder letter available here- https://www.genprex.com/downloads/april-2020-shareholder-letter.pdf
We will have more on this in our updated coverage soon.
The Traders News Group
This week’s original report below
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GNPX Shares May Indicate Value in the Gene Therapy Sector
Collab with MD Anderson & Fast Track Designation
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, currently focused on non-small cell lung cancer, and autoimmune therapy currently focused on diabetes. GNPX has a proprietary technology platform designed to deliver tumor suppressor genes to cancer cells.
Current price $2.27 per share
Shares Outstanding 32.85M
Float 19.47M
% Held by Insiders 23.00%
% Held by Institutions 12.72%
We alerted these shares to you on January 21, 2019 at $.36 per share but the company released big news that morning that prompted the shares to open at $1.20. Within a day, GNPX hit $2.00 per share (+ 66%) and within a month GNPX shares were up to $7.03 (+585%) per share.
GNPX shares experienced a rapid rise in January-February, rising from $.36 per share to a high of $7.03. That rapid rise in the GNPX share price resulted in some profit taking, as well it should, bringing the shares to today’s consolidated price of $2.27.
We think the current price of $2.27 could represent a value in shares that have been oversold and could yield our members gains once again. Below are the many reasons we think that may happen.
Since we last reported to you in February, GNPX has added some experienced pros to the company:
Catherine M. Vaczy as Executive Vice President and Chief Strategy Officer
Michael T. Redman as Executive Vice President and Chief Operating Officer.
Shannon Inman as Vice President of Global Clinical Operations.
The company has also appointed 3 new members to it board.
These appointments follow on the heels of the Company’s Fast Track Designation for its lead drug candidate, its newly licensed gene therapy for diabetes and capital raise of over $26 million that will support funding its clinical programs.
GNPX has a need to grow their staff with the people we mentioned above, as they anticipate growth in the company, advanced clinical trials and a need for their experience to facilitate that anticipated growth and/or an exit.
GNPX has three potential verticals in its pipeline including genetic therapy for non-small cell lung cancer and gene therapy for diabetes (type 1 AND type 2). The company also has a proprietary nanoparticle delivery system. There is more on these products in the “about” section at the bottom of this newsletter.
Many of the outstanding shares (35%) are held by insiders and institutions. Insiders with a vested interest in the company and institutions with professionals in biotech investments.
The gene therapy market is projected to grow at a CAGR of 32%. That is a remarkable growth rate. It is one of the hottest sectors in the biotech industry and is experiencing high levels of consolidation.
Genprex has a current market cap of $73 million. Compare that to similar companies:
UniQure (NASDAQ: QURE) $2.65B
Oxford Biomedica (OTC: OXBDF) $694M
Turning Point Therapeutics (NASDAQ: TPTX) $1.85B
Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) $4.08B
NextCure, Inc. (NASDAQ: NXTC) $892M
Those five companies, like GNPX, are development stage gene therapy companies with virtually no revenues, yet they have some lofty market caps.
The big pharma companies are scrambling to grow their oncology and gene therapy business. In the past year we have seen multi-billion-dollar gene therapy acquisitions by Roche, Glaxco, Eli Lily, Pfizer and others in those sectors.
We believe the consolidation in the gene therapy sector could be contributing to the market cap levels for these companies and expect the same may happen with the GNPX market cap in the near term. We note that GNPX is involved in clinical studies of their gene therapy products in combination with products from Roche ($290B MC), Merck ($196B MC) and Astra Zeneca ($135B MC). Could GNPX genetic therapy for diabetes attract a large cap company collaboration?
On April 22, 2020, Alliance Global Partners issued a “buy” rating on the company shares.
GNPX reports (MRQ) $510K of current liabilities and no long-term debt is indicated.
GNPX shares are leading their SMA 20 levels indicating the shares may be trending. Another break past the 50 DMA of $2.89 could project these shares even higher.
GNPX stock chart: https://stockcharts.com/h-sc/ui?s=gnpx
We will be back with more soon,
The Traders News Group
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