AUSTIN, Texas - Genprex , Inc. (NASDAQ: NASDAQ:GNPX), a gene therapy company, announced today the establishment of a Mesothelioma Clinical Advisory Board. The board consists of four renowned researchers specializing in mesothelioma treatment, supporting the company's preclinical oncology program targeting this form of cancer.
The advisory board's formation is part of Genprex's strategy to advance its Reqorsa® Gene Therapy program. Ryan Confer, the CEO of Genprex, expressed his optimism about the board's potential to enhance the company's research efforts in treating mesothelioma, a cancer with limited treatment options.
Mesothelioma affects the thin tissue lining of internal organs and is predominantly diagnosed in the tissue surrounding the lungs. According to the Center for Disease Control, there are about 3,000 new cases annually in the U.S., with a life expectancy of 18 months after diagnosis.
Genprex's Reqorsa® Gene Therapy involves the TUSC2 gene encapsulated in non-viral lipid-based nanoparticles, designed to be administered intravenously and target cancer cells. Upcoming positive preclinical data on TUSC2, essential in Reqorsa's mechanism, will be presented next month at a symposium on molecular targets and cancer therapeutics.
The company's broader strategy includes developing Reqorsa in combination with approved therapies, potentially improving treatment for patients with non-small cell lung cancer (NSCLC), small-cell lung cancer (SCLC), and other cancers. Genprex's programs for NSCLC and SCLC have received Fast Track Designation from the FDA, and the SCLC program has an FDA Orphan Drug Designation.
This news is based on a press release statement from Genprex, Inc. and does not include any speculative information. It focuses on the formation of the advisory board and the ongoing development of the company's gene therapy program to address mesothelioma and other cancers.
In other recent news, Genprex, Inc. has announced plans to spin off its diabetes gene therapy program into a new subsidiary, termed NewCo, to further focus on the development of GPX-002, a gene therapy drug candidate for Type 1 and Type 2 diabetes. The proposed spin-out is expected to be completed by the end of 2024. Genprex also reported progress in its Acclaim-1 and Acclaim-3 lung cancer gene therapy trials, which include prolonged progression-free survival in two Acclaim-1 patients and partial remission in the first treated Acclaim-3 patient. A new patent for its lead drug candidate, Reqorsa® Gene Therapy, was secured from the Singapore Patent Office, strengthening the company's strategic positioning.
In addition, analyst firm H.C. Wainwright initiated coverage of Genprex's stock with a Buy rating. The company also confirmed leadership changes, with Ryan M. Confer now serving as President, CEO, and CFO, and Brent M. Longnecker elected as a Class I director. These developments reflect Genprex's ongoing efforts to advance its pharmaceutical preparations in the biotechnology sector, demonstrating the company's commitment to developing gene therapies for large patient populations with limited treatment options.
InvestingPro Insights
As Genprex, Inc. (NASDAQ: GNPX) forges ahead in its mission to revolutionize mesothelioma treatment, the financial metrics provided by InvestingPro offer a snapshot of the company's market position. With a modest market capitalization of $1.33 million, Genprex's financial landscape is characterized by a significant operating loss, reflected in the last twelve months as of Q2 2024, with an operating income of -$26.29 million and an EBITDA of -$26.28 million.
The company's stock price has experienced a sharp decline over recent periods, with a one-week total return of -15.12% and even more pronounced drops over longer time frames, including a one-year total return of -97.98%. This volatility is echoed in an InvestingPro Tip highlighting that the stock price often moves in the opposite direction of the market, suggesting that investors may be dealing with a high-risk profile.
Another InvestingPro Tip indicates that Genprex holds more cash than debt on its balance sheet, which could provide the company with a buffer to navigate its challenging financial performance and support its research and development endeavors. Despite the current financial headwinds, this liquidity could be a critical factor in sustaining the company's operations as it continues to develop its gene therapy programs.
For those considering an investment in Genprex, it's worth noting that the company's stock is currently in oversold territory according to the Relative Strength Index (RSI), a technical indicator that may suggest potential for a rebound. Furthermore, for a comprehensive analysis, there are additional InvestingPro Tips available, which could provide deeper insights into Genprex's financial health and stock performance.
InvestingPro offers a total of 12 additional tips on Genprex, Inc., which can be found at https://www.investing.com/pro/GNPX, offering valuable information for investors looking to make an informed decision regarding the company's prospects.
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