AUSTIN, Texas - Genprex , Inc. (NASDAQ: NASDAQ:GNPX), a clinical-stage gene therapy company, has been granted a new patent by the Singapore Patent Office for its lead drug candidate, Reqorsa® Gene Therapy, when used in conjunction with anti-PD-1 antibodies, extending protection through 2037.
This recent patent award bolsters the company's intellectual property rights beyond the existing patents it holds in multiple countries, including the U.S., Japan, and China, for the combination use of REQORSA with immune checkpoint inhibitors.
Senior VP of Intellectual Property and Licensing at Genprex, Thomas Gallagher, Esq., emphasized the significance of this patent for the company's strategic positioning in Asia, particularly due to the high prevalence of lung cancer in the region. According to GLOBOCAN, Asia accounted for 63% of global new lung cancer cases in 2022, highlighting the importance of this market for Genprex's therapies.
The Acclaim-3 clinical trial, which combines REQORSA with Genentech's Tecentriq®, is currently in Phase 1/2 as a maintenance therapy for small cell lung cancer patients who have experienced tumor progression after initial treatment.
Genprex's broader mission involves developing gene therapies for large patient populations with cancer and diabetes who have limited treatment options. Its oncology program employs the Oncoprex® Delivery System to administer genes that produce tumor-suppressing proteins.
While the company encourages investors and shareholders to follow its progress through various communication channels, caution is advised regarding forward-looking statements.
Genprex, Inc. has experienced significant changes in leadership and corporate governance. Ryan M. Confer has been confirmed as President, CEO, and CFO, while Catherine Vaczy's employment as Executive VP has been terminated. Brent M. Longnecker was elected as a Class I director and WithumSmith+Brown, PC was ratified as the independent registered public accounting firm.
On the clinical front, Genprex reported positive preclinical data for its Reqorsa® Immunogene Therapy and NPRL2 gene therapy. The company has also expanded its Acclaim-3 clinical trial sites to accelerate patient enrollment and provide broader access to its Reqorsa® Immunogene Therapy for treating extensive-stage small cell lung cancer.
In terms of analyst coverage, H.C. Wainwright initiated coverage of Genprex's stock with a Buy rating, signaling a positive outlook for the company's gene therapy approach to treating lung cancer.
Furthermore, Jose A. Moreno Toscano has been named the non-executive Chairman of the Board, following the unexpected death of co-founder and former Chairman Rodney Varner.
InvestingPro Insights
Amidst the strategic advancements in Genprex's intellectual property portfolio, the company's financial standing presents a mixed picture according to recent metrics from InvestingPro. With a market capitalization of just $3.26 million, Genprex is considered a small-cap company, which can often mean higher volatility and risk for investors. The company's financial health is reflected in its price-to-book ratio, which stands at a modest 0.75 as of the last twelve months leading up to Q2 2024. This suggests that the company's market valuation is relatively close to its net asset value, which can be a sign of undervaluation.
However, the road to profitability appears challenging, as evidenced by the company's operating income, which shows a significant loss of $26.29 million in the same period. This financial strain is further highlighted by the stock's performance, with a steep year-to-date price total return of -86.3%, indicating a tough period for the company's shareholders. The price of Genprex's stock has also been trading near its 52-week low, currently at approximately 5% of its 52-week high, which could signal a potential entry point for investors if they believe in the company's long-term prospects.
InvestingPro Tips provide additional context to the company's financials, noting that Genprex holds more cash than debt on its balance sheet, which is a positive indicator of financial stability. On the flip side, the RSI suggests that the stock is in oversold territory, potentially indicating a buying opportunity for contrarian investors. For those considering a deeper dive into Genprex's stock, there are 11 additional InvestingPro Tips available, offering a comprehensive analysis that could guide investment decisions.
For more detailed analysis and additional InvestingPro Tips on Genprex, interested parties can visit https://www.investing.com/pro/GNPX.
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