Genprex Inc. (GNPX) Prices 2.5M-4M Share IPO at $5/Sh
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Genprex, Inc., (NASDAQ: GNPX) a clinical stage gene therapy company, today announced that its initial public offering of a minimum of 2.5 million shares and a maximum of 4.5 million shares of its common stock has priced at $5.00 per share.
Genprex expects the offering to close on or about November 6, 2017, subject to completion of the minimum offering and other customary closing conditions, and that its shares will begin trading on the NASDAQ Capital Market under the symbol "GNPX" shortly after closing.
Genprex intends to use the net proceeds from this offering together with its existing cash resources for the following purposes:
- Complete the ongoing Phase II clinical trial of the combination of Oncoprex with erlotinib;
- Commence a Phase I/II clinical trial of Oncoprex in combination with an immunotherapy;
- Conduct preclinical research, including biomarker studies;
- Prepare filings with the FDA;
- Working capital and general corporate purposes which may include funding new research and development activities, hiring additional personnel, capital expenditures and the costs of operating as a public company.
Network 1 Financial Securities, Inc. is acting as the underwriter for the offering.
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