Genprex Inc (NASDAQ:GNPX) announced an $8 million offering of stock through securities purchase agreements made with influential investors.
The gene therapy company sold 7.6 million shares at a price of $1.05 per share, in accordance with Nasdaq rules governing registered direct offerings.
READ: Genprex wins FDA Fast Track status for its Oncoprex therapy in combination with AstraZeneca's Tagrisso
Genprex, based in Austin, Texas and Cambridge, Massachusetts, plans to use the proceeds to advance its clinical programs in non-small cell lung cancer, as well as for working capital and general corporate purposes.
The company is developing a new approach to treating cancer, including its initial product candidate Oncoprex, which is an immunogene therapy for non-small cell lung cancer.
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