Genprex regains Nasdaq compliance with bid price rule

Genprex (NASDAQ:GNPX), Inc., a pharmaceutical company based in Austin, Texas, announced today that it has regained compliance with Nasdaq's minimum bid price requirement, closing a previously reported non-compliance issue.

According to the letter from Nasdaq's Listing Qualifications Department received on Monday (NASDAQ:MNDY), Genprex's common stock has achieved the necessary minimum bid price, thus meeting the continued listing standards on the Nasdaq Capital Market.

This positive development follows a notice of non-compliance received from Nasdaq on September 26, 2024, which indicated that Genprex's stock had not maintained the $1.00 minimum bid price for 30 consecutive business days as required by Nasdaq Listing Rule 5550(a)(2). The company's successful return to compliance has resolved this matter.

Genprex, identified by the ticker symbol NASDAQ:GNPX, is classified under the pharmaceutical preparations industry with a standard industrial classification code of 2834. The company, incorporated in Delaware, operates under the organization name 03 Life Sciences, and has its fiscal year end on December 31.

This update is based on a press release statement and provides investors with the latest regulatory standing of Genprex on the Nasdaq Capital Market.

In other recent news, Genprex, Inc. has reported positive preclinical results for its Reqorsa® Gene Therapy, currently being tested for its potential in treating various forms of cancer resistant to other therapies. The company has also filed two provisional patent applications related to the use of Reqorsa in treating mesothelioma and glioblastoma.

Genprex, Inc. has collaborated with the University of Michigan Rogel Cancer Center and the non-profit group ALK Positive to study potential treatments for ALK-EML4 positive translocated lung cancer. The company's Acclaim-1 and Acclaim-3 clinical trials for lung cancer treatments have shown promising results with prolonged progression-free survival in two patients and partial remission in the first treated patient.

The analyst firm H.C. Wainwright has initiated coverage of Genprex's stock with a Buy rating. In a strategic move, Genprex has announced plans to spin off its diabetes gene therapy program into a new subsidiary, NewCo, to focus on the development of GPX-002, a gene therapy drug candidate for Type 1 and Type 2 diabetes.

These are some of the recent developments at Genprex, Inc. in its ongoing commitment to advancing gene therapies for large patient populations with limited treatment options.

InvestingPro Insights

Genprex's recent compliance with Nasdaq's minimum bid price requirement comes amid a period of significant stock price volatility. According to InvestingPro data, the company's stock has experienced a remarkable 476.16% return over the past month, despite a 17.21% decline in the last week. This volatility aligns with an InvestingPro Tip indicating that GNPX stock generally trades with high price volatility.

While the company has regained compliance, it's worth noting that Genprex faces financial challenges. An InvestingPro Tip reveals that the company was not profitable over the last twelve months, with an adjusted operating income of -$26.29 million. Additionally, analysts do not anticipate the company will be profitable this year.

For investors seeking a more comprehensive analysis, InvestingPro offers 8 additional tips for GNPX, providing a deeper understanding of the company's financial position and market performance.

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