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Genprex , Inc. (NASDAQ:GNPX), a micro-cap company with a market capitalization of just $6.95 million, has announced its compliance with the Nasdaq Capital Market’s minimum stockholders’ equity requirement, as confirmed by a letter from Nasdaq’s Listing Qualifications Department. This development, reported on Friday, closes the issue that began with a notice in November 2024, when Genprex’s equity fell below the required $2.5 million. According to InvestingPro data, the company maintains a current ratio of 1.94, indicating adequate short-term liquidity.
The company, based in Austin, Texas, addressed the deficiency through its financial results for the quarter ending March 31, 2025, filed with the SEC on May 12. Genprex’s compliance with Nasdaq Listing Rule 5550(b)(1) was verified, allowing it to continue its listing on the exchange. InvestingPro analysis shows the stock has faced significant challenges, with a 72.61% decline over the past six months and currently trading at $0.29, well below its 52-week high of $3.97.
However, Genprex still faces another challenge. On February 7, 2025, Nasdaq notified the company of non-compliance with the minimum bid price requirement of $1.00 per share, as per Nasdaq Listing Rule 5550(a)(2). The company has until August 6, 2025, to meet this requirement. Genprex is monitoring its stock price and may consider a reverse stock split if necessary to regain compliance. Failure to meet the bid price requirement could lead to delisting, though Genprex would have the option to appeal such a decision.
This information is based on a recent SEC filing by Genprex.
In other recent news, Genprex, Inc. has made significant strides in its gene therapy initiatives. The company announced an exclusive patent license agreement with NYU Langone Health for Reqorsa® Gene Therapy, aimed at treating mesothelioma. This agreement follows positive preclinical data presented at a symposium, showing Reqorsa’s potential in reducing cell proliferation in mesothelioma. Additionally, Genprex’s research collaborators have published an abstract in the Cancer Research journal, highlighting promising preclinical data for Reqorsa in treating KRASG12C mutant non-small cell lung cancer (NSCLC). The study indicates that Reqorsa can overcome resistance to the drug Lumakras® in NSCLC models, showing significant antitumor efficacy. These developments underscore Genprex’s ongoing efforts to address unmet medical needs in lung cancer, with Reqorsa receiving Fast Track Designations from the FDA for NSCLC and small cell lung cancer (SCLC). The company is also preparing for a presentation at the 2025 AACR Annual Meeting, where further data on Reqorsa will be shared. These recent advancements reflect Genprex’s commitment to expanding its clinical development pipeline and exploring new therapeutic strategies for challenging cancers.
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