Genprex, Inc. Releases Q3 10-Q Report Highlighting Clinical Progress and Financial Performance
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Genprex, Inc., a clinical-stage gene therapy company focused on developing life-changing therapies for patients with cancer and diabetes, has released its Form 10-Q report for the third quarter. The report provides a comprehensive overview of the company's financial performance and significant advancements in its clinical programs.
Financial Highlights
- Operating Loss: $(5,996,717). The operating loss decreased from the previous period due to reduced research and development expenses and general and administrative expenses.
- Net Loss: $(5,968,869). The net loss decreased by 35% compared to the same period last year, primarily due to lower operating expenses.
- Net Loss Per Share—basic and diluted: $(3.69). The net loss per share improved from $(7.44) in the previous year, reflecting a decrease in net loss and an increase in the weighted average number of shares.
Business Highlights
- Oncology Platform: Genprex is advancing its lead oncology drug candidate, Reqorsa® Immunogene Therapy, in combination with approved cancer drugs to treat Non-Small Cell Lung Cancer (NSCLC) and Small Cell Lung Cancer (SCLC). The therapy has shown promise in interrupting cancer cell signaling pathways and modulating immune responses.
- Acclaim-1 Clinical Trial: The Acclaim-1 trial is in the Phase 2a expansion portion, enrolling patients with late-stage NSCLC. The trial combines REQORSA with AstraZeneca’s Tagrisso® and has received Fast Track Designation from the FDA.
- Acclaim-2 Clinical Trial: Currently in the Phase 1 dose escalation portion, this trial combines REQORSA with Merck & Co.’s Keytruda® for NSCLC patients. The FDA has granted Fast Track Designation for this combination.
- Acclaim-3 Clinical Trial: This trial is enrolling patients in the Phase 1 dose escalation portion, using REQORSA with Genentech’s Tecentriq® as maintenance therapy for extensive stage SCLC. The FDA has granted Fast Track and Orphan Drug Designations.
- Diabetes Gene Therapy: Genprex is developing GPX-002 for Type 1 and Type 2 diabetes, using a novel approach involving an AAV vector to transform pancreatic cells. Preclinical studies are ongoing at the University of Pittsburgh.
- Future Outlook: Genprex plans to continue advancing its clinical trials and expand its research programs. The company anticipates completing certain trial phases by the end of 2024 and conducting interim analyses in early 2025.