Genprex Added to Russell 3000® Index
AUSTIN, Texas — (June 29, 2020) — Genprex, Inc. (“Genprex” or the “Company”) (NASDAQ: GNPX), a clinical-stage gene therapy company developing potentially life-changing technologies for patients with cancer and diabetes, today announced that it was added to the Russell 3000® Index after the market closed on Friday, June 26, 2020 as part of the 2020 Russell U.S. Indexes reconstitution.
“Genprex is excited to be a member of the Russell 3000 Index, and we look forward to sharing our story and unique approaches for the treatment of lung cancer and diabetes with a wider group of investors,” said Rodney Varner, Chairman and Chief Executive Officer of Genprex. “We believe the Company’s future is bright as we work to secure better outcomes for patients suffering from these serious medical conditions.”
In January 2020, Genprex was awarded U.S. FDA Fast Track designation for use of GPX-001 (quaratusugene ozeplasmid) combined with Tagrisso® (osimertinib) for the treatment of non-small cell lung cancer (NSCLC) patients with EGFR mutations whose tumors progressed after treatment with Tagrisso alone. The Company also signed in early 2020 an exclusive license agreement with the University of Pittsburgh for a preclinical diabetes gene therapy candidate that has the potential to cure Type 1 and Type 2 diabetes. Earlier this year, the Company significantly strengthened its balance sheet through “at the market” capital raises without warrants, plus the exercise by investors of most outstanding Company warrants, aggregating approximately $28 million in proceeds to the Company. The funds will support the Company’s research and development programs and other corporate uses and initiatives, which could include strategic transactions.
The Russell 3000 Index includes the 3,000 publicly traded companies on the Nasdaq and NYSE exchanges with the largest market capitalizations. FTSE Russell, a leading global index provider, determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes (i.e. growth or value). Each June, the Russell 3000 index is reconstituted to reflect market capitalization changes over the prior year. This closely watched market event impacts more than $9 trillion in investor assets benchmarked to or invested in products based on the Russell U.S. indices.