Shares of the Genprex, Inc. (GNPX) stock were rising in the current market today on January 3, 2022. GNPX stock price saw a push of 24.88% to reach $1.63 a share at the time of this writing. The stock was also green in the previous trade and went up by 0.77% at closing. Let’s take a closer look at this stock to understand the current bull.
What’s Happening?
GNPX stock became bullish in the current market today after the company announced that it has received the Fast Track Designation for REQORSA™ Immunogene Therapy, in combination with Merck & Co’s Keytruda® from U.S Food and Drug Designation. This is the company’s lead candidate drug intended for patients suffering from histologically confirmed unresectable stage III or IV non-small cell lung cancer.
Genprex is anticipating the beginning of the Acclaim-2 clinical trial in the first quarter of 2022. The purpose of this trial is to evaluate the REQORSA in combination with Keytruda. The company previously also received the fast-track designation for the combination of REQORSA with AstraZeneca PLC’s Tagrisso®.
REQORSA showed synergy with Keytruda, according to the previous clinical data. The study of the data revealed that REQORSA was more effective when combined with Keytruda as compared to Keytruda alone in the mice survival.
New Appointments by GNPX stock
In September 2021, the company announced strategic appointments for strengthening its management team. The company appointed Mark S. Berger, M.D as the chief medical officer of the company, and Hemant Kumar, Ph.D., CPM, EMBA as the chief manufacturing and technology officer of the company. These appointments will help the company in its Acclaim-1 and Acclaim-2 clinical trials and expansion of technology pipelines.
Current Position of GNPX stock
Grant of Fast Track Designation is an important development of the Genprex company and shareholders of GNPX stock. This development will speed up the REQORSA’s clinical development. The company has not only expert clinical trial management but also a strong balance sheet to fund its operations. The management of the company is confident to advance Acclaim-1 and Acclaim-2 clinical trials in 2022.
Conclusion
GNPX stock is hot among investors so far following the recent announcement of Fast Track Designation. The company has enough cash in hand to finance its clinical trials in 2022. In a nutshell, investors should keep an eye on this stock.
