Breaking News: Genprex, Inc. (GNPX) Signs Exclusive License Agreement, Could Be Major Breakout Candidate
This Low Float Stock Has A $5.00 Analyst Price Target And Major Upside Potential
Past champ *Genprex, Inc. (GNPX)* could be on the verge of breaking out again. Here is what you need to know: breaking news this AM regarding the signing of an exclusive license agreement.
Genprex, Inc is a U.S.-based clinical-stage gene therapy company. It is engaged in developing a new approach to treating cancer based on its novel proprietary technology platform, including initial product candidate, Oncoprex immunogene therapy.
And, on January 21st of 2020, I brought this stock to your attention early that morning only to watch it make a 2 day run from an open of $1.20 to a high of $2.00 for a surge of 66.67%.
Now, fast-forward to today. I think there is potential that this stock could run again due to 4 major catalysts. Here they are:
#1 GNPX Catalyst - Recent FDA Fast Track News
Last month Genprex dropped a bombshell news release. Check it out:
Genprex Receives U.S. FDA Fast Track Designation for Gene Therapy that Targets Lung Cancer
Lung cancer is the world’s leading cause of cancer deaths
AUSTIN, Texas & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Genprex, Inc. (“Genprex” or the “Company”) (NASDAQ: GNPX), a clinical-stage gene therapy company utilizing a unique, non-viral proprietary platform designed to deliver tumor suppressor genes to cancer cells, today announced that the U.S Food and Drug Administration (FDA) has granted Fast Track Designation for Genprex’s Oncoprex™ immunogene therapy in combination with EGFR inhibitor osimertinib (AstraZeneca’s Tagrisso®, which had worldwide sales in 2018 of $1.86Bn, $2.31Bn in the first 9 months of 2019 and is currently AstraZeneca’s highest grossing product) for the treatment of non-small cell lung cancer (NSCLC) patients with EFGR mutations that progressed after treatment with osimertinib alone. Oncoprex is comprised of the TUSC2 (Tumor Suppressor Candidate 2) gene complexed with a lipid nanoparticle. TUSC2 is the active agent in Oncoprex.
Read the full article here.
#2 GNPX Catalyst - Analyst $5.00 Price Target
Cosme Ordonez, an analyst with Noble Capital Markets, is bullish on Genprex and has provided an Outperform rating on the Austin, Texas company as well as a $5 price target on the view that further trials with humans for its lead drug Oncoprex in combination with Erlotinib (Tarceva) in 2020 will advance its prospects for commercialization.
On top of this, the Noble team are hopeful about the start of human clinical trials this year that will assess the ability of Oncoprex, working together with Merck’s blockbuster cancer drug Keytruda, to curb the corrosive spread of lung cancer.
#3 GNPX Catalyst - Low Float Share Structure
According to Yahoo Finance, GNPX currently has an approximate 6.41Mn shares in its float.
As we've seen in previous stock profiles, a low float can lead to explosive price spiking in the short-term from volatility.
Biotech stocks are very sensitive to news. One major development -- such as a positive result from a clinical trial -- and share prices can take off in a hurry.
Could the next big news coming from the GNPX camp be the spark to send share prices flying???
#4 GNPX Catalyst - A Potential Channel Forming?
Since GNPX's initial eruption back in January, it has not dropped below $1.00 again.
That means that since the 21st, GNPX has been in a potential channel between $1.04-$2.00.
Check it out: