Genprex Closes $25.5 million Offerings Successfully
The biotech sector has been one of the better stock market performers for some time now, and the trend continued in 2020 as well so far. One of the biotech stocks that deserve attention at this point is that of Genprex Inc (NASDAQ: GNPX), which has emerged as the biggest biotech stock gainer since January 17.
During the period, the stock has managed to gain as much as 1500% on the back of favorable developments. Hence, it is perhaps important for investors to have a look at the latest developments at Genprex. The Austin based firm announced that it raised as much as $25.5 million by way of two separate stock offerings.
The company revealed back in January that it has managed to raise as much as $8 million by selling around 7.62 million shares. Last week, Genprex Inc (NASDAQ: GNPX) announced that it raised a further $17.5 million by selling 5 million common shares. The proceeds are meant to finance further growth.
Biggest Biotech Stock Gainer: Genprex Inc (NASDAQ: GNPX)
However, that is not the only development that went into making Genprex Inc (NASDAQ: GNPX) the biggest biotech stock gainer. Earlier on in February, the company announced that it received a notification from NASDAQ that revealed that the Genprex stock had regained compliance with a listing rule.
The rule was with regard to the minimum bid price of the stock. The stock would continue to be listed on the exchange, and it might have led to fresh optimism about the stock. However, the biggest trigger that started the Genprex stock to become the biggest biotech stock gainer came about back on January 22. T
Genprex Inc (NASDAQ: GNPX)announced that the United States Food and Drug Administration granted its experimental cancer treatment a fast track designation. It is a significant development for the company since it indicates that the product in question is promising, and consequently, it led to a lot of optimism about the stock in the market. It goes without saying that investors could keep an eye on the stock at this point.
Source: Stock Market Press
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