H.C. Wainwright starts Genprex stock at Buy on cancer gene therapy
Investing.com | Editor Emilio Ghigini
Published Mar 25, 2024 07:20AM ET
On Monday, Genprex Inc. stock (NASDAQ:GNPX), a clinical-stage gene therapy company, received a positive assessment from H.C. Wainwright, initiating coverage with a Buy rating and setting a price target of $10.00 per share. Genprex's primary focus is the development of therapeutic candidates for non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC).
The company's lead candidate, Reqorsa (quaratusugene ozeplasmid), is a plasmid-based therapy that delivers a tumor suppressor gene, TUSC2. This treatment utilizes Genprex's non-viral Oncoprex nanoparticle delivery system to administer the gene intravenously, aiming to disrupt cancer cell signaling pathways, promote apoptosis, and modulate the immune response against cancer cells.
Reqorsa has been noted for its potential to enhance the efficacy of existing targeted drugs and immunotherapies. It is currently being evaluated in three clinical trials. The Acclaim-1 trial is testing Reqorsa in combination with Tagrisso for late-stage NSCLC patients with specific EGFR mutations, following progression after Tagrisso treatment.
The Acclaim-2 trial is pairing Reqorsa with Keytruda for late-stage NSCLC patients whose disease has progressed after Keytruda treatment. Lastly, the Acclaim-3 trial involves Reqorsa and Tecentriq as maintenance therapy for patients with extensive stage SCLC.
The phase 2 expansion portion of the Acclaim-1 trial has begun patient dosing. The phase 1 dose escalation portion of Acclaim-2 is anticipated to complete enrollment in the second half of 2024, while the phase 1 dose escalation portion of Acclaim-3 is currently open for enrollment.
The $10.00 price target set by H.C. Wainwright reflects a 12-month projection for Genprex's stock. The initiation of coverage and the optimistic price target underscore the potential seen in Genprex's gene therapy approach to treating lung cancer.
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