AUSTIN, Texas - Genprex , Inc. (NASDAQ: NASDAQ:GNPX), a clinical-stage gene therapy company, has announced the appointment of Jose A. Moreno Toscano as non-executive Chairman of the Board. This decision follows the unexpected death of co-founder and former Chairman Rodney Varner. Moreno Toscano, who has been a member of Genprex's Board since March 2020, brings over two decades of experience in the pharmaceutical and biotech sectors to his new role.
Moreno Toscano currently serves as CEO of LFB USA Inc, a subsidiary of the global biopharmaceutical company LFB Group. His background includes roles in strategic planning, corporate restructuring, and business development. The new Chairman is recognized for his ability to drive revenue growth and market expansion, as well as revitalize operations and lay foundations for start-up success.
This appointment comes shortly after Ryan Confer was named President and CEO of Genprex and added to the company's Board of Directors. Moreno Toscano expressed his support for Confer, highlighting his leadership and contributions to the company's operational and financial foundation, as well as his role in advancing the company's strategies.
Genprex is dedicated to developing therapies for cancer and diabetes patients with limited treatment options. The company's Oncoprex® Delivery System is used in its oncology program, while its diabetes gene therapy involves a novel infusion process delivering genes directly to the pancreas.
The company's lead product candidate, Reqorsa® Immunogene Therapy, is undergoing clinical trials for non-small cell lung cancer (NSCLC) and small cell lung cancer (SCLC), with Fast Track Designation from the FDA for these indications. Additionally, Genprex's SCLC program has received an FDA Orphan Drug Designation.
Investors and shareholders have been encouraged to follow Genprex's progress through the company's communications channels. The information for this article is based on a press release statement.
InvestingPro Insights
As Genprex, Inc. (NASDAQ: GNPX) continues to navigate the challenges of the biotech sector under new leadership, its financial health and market performance remain critical areas for investor scrutiny. According to InvestingPro data, Genprex holds a market capitalization of $4.87 million USD, reflecting the current valuation of the company in the market. Despite the strategic appointments and advancements in its clinical programs, Genprex's stock has experienced significant volatility, with a one-year price total return of -92.93%, indicating a substantial decline in its stock value over the past year.
An InvestingPro Tip highlights that Genprex holds more cash than debt on its balance sheet, which could be a sign of financial stability in the short term. However, the company's P/E Ratio (Adjusted) for the last twelve months as of Q4 2023 stands at -0.16, suggesting that investors are wary of its earnings potential. Additionally, Genprex does not pay a dividend to shareholders, which may influence investment decisions for those seeking regular income from their stock holdings.
With the stock price facing a downward trend, Genprex's liquid assets exceeding short-term obligations may offer some reassurance to investors concerned about the company's ability to meet its immediate financial commitments. For investors seeking deeper insights, InvestingPro offers additional tips on Genprex's financial metrics and market performance. To explore these further, interested parties can visit https://www.investing.com/pro/GNPX and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a total of 11 InvestingPro Tips that could help navigate investment decisions surrounding Genprex.
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