Genprex, Inc.

What they do

Genprex develops gene-based therapies using its systemic, non-viral ONCOPREX Delivery System, which uses lipid-based nanoparticles in lipoplex form to deliver tumor suppressor gene-expressing plasmids intravenously to cancer cells. Its lead oncology candidate, REQORSA Gene Therapy (quaratusugene ozeplasmid), is being developed in combination with approved cancer drugs for Non-Small Cell Lung Cancer and Small Cell Lung Cancer. The company also has diabetes technology designed to transform alpha cells into functional beta-like cells in Type 1 diabetes and to replenish and rejuvenate exhausted beta cells in Type 2 diabetes.

Revenue drivers

• REQORSA Gene Therapy (oncology) — Lead drug candidate, developed in combination with approved cancer drugs for NSCLC and SCLC; no revenue has been generated and the company reports annual revenue of $0.00 from 2020 through 2024.
• ONCOPREX Delivery System — Proprietary systemic, non-viral lipid nanoparticle delivery platform intended to deliver tumor suppressor genes; no revenue is reported from this platform.
• Diabetes gene therapy technology — Preclinical technology for Type 1 and Type 2 diabetes; no revenue is reported and it remains an earlier-stage program.
• Discovery programs — Early-stage discovery efforts to identify other tumor suppressor gene candidates, supported in part by a 2022 sponsored research agreement with MD Anderson; no revenue is reported.

Recent performance

Genprex has reported no revenue in any year from 2020 through 2024. Annual net losses were $20.7M in 2021, $23.7M in 2022, $30.9M in 2023, $21.4M in 2024 and $16.2M in 2025, while operating cash flow was negative in each of those years, including -$15.3M in 2025. Diluted EPS was -$0.42 in 2021, -$19.8 in 2022, -$22.56 in 2023, -$266.89 in 2024 and -$17.4 in 2025. As of 2026-06-30, the company reported total assets of $17.1M, total liabilities of $2.3M, shareholder equity of $14.8M and cash and equivalents of $15.2M.

Strategy

The company is developing REQORSA in combination with currently approved therapies, initially in NSCLC and SCLC, and believes its attributes position it to improve on those therapies. Acclaim-1 combines REQORSA with AstraZeneca's Tagrisso (osimertinib) in late-stage NSCLC with activating EGFR mutations; the Phase 1 dose escalation portion completed in May 2023 and the recommended Phase 2 dose was set at 0.12 mg/kg every 21 days. The company is enrolling patients in the Phase 2a expansion portion of Acclaim-1. Genprex also collaborates with MD Anderson on biomarker work and discovery of other tumor suppressor genes, and it states strategic prioritization initiatives across its diabetes and oncology programs are part of its planning.

Risks

• No revenue and recurring losses — Genprex has reported $0.00 annual revenue from 2020 through 2024 and net losses every year, including $16.2M in 2025.
• Going concern and financing needs — The company's own risk factors cite its ability to continue as a going concern and its ability to raise additional future financing to fund preclinical and clinical programs.
• Nasdaq listing compliance — The company has received multiple delisting notices or listing-rule failure events since June 2026, and its risk factors specifically flag maintaining Nasdaq Capital Market listing.
• Clinical and regulatory uncertainty — Its product candidates require successful clinical trials and regulatory approvals, and the company's risk factors cite delays in regulatory review and approval of current and future candidates.

Outlook

Management's stated priorities include continuing enrollment and treatment in the Phase 2a expansion portion of the Acclaim-1 trial of REQORSA plus Tagrisso in late-stage EGFR-mutated NSCLC. The company also intends to test patient samples from its clinical trials for biomarkers identified with MD Anderson to guide patient selection and improve clinical outcomes. Its risk disclosures emphasize funding needs, going-concern ability and maintaining Nasdaq listing. No revenue guidance or profitability timeline is provided in the excerpts.