aibioGenprex gets second Nasdaq deficiency notice, with equity at $1,391,195
Tickers GNPX
Stockholders' equity of $1,391,195 at June 30, 2025 is below the $2.5 million minimum. Genprex has asked for a Nasdaq Hearings Panel hearing, which pauses any delisting while the process runs.
Key facts
- Company
- Genprex, Inc. (NASDAQ: GNPX)
- News type
- Listings
- Primary source
- Genprex, Inc. 8-K (2025-08-18)
The equity notice
Genprex, Inc. (Nasdaq: GNPX) received a letter on August 19, 2025 from the Nasdaq Listing Qualifications Staff. The letter says the company is not in compliance with the minimum stockholders' equity requirement under Listing Rule 5550(b)(1).
The company reported stockholders' equity of $1,391,195 in its quarterly report for the period ended June 30, 2025. The minimum is $2.5 million. Genprex also did not meet the alternative standards based on market value of listed securities or net income from continuing operations. Nasdaq staff said the equity shortfall is an additional and separate basis for delisting.
The bid price history
The equity letter follows an August 12, 2025 notice about the $1.00 minimum bid price in Listing Rule 5550(a)(2). Nasdaq first flagged the low share price on February 7, 2025, based on 30 consecutive business days below $1.00, and gave the company until August 6, 2025 to regain compliance.
Genprex did not regain compliance in that period. Because it does not meet the $5,000,000 minimum stockholders' equity required for initial listing, the staff said it was not eligible for a second 180 calendar day period. The staff then determined to delist the stock unless the company requested a hearing.
The hearing
Genprex requested a hearing before the Nasdaq Hearings Panel on August 19, 2025. The request stays any suspension or delisting while the process runs. At the hearing, the company says it will ask for an extension to show compliance with both the bid price and equity requirements, and it will present a plan to regain compliance.
Patent news on the same day
On August 18, 2025, Genprex issued a press release about patents, filed in an 8-K under Item 8.01. The U.S. Patent and Trademark Office issued a notice of allowance for a patent covering REQORSA with PD-L1 antibodies such as Tecentriq. The European Patent Office issued a notice of allowance for a patent covering REQORSA with PD-1 antibodies. The company says both patents will expire in 2037 at the earliest.
The company also says it has been granted patents for REQORSA with PD-L1 antibodies in Korea, and with PD-1 antibodies in the United States, Japan and several other countries. The patents do not address the equity shortfall or the bid price, and the 8-K does not link them to the listing process.
The business behind the listing
Genprex is a clinical-stage gene therapy company. Its lead oncology candidate is REQORSA, also called quaratusugene ozeplasmid, delivered intravenously in lipid nanoparticles. It is being developed with approved cancer drugs in lung cancer. The Acclaim-1 trial pairs REQORSA with AstraZeneca's Tagrisso (osimertinib) in late-stage non-small cell lung cancer with EGFR mutations that progressed on Tagrisso.
The Phase 1 portion found no dose-limiting toxicities and set a recommended dose of 0.12 mg/kg. Three patients in that portion had prolonged progression-free survival. The company cut enrollment in August 2024 to patients who had received only prior Tagrisso, and in February 2025 it reopened eligibility to patients progressing on Tagrisso or Tagrisso-containing regimens.
The Phase 2a expansion is now expected to enroll about 33 patients, and an interim analysis follows 19 patients. The company expects the interim analysis in the first half of 2026. The FDA has granted Fast Track designation for the Acclaim-1 combination in non-small cell lung cancer.
Critical read
The company now faces two Nasdaq deficiencies at once, and it has missed the bid price deadline. The equity figure is the one reported in its June 30 quarterly report, not a later number. The hearing request buys time. The 8-K says the company will take steps to evidence compliance with the equity requirement, but it gives no amount or method.
The efficacy case rests on three Phase 1 patients, and the company has narrowed and then widened its eligible population. Patent grants are a separate matter from trial results and from the company's capital position.
What comes next
The company expects to ask the Panel for more time and present its plan at the hearing. It expects to finish enrolling the first 19 Phase 2a patients by the end of 2025, with the interim analysis in the first half of 2026.