XML 44 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Note 1 - Description of Business and Basis of Presentation
12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
Note
1
– Description of Business and Basis of Presentation
 
Genprex™ is a clinical stage gene therapy company developing potentially life-changing treatments for cancer and diabetes. Our cancer therapies are based upon our novel proprietary technology platform, including our lead drug candidate, Oncoprex™ immunogene therapy, or Oncoprex, for non-small cell lung cancer (NSCLC). Oncoprex consists of a tumor suppressor gene inserted into a patient’s cells that has immunomodulatory effects and is thereby considered an “immunogene therapy”.   The gene is
one
of a series of genes whose therapeutic use is covered by an exclusive worldwide license from The University of Texas MD Anderson Cancer Center.  We also are developing a pre-clinical gene therapy that is covered by an exclusive worldwide license from the Rangos Research Center at UPMC Children’s Hospital of Pittsburgh that has the potential to cure type
1
and type
2
diabetes.  This potential treatment works by reprogramming beta cells in the pancreas to restore their function, allowing them to replenish insulin levels.   
 
Oncology Platform Technologies
 
Our oncology platform technologies are designed to administer cancer fighting genes by encapsulating them into nanoscale hollow spheres called nanovesicles, which are then administered intravenously and taken up by tumor cells where they express proteins that are missing or found in low quantities. Oncoprex has a multimodal mechanism of action whereby it interrupts cell signaling pathways that cause replication and proliferation of cancer cells, re-establishes pathways for apoptosis, or programmed cell death, in cancer cells, and modulates the immune response against cancer cells. Oncoprex has also been shown to block mechanisms that create drug resistance.
 
With Oncoprex, we are initially targeting NSCLC.  According to the World Health Organization, lung cancer is the leading cause of cancer deaths worldwide, causing more deaths than breast, colon, kidney, liver, prostate or skin cancers, and lung cancer is
one
of the most common types of cancer. Each year, there are more than
two million
new lung cancer cases and
1.7
million deaths from lung cancer worldwide.
 
In
January, 2020,
we received a United States FDA Fast Track Designation for use of Oncoprex™ in combination with EGFR inhibitor osimertinib (AstraZeneca’s Tagrisso®) for the treatment of NSCLC patients with EFGR mutations whose tumors progressed after treatment with osimertinib alone. According to the FLAURA study sponsored by AstraZeneca, the median length of time that patients are treated with osimertinib before their tumors progress is
18
months.  Osimertinib is now considered a new standard of care for NSCLC patients with an EGFR mutation. Given this and receipt of FDA’s Fast Track Designation for use of Oncoprex combined with osimertinib in patients whose tumors progress on osimertinib, we are prioritizing this drug combination and patient population and plan to initiate a Phase I/II clinical trial of Oncoprex combined with osimertinib in late
2020
or early
2021.
 
Diabetes Gene Therapy
 
Diabetes is a chronic, metabolic disease characterized by elevated levels of blood glucose (or blood sugar), which leads over time to serious damage to the heart, blood vessels, eyes, kidneys and nerves. The most common is type
2
diabetes, usually in adults, which occurs when the body becomes resistant to insulin or doesn't make enough insulin. In the past
three
decades the prevalence of type
2
diabetes has risen dramatically. Type
1
diabetes, once known as juvenile diabetes or insulin-dependent diabetes, is a chronic condition in which the pancreas produces little or
no
insulin by itself.  According to the World Health Organization, about
422
million people worldwide have diabetes and
1.6
million deaths are directly attributed to diabetes each year. Both the number of cases and the prevalence of diabetes have been steadily increasing over the past few decades.
 
Our diabetes gene therapy was developed by lead researcher Dr. George Gittes, at the Rangos Research Center at UPMC Children’s Hospital of Pittsburgh.  It works by reprogramming beta cells in the pancreas to restore their function, thereby replenishing levels of insulin. The infusion process uses an endoscope and an adeno-associated virus (AAV) vector to deliver
Pdx1
and MafA genes to the pancreas. The proteins these genes express have been shown to transform alpha cells in the pancreas into functional beta-like cells, which can produce insulin but are distinct enough from beta cells to evade the body’s immune system.
 
The diabetes gene therapy has been tested 
in vivo
 in mice and nonhuman primates. In studies of diabetic mice, the gene therapy approach restored normal blood glucose levels for an extended period of time, typically around
four
months. According to Dr. Gittes, the duration of restored blood glucose levels in mice could translate to decades in humans. If successful, this gene therapy could eliminate the need for insulin replacement therapy for diabetic patients.
 
Capital Requirements, Liquidity and Going Concern Considerations
 
Our financial statements are prepared using the generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, as shown in the accompanying financial statements, we have sustained substantial losses from operations since inception and have
no
current source of revenue. In addition, we have used, rather than provided, cash in our operations. We expect to continue to incur significant expenditures to further clinical trials for the commercial development of our patents.
 
Management recognizes that we must obtain additional resources to successfully commercialize our intellectual property.  To date, we have received funding in the form of equity and debt, and we plan to seek additional funding in the future. However,
no
assurances can be given that we will be successful in raising additional capital.  If we are
not
able to timely and successfully raise additional capital, the timing of our clinical trials, financial condition and results of operations will continue to be materially affected. These financial statements do
not
include any adjustments relating to the recoverability and classification of recorded asset amounts and classification of liabilities.