Genprex GNPX Stock News

After gaining more than 6% in the market yesterday, Genprex Inc (NASDAQ: GNPX) is likely to have yet another strong day in the market today. Minutes ago, the company announced the next phase of drug product branding. Here’s what’s happening:

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GNPX Announces Next Phas Of Branding

Minutes ago, Genprex issued a press release announcing that it has initiated the next phase of branding surrounding its lead drug candidate known as Oncoprex. The company also said that it has completed the creation and submission of non-proprietary drug name selections to the American Medical Association’s United States Admopted Names council.

GNPX said that it is expecting to receive feedback from the USAN Council later this year. Upon the receipt of feedback, the company plans on submitting its non-proprietary drug name selections to the World Health Organization for International Nonproprietary Names status, with expectations to have an approved non-proprietary drug name by mid-year 2020.

In a statement, Rodney Varner, Chairman and CEO at GNPX, had the following to offer:

Developing and obtaining regulatory approval of a non-proprietary drug name is a requirement for bringing our lead drug candidate to market. We’re one step closer to achieving this regulatory milestone. An approved non-proprietary drug name will also make our lead drug candidate more widely recognizable to clinicians and physicians and most importantly, to patients living with non-small cell lung cancer.

Why This Is Important

At the end of the day, a drug needs to have a brand name to hit the market, and this is a key step in the process to creating a brand name. The truth of the matter is that drug names are based on regulatory requirements by several governing bodies.

These names are typically designated based on the active ingredient or molecular composition of the drug. Interestingly, in gene therapy, the nomenclature for products produced by insertion of genetic material into a vector where altered genetic material is administered to patients is a biological drug based on the drug candidates gene composition and the vector used to deliver the gene. As a result, these drugs require a two-word nomenclature scheme.

Nonetheless, this is an important step in the right direction for GNPX. As Oncoprex continues to work its way through development, the company is preparing for a commercial launch, which could happen sooner than you think.

At the moment, the treatment is in the midst of Phase 2 development. Should all go well, the company will push Oncoprex into pivotal Phase 3 development, setting the stage for a New Drug Submission. Considering this, GNPX likely has several catalysts ahead and is well worth watching!

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Disclosure- CNA Finance, parent company to Alpha Stock News has a monetary relationship with Genprex. Learn more here.

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