Genprex (NASDAQ:GNPX) stock is on the move Thursday after providing an update on a study of its diabetes treatment.
That positive news comes from a trial of gene therapy for the treatment of Type 1 diabetes. The trial wasn’t conducted in humans; instead, primates were used. What the company found was its gene therapy reduced the need for insulin.
To go along with that, the company notes its research showed insulin and glucagon staining. That’s important to note, as it implies the creation of insulin-producing cells in the primates.
Rodney Varner, president and CEO of Genprex, said the following about the study news:
“These promising data are very encouraging and further support our belief that this gene therapy approach to treating diabetes has the potential to change the course of the disease in both Type 1 and Type 2 diabetes.”
Investors will also note GNPX intends to host a presentation with more details about the study. That will take place on Feb. 25 at 8:25 a.m. Eastern Time in Berlin, Germany.
How This Affects GNPX Stock
The recent clinical trial news resulted in a boost to GNPX stock alongside heavy trading this morning. That came from some 5 million shares changing hands as of this writing. For comparison, the company’s daily average trading volume is about 198,000 shares.
Unfortunately, GNPX stock couldn’t maintain that positive momentum and is down 1.2% as of Thursday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.