# EDGAR Filing Document

**Accession Number:** 0001595248
**File Stem:** 0001437749-25-032080
**Filing Date:** 2025-10
**Character Count:** 206830
**Document Hash:** aa78821ea217b0f737ca4930a6cb294a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-25-032080.hdr.sgml**: 20251029

**ACCESSION NUMBER**: 0001437749-25-032080

**CONFORMED SUBMISSION TYPE**: 424B5

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251029

**DATE AS OF CHANGE**: 20251029

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Genprex, Inc.
- **CENTRAL INDEX KEY:** 0001595248
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 900772347
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 424B5
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-271386
- **FILM NUMBER:** 251427189

**BUSINESS ADDRESS:**
- **STREET 1:** 1601 TRINITY STREET, BLDG. B
- **STREET 2:** SUITE 3.322
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78712
- **BUSINESS PHONE:** 512-537-7997

**MAIL ADDRESS:**
- **STREET 1:** 1601 TRINITY STREET, BLDG. B
- **STREET 2:** SUITE 3.322
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78712

**Filed Pursuant to Rule 424(b)(5)**

**Registration No. 333-271386**

**PROSPECTUS SUPPLEMENT**

**(To Prospectus dated June 9, 2023)**

![genprex01.jpg](genprex01.jpg)

**GENPREX, INC.**

**377,780 Shares of Common Stock**

We are offering 377,780 shares of our common stock, par value $0.001 per share, in this offering. Each share of common stock is being sold at a price of $9.00.

In a concurrent private placement, we are also selling to the purchasers of shares of our common stock in this offering, warrants (the "Private Placement Warrants") to purchase an aggregate of 755,560 shares of our common stock. Each Private Placement Warrant will have an exercise price of $8.75 per share and will expire on the date that is twenty-four (24) months from the effective date of a resale registration statement registering the resale of all of the shares of common stock issued and issuable upon exercise of the Private Placement Warrant. Each purchaser will receive a Private Placement Warrant to purchase two shares of our common stock for each share of common stock purchased in this offering. The Private Placement Warrants and shares of common stock issuable upon exercise of the Private Placement Warrants are not being registered under the Securities Act of 1933, as amended (the "Securities Act"), are not being offered pursuant to this prospectus supplement and the accompanying prospectus and are being offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act and/or Rule 506(b) promulgated thereunder.

We have engaged H.C. Wainwright & Co., LLC (referred to herein as the "placement agent") as our exclusive placement agent in connection with this offering. The placement agent has no obligation to buy any of the securities from us or to arrange for the purchase or sale of any specific number or dollar amount of securities. We have agreed to pay the placement agent the placement agent fees set forth in the table below, which assumes that we sell all of the securities we are offering. See "Plan of Distribution" beginning on page S-17 of this prospectus supplement for more information regarding these arrangements.

Our common stock is listed on The Nasdaq Capital Market under the symbol "GNPX." On October 27, 2025, the last reported sale price of our common stock on The Nasdaq Capital Market was $8.75 per share.

As of the date of this prospectus supplement, the aggregate market value of our outstanding common stock held by non-affiliates was $52,607,142 based on 1,254,061 shares of common stock outstanding, of which 1,252,551 shares were held by non-affiliates, and a price of $42.00 per share, which was the last reported sale price of our common stock on the Nasdaq Capital Market on October 15, 2025. As of the date of this prospectus supplement, we have sold securities with an aggregate market value of $14,038,985 pursuant to General Instruction I.B.6. of Form S-3 during the prior 12 calendar month period that ends on, and includes, the date of this prospectus supplement.

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**We effected a 1-for-50 reverse stock split effective as of 12:01 a.m. Eastern Time on October 21, 2025, pursuant to which every fifty shares of our issued and outstanding common stock were reclassified as one share of common stock (the** "**2025 Reverse Stock Split**"**). We effected a 1-for-40 reverse stock split effective as of 12:01 a.m. Eastern Time on February 2, 2024, pursuant to which every forty shares of our issued and outstanding common stock were reclassified as one share of common stock (the** "**2024 Reverse Stock Split**"**, and together with the 2025 Reverse Stock Split, the** "**Reverse Stock Splits**"**). The Reverse Stock Splits had no impact on the par value of our common stock or the authorized number of shares of our common stock. Unless otherwise indicated, all share and per share information in this prospectus is adjusted to reflect the Reverse Stock Splits. However, (i) our Annual Report on Form 10-K for the year ended December 31, 2024, filed on April 1, 2025, and all other documents incorporated by reference into this prospectus that were filed prior to October 21, 2025, do not give effect to the 2025 Reverse Stock Split, and (ii) the share and per share information as stated in the base prospectus dated June 9, 2023 which accompanies this prospectus supplement, does not give effect to the Reverse Stock Splits.**

**Investing in our securities involves a high degree of risk. See** "**Risk Factors**" **beginning on page S-8 of this prospectus supplement for a discussion of information that should be considered in connection with an investment in our securities.**

**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

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| | | |
|:---|:---|:---|
|  | **Per Share**  | **Total** |
| Public Offering Price | $9.00 | $3400020.00 |
| Placement Agent Fees(1) | $0.63 | $238001.40 |
| Proceeds to Us, before expenses(2) | $8.37 | $3162018.60 |

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(1) In addition, we have agreed to (i) pay the placement agent a management fee of 1.0% of the aggregate gross proceeds raised in this offering, (ii) issue the placement agent or its designees warrants to purchase a number of shares of common stock equal to 6.0% of the aggregate number of shares of common stock sold in this offering and (iii) reimburse certain expenses of the placement in connection with this offering. In addition, in connection with any future exercise of the Private Placement Warrants, we have agreed to (A) pay the Placement Agent (i) a cash fee equal to 7.0% of the aggregate gross exercise price paid in cash with respect to the exercise of such Private Placement Warrants and (ii) a management fee equal to 1.0% of the aggregate gross exercise price paid in cash with respect to the exercise of such Private Placement Warrants and (B) issue to the Placement Agent or its designees additional placement agent warrants to purchase that number of shares equal to 6.0% of the aggregate number of shares of common stock underlying such Private Placement Warrants that have been exercised. See "Plan of Distribution" beginning on page S-17 for more information regarding the placement agent's compensation.

(2) The amount of the offering proceeds to us presented in this table does not give effect to any exercise of any Private Placement Warrants or the warrants to be issued to the placement agent.

Delivery of the securities to investors is expected on or about October 29, 2025.

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**H.C. Wainwright & Co.**

**The date of this prospectus supplement is October 28, 2025.**

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**TABLE OF CONTENTS**

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| | |
|:---|:---|
| **PROSPECTUS SUPPLEMENT** | **Page** |
| ABOUT THIS PROSPECTUS SUPPLEMENT | S-i |
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS | S-iii |
| PROSPECTUS SUPPLEMENT SUMMARY | S-1 |
| RISK FACTORS | S-8 |
| USE OF PROCEEDS | S-12 |
| DILUTION | S-13 |
| DESCRIPTION OF THE SECURITIES WE ARE OFFERING | S-14 |
| PRIVATE PLACEMENT TRANSACTION – PRIVATE PLACEMENT WARRANTS | S-14 |
| PLAN OF DISTRIBUTION | S-17 |
| LEGAL MATTERS | S-19 |
| EXPERTS | S-19 |
| WHERE YOU CAN FIND MORE INFORMATION | S-19 |
| INCORPORATION OF DOCUMENTS BY REFERENCE | S-19 |

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| | |
|:---|:---|
| **PROSPECTUS** |  |
| ABOUT THIS PROSPECTUS | 1 |
| PROSPECTUS SUMMARY | 2 |
| RISK FACTORS | 5 |
| FORWARD-LOOKING STATEMENTS | 6 |
| USE OF PROCEEDS | 7 |
| THE SECURITIES WE MAY OFFER | 8 |
| DESCRIPTION OF CAPITAL STOCK | 8 |
| DESCRIPTION OF STOCK WARRANTS | 13 |
| DESCRIPTION OF DEBT SECURITIES | 15 |
| DESCRIPTION OF SUBSCRIPTION RIGHTS | 21 |
| DESCRIPTION OF UNITS | 22 |
| FORMS OF SECURITIES | 23 |
| PLAN OF DISTRIBUTION | 25 |
| LEGAL MATTERS | 29 |
| EXPERTS | 29 |
| ADDITIONAL INFORMATION | 29 |
| INCORPORATION OF CERTAIN INFORMATION BY REFERENCE | 29 |

---

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**ABOUT THIS PROSPECTUS SUPPLEMENT**

This document is part of a "shelf" registration statement on Form S-3 that we filed with the U.S. Securities and Exchange Commission (the "SEC") and is in two parts. The first part is this prospectus supplement, which describes the specific terms of this offering of shares of common stock and also adds to and updates information contained in the accompanying prospectus and the documents incorporated by reference into this prospectus supplement and the accompanying prospectus. The second part, the accompanying prospectus dated June 9, 2023, including the documents incorporated by reference into it, provides more general information. Generally, when we refer to this "prospectus," we are referring to both parts of this document combined. To the extent there is a conflict between the information contained in this prospectus supplement and the information contained in the accompanying prospectus or any document incorporated by reference that was filed with the SEC, before the date of this prospectus supplement, you should rely on the information in this prospectus supplement; provided that if any statement in one of these documents is inconsistent with a statement in another document having a later date - for example, a document incorporated by reference in the accompanying prospectus - the statement in the document having the later date modifies or supersedes the earlier statement.

We further note that the representations, warranties and covenants made by us in any agreement that is filed as an exhibit to any document that is incorporated by reference herein were made solely for the benefit of the parties to such agreement, including, in some cases, for the purpose of allocating risk among the parties to such agreements, and should not be deemed to be a representation, warranty or covenant to you. Moreover, such representations, warranties or covenants were accurate only as of the date when made. Accordingly, such representations, warranties and covenants should not be relied on as accurately representing the current state of our affairs.

Neither we nor the placement agent have authorized anyone to provide information different from that contained in this prospectus supplement and the accompanying prospectus, including any free writing prospectus that we have authorized for use in connection with this offering. When you make a decision about whether to invest in our securities, you should not rely upon any information other than the information in this prospectus supplement or the accompanying prospectus, including any free writing prospectus that we have authorized for use in connection with this offering. Neither the delivery of this prospectus supplement nor the accompanying prospectus, including any free writing prospectus that we have authorized for use in connection with this offering, nor the sale of our securities means that information contained in this prospectus supplement and the accompanying prospectus, including any free writing prospectus that we have authorized for use in connection with this offering, is correct after their respective dates. It is important for you to read and consider all information contained in this prospectus supplement and the accompanying prospectus, including the information incorporated by reference into this prospectus supplement and the accompanying prospectus, and any free writing prospectus that we have authorized for use in connection with this offering in making your investment decision. You should also read and consider the information in the documents to which we have referred you in the sections entitled "Where You Can Find More Information" and "Incorporation of Documents by Reference" in this prospectus supplement.

We are offering to sell, and seeking offers to buy, the securities offered hereby only in jurisdictions where offers and sales are permitted. The distribution of this prospectus supplement and the accompanying prospectus and the offering of the securities offered hereby in certain jurisdictions may be restricted by law. Persons outside the United States, or the U.S., who come into possession of this prospectus supplement and the accompanying prospectus must inform themselves about, and observe any restrictions related to, the offering of the securities offered hereby and the distribution of this prospectus supplement and the accompanying prospectus outside the U.S. This prospectus supplement and the accompanying prospectus does not constitute, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy, any securities offered by this prospectus supplement and the accompanying prospectus by any person in any jurisdiction in which it is unlawful for such person to make such an offer or solicitation.

Unless otherwise indicated, information contained in this prospectus supplement, the accompanying prospectus or the documents incorporated by reference herein concerning our industry and the markets in which we operate, including our general expectations and market position, market opportunity and market share, is based on information from our own management estimates and research, as well as from industry and general publications and research, surveys and studies conducted by third parties. Management estimates are derived from publicly available information, our knowledge of our industry and assumptions based on such information and knowledge, which we believe to be reasonable. In addition, assumptions and estimates of our and our industry's future performance are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described in "Risk Factors" in this prospectus supplement, and the accompanying prospectus and in our Annual Report for the year ended December 31, 2024, as filed with the SEC on April 1, 2025, as amended, supplemented or superseded from time to time by other reports we filed subsequently with the SEC or that we file in the future, which are incorporated by reference into this prospectus supplement. These and other important factors could cause our future performance to differ materially from our assumptions and estimates. See "Cautionary Note Regarding Forward-Looking Statements."

S-i

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General information about us can be found on our website at *www.genprex.com*. The information on our website is for informational purposes only and should not be relied on for investment purposes. The information on our website is not incorporated by reference into either this prospectus supplement or the accompanying prospectus and should not be considered part of this or any other report filed with the SEC.

Unless otherwise indicated in this prospectus supplement or the context otherwise requires, all references to "we," "us," "our," "the Company," and "Genprex" refer to Genprex, Inc.

"Genprex, Inc." and our design logo used in this prospectus supplement and the accompanying prospectus are our trademarks. This prospectus supplement and the accompanying prospectus may also include other trademarks, tradenames and service marks that are the property of their respective holders. Solely for convenience, trademarks and tradenames referred to in this prospectus supplement and the accompanying prospectus may appear without the® and™ symbols, but those references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights, or that the applicable holder will not assert its rights, to these trademarks and tradenames.

S-ii

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**CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS**

*This prospectus supplement and the accompanying prospectus, including the documents that we incorporate by reference, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the* "*Securities Act*"*) and Section 21E of the Securities Exchange Act of 1934, as amended (the* "*Exchange Act*"*). Such forward-looking statements include those that express plans, anticipation, intent, contingency, goals, targets or future development and/or otherwise are not statements of historical fact. These statements include, but are not limited to, statements regarding:*

● Market conditions;

● Our capital position;

● Our ability to raise additional future financing and possible lack of financial and other resources, and our ability to continue to support and fund our pre-clinical and clinical development programs and growth of our business;

● Our ability to continue as a going concern;

● Our ability to regain (as applicable) and maintain compliance with the continued listing requirements of The Nasdaq Capital Market and maintain the listing of our common stock;

● Our ability to compete effectively and with larger and/or better-financed biotechnology and pharmaceutical companies;

● Our uncertainty of developing marketable products;

● Our ability to develop and commercialize our products;

● Our ability to obtain regulatory approvals;

● Our ability and third-parties' ability to maintain and protect intellectual property rights;

● The effects and impacts of public health crises such as epidemics or outbreaks, which could significantly disrupt and have a materially adverse effect upon our business, our clinical trials and our research programs, as well as on healthcare systems or the global economy as a whole;

● The success of our clinical trials through all phases of clinical development, including the ability of our third-party suppliers or manufacturers to supply or manufacture our products on a timely, consistent basis in a manner sufficient and appropriate as is commensurate to meet our clinical trial timing, courses of treatment, and other requisite fulfillment considerations necessary to adequately advance our development programs;

● Our ability to conduct and complete our clinical trials in accordance with projected timelines;

● Any delays in regulatory review and approval of our current and future product candidates;

● The effects of any strategic research and development prioritization initiatives, and any other strategic alternatives or other efforts that we take or may take in the future that are aimed at optimizing and re-focusing our diabetes, oncology and/or other clinical development programs including prioritization of resources, and the extent to which we are able to implement such efforts and initiatives successfully to achieve the desired and intended results thereof, including successful implementation of the separation of our diabetes clinical development program, including the anticipated benefits of the internal reorganization, the expected timing of the reorganization and/or if it is completed as contemplated or at all;

● Our dependence on third-party suppliers or manufacturers to supply or manufacture our key ingredients and/or raw materials, products and/or product components and successfully carry out a sustainable, reproducible and scalable manufacturing process in accordance with specifications or applicable regulations;

● Our ability to control product development costs;

● Our ability to attract and retain key employees;

● Our ability to enter into new strategic collaborations, licensing or other arrangements;

● Changes in government regulation affecting product candidates that could increase our development costs;

● Our involvement in patent, trademark and other intellectual property litigation that could be expensive and divert management's attention;

● The possibility that there may be no market acceptance for our products; and

● Changes in third-party reimbursement policies which could adversely affect potential future sales of any of our products that are approved for marketing.

S-iii

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These forward-looking statements are based on our current expectations and projections about future events and they are subject to risks and uncertainties known and unknown to us that could cause actual results and developments to differ materially from those expressed or implied in such statements, including the risks described under "Risk Factors" in this prospectus supplement and our Annual Report on Form 10-K for the year ended December 31, 2024 as updated by our subsequent filings under the Exchange Act, each of which is incorporated by reference in this prospectus supplement in their entirety.

In some cases, you can identify forward-looking statements by terminology, such as "expects," "anticipates," "intends," "estimates," "plans," "believes," "seeks," "may," "should", "could" or the negative of such terms or other similar expressions. Accordingly, these statements involve estimates, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them. Any forward-looking statements are qualified in their entirety by reference to the factors discussed throughout this prospectus supplement.

You should read this prospectus supplement and the documents that we reference herein and therein, completely and with the understanding that our actual future results may be materially different from what we expect. You should assume that the information appearing in this prospectus supplement and the documents incorporated by reference is accurate as of their respective dates. Our business, financial condition, results of operations and prospects may change. We may not update these forward-looking statements, even though our situation may change in the future, unless required by law to update and disclose material developments related to previously disclosed information. We qualify all of the information presented in this prospectus supplement, and particularly our forward-looking statements, by these cautionary statements.

S-iv

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**PROSPECTUS SUPPLEMENT SUMMARY**

*The following summary is qualified in its entirety by, and should be read together with, the more detailed information and financial statements and related notes thereto appearing elsewhere or incorporated by reference in this prospectus supplement. Before you decide to invest in our securities, you should read the entire prospectus supplement carefully, including the risk factors and the financial statements and related notes included or incorporated by reference in this prospectus supplement.*

*Unless otherwise indicated or unless the context requires otherwise, this prospectus supplement includes the accounts of Genprex, Inc., a Delaware corporation, referred to as* "*we*"*,* "*us*"*,* "*Genprex*" *or the* "*Company.*"

**Overview**

We are a clinical stage gene therapy company pioneering the development of gene-based therapies for large patient populations with unmet medical needs. Our oncology platform utilizes our systemic, non-viral ONCOPREX® Delivery System which uses lipid-based nanoparticles in a lipoplex form to deliver tumor suppressor gene-expressing plasmids to cancer cells. The product is administered intravenously, where it is taken up by tumor cells that then express tumor suppressor proteins that were deficient in the tumor. Our diabetes technology is designed to work in Type 1 diabetes by transforming alpha cells in the pancreas into functional beta-like cells, which can produce insulin but may be distinct enough from beta cells to evade the body's immune system. In Type 2 diabetes, our technology is believed to work by replenishing and rejuvenating exhausted beta cells that make insulin.

*<u>Oncology Platform</u>*

Our lead oncology drug candidate, REQORSA® gene therapy (generic name: *quaratusugene ozeplasmid*), previously referred to as GPX-001, is initially being developed in combination with prominent, approved cancer drugs to treat Non-Small Cell Lung Cancer ("NSCLC") and Small Cell Lung Cancer ("SCLC"). REQORSA has multimodal effects on cancer cells. It harms the metabolism of cancer cells, which leads to reduced cancer cell growth. It has a mechanism of action whereby it decreases tumor glucose metabolism, 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 increases the immune response against cancer cells. In preclinical studies, REQORSA has been shown to be complementary with targeted drugs and immunotherapies. Our strategy is to develop REQORSA in combination with currently approved therapies and we believe REQORSA's unique attributes position it to provide treatments that improve on these current therapies for patients with NSCLC, SCLC, and possibly other cancers.

The TUSC2 gene, which is the key component of REQORSA and plays a vital role in cancer suppression and normal cell metabolism, is one of a series of genes on the short arm of Chromosome 3 whose therapeutic use is covered by our exclusive worldwide licenses from The University of Texas MD Anderson Cancer Center ("MD Anderson"). We believe that our ONCOPREX Delivery System allows for the delivery of a number of cancer-fighting tumor suppressor genes, alone or in combination with other cancer therapies, to combat multiple types of cancer and we are in early stages of discovery programs to identify other cancer candidates. In August 2022, we entered into a sponsored research agreement with MD Anderson to support further preclinical studies of TUSC2 and other tumor suppressor genes. Additionally, we are collaborating with MD Anderson to discover, develop and utilize biomarkers to select the patient population most likely to respond to REQORSA and enable decisions on progression of our drug candidates to the next phase of development. MD Anderson researchers currently are analyzing biomarkers that may indicate a strong positive or negative response to REQORSA in lung cancer that could be used to enrich our population of responders in our clinical trials.

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*Acclaim-1*: We currently are enrolling and treating patients in the Phase 2a expansion portion of our Phase 1/2 Acclaim-1 clinical trial. The Acclaim-1 trial uses a combination of REQORSA and AstraZeneca's Tagrisso® (*osimertinib*) in patients with late-stage NSCLC that has activating epidermal growth factor receptor ("EGFR") mutations and progression on treatment with Tagrisso or Tagrisso-containing regimens. Following the May 2023 completion of the Phase 1 dose escalation portion of the study, the Acclaim-1 Safety Review Committee ("Acclaim-1 SRC") approved advancement from the Phase 1 dose escalation portion to the Phase 2a expansion portion of the study. Based on a review of safety data which showed no dose limiting toxicities ("DLTs"), the Acclaim-1 SRC determined the recommended Phase 2 dose ("RP2D") of REQORSA to be 0.12 mg/kg. This was the highest dose level delivered in the Phase 1 portion of the study and is twice the highest dose level delivered in our prior clinical trial combining REQORSA with Tarceva® (*erlotinib*) for the treatment of late-stage lung cancer. There were three patients originally enrolled in the Phase 1 dose escalation portion of the study who had prolonged progression-free survival ("PFS"). One patient attained a partial remission after the second course of REQORSA and Tagrisso and has maintained this response through 52 courses of treatment (approximately 36 months) and continues to receive REQORSA and Tagrisso treatment to date. A second patient had stable disease without disease progression through 32 courses of treatment (approximately 24 months) but then had disease progression and REQORSA treatment was stopped. A third patient had stable disease without disease progression through 14 courses of treatment (approximately 10 months) before disease progression and is no longer receiving treatment. We opened the Phase 2a expansion portion of the study and enrolled and dosed the first patient in January 2024. The initial trial design of the Phase 2a expansion portion of the study included two cohorts with half being patients who received only prior Tagrisso treatment and the other half being patients who received prior Tagrisso treatment and chemotherapy. However, as previously announced in August 2024, based on resource prioritization and to focus on the patients for whom REQORSA is most likely to show a benefit, we decided to limit our enrollment efforts moving forward to patients who received only prior Tagrisso treatment and cease enrollment of the second cohort (patients who received prior Tagrisso treatment and chemotherapy). However, noting that two of the patients with prolonged PFS in the Phase 1 portion of the study had previously received both chemotherapy and Tagrisso, in February 2025, we amended the protocol to allow entry of patients progressing on Tagrisso or Tagrisso-containing regimens. The Phase 2a expansion portion of the trial is now expected to enroll approximately 33 patients; all of whom have progressed on Tagrisso or Tagrisso-containing regimens. The Phase 2b randomized portion of the study, in which patients progressing on prior Tagrisso treatment will be randomized 1:1 to either REQORSA and Tagrisso combination therapy or to platinum-based chemotherapy, remains unchanged. There will be an interim analysis following the treatment of 19 patients in the Phase 2a portion of the Acclaim-1 study. We expect to complete the enrollment of the first 19 patients for interim analysis in the Phase 2a expansion portion of the study by the first half of 2026 and expect the interim analysis in the second half of 2026.

The Food and Drug Administration ("FDA") has granted Fast Track Designation for the Acclaim-1 treatment combination of REQORSA and Tagrisso in NSCLC patients who have progressed on Tagrisso treatment.

The Phase 2a expansion portion of the Acclaim-1 study provides us the advantage of early insight into drug effectiveness in defined and distinct patient populations at the maximum tolerated dose or RP2D in order to better evaluate efficacy and increase the likelihood of a successful randomized Phase 2 trial which will follow the expansion portion of the study.

*Acclaim-2*: The Acclaim-2 trial involved a combination of REQORSA and Merck & Co.'s Keytruda® (*pembrolizumab*) in patients with late-stage NSCLC whose disease has progressed after treatment with Keytruda. As previously announced in August 2024, based on a number of factors, including enrollment challenges and delays due to competition for investigators and eligible patients with numerous other trials involving the same patient population, we decided to cease enrollment of new patients in the Acclaim-2 trial to prioritize our resources and focus on the other two Acclaim trials in SCLC and NSCLC, respectively. There are no longer any patients receiving study treatment in the Acclaim-2 trial. Although the Acclaim-2 study in patients progressing on Keytruda containing regimens has been closed due to, among other factors, slow enrollment, we continue to believe that this combination could be beneficial.

*Acclaim-3*: We are currently enrolling and treating patients in the Phase 2 expansion portion of our Phase 1/2 Acclaim-3 clinical trial. The Acclaim-3 clinical trial uses a combination of REQORSA and Genentech, Inc.'s Tecentriq® (*atezolizumab*) as maintenance therapy for patients with extensive stage small cell lung cancer ("ES-SCLC") who did not develop tumor progression after receiving Tecentriq and chemotherapy as initial standard treatment. Patients are treated with REQORSA and Tecentriq until disease progression or unacceptable toxicity is experienced. On December 16, 2024, we announced that we had completed the Phase 1 dose escalation portion of the Acclaim-3 clinical trial. Based on full safety data, which showed no DLTs, the Acclaim-3 Safety Review Committee determined that the RP2D of REQORSA will be 0.12 mg/kg, which was the highest dose level delivered in the Phase 1 portion of the trial, and approved the opening of the Phase 2 expansion portion of the trial. We anticipate that the Phase 2 expansion portion will enroll approximately 50 patients at approximately 10 to 15 U.S sites. Patients will be treated with REQORSA and Tecentriq until disease progression or unacceptable toxicity is experienced. The primary endpoint of the Phase 2 portion is to determine the 18-week progression-free survival rate from the time of the start of maintenance therapy with REQORSA and Tecentriq in patients with ES-SCLC. Patients will also be followed for survival. A Phase 2 futility analysis will be performed after the 25th patient enrolled and treated reaches 18 weeks of follow up. We expect to complete enrollment of the first 25 patients for interim analysis in the Phase 2 expansion portion of the study in the first half of 2026 and expect the interim analysis in the second half of 2026.

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The Acclaim-3 clinical trial has received FDA Fast Track Designation for this patient population and Acclaim-3 has also received an FDA Orphan Drug Designation.

*<u>Diabetes Gene Therapy</u>*

In diabetes, we have exclusively licensed from the University of Pittsburgh of the Commonwealth System of Higher Education ("University of Pittsburgh" or "UP") multiple technologies relating to the development of a gene therapy product for each of Type 1 and Type 2 diabetes. The same general novel approach is used in each of Type 1 and Type 2 diabetes whereby an adeno-associated virus vector containing the Pdx1 and MafA genes is administered directly into the pancreatic duct. In humans, this can be done with a routine endoscopy procedure. Our diabetes product candidates are currently being evaluated and optimized in preclinical studies at the University of Pittsburgh. GPX-002 is being developed using the same construct for the treatment of both Type 1 diabetes and Type 2 diabetes. GPX-002 for Type 1 diabetes is designed to work by transforming alpha cells in the pancreas into functional beta-like cells, which can produce insulin but may be distinct enough from beta cells to evade the body's immune system. In a similar approach, GPX-002 for Type 2 diabetes (formerly known as GPX-003), where autoimmunity is not at play, is believed to work by replenishing and rejuvenating exhausted beta cells that make insulin. We finalized the components of the diabetes construct to take forward for nonclinical studies and in December 2023, we submitted a request to meet with the FDA to obtain their guidance on the nonclinical studies needed to file an Investigational New Drug ("IND") application and initiate first-in-human studies. As a result of the FDA's response, we decided to continue with our planned additional nonclinical studies before requesting regulatory guidance for the IND-enabling studies. We are currently working with the University of Pittsburgh on species analyses for the animal models as well as on other regulatory and clinical strategic planning, including the planned initiation of research in Type 2 diabetes animal models, following which we plan to submit a request to the FDA to meet regarding IND-enabling studies by the end of 2025. In May 2025, following the recent completion of our August 2022 sponsored research agreement with UP, we entered into a new sponsored research agreement with UP to study Type 1 diabetes and Type 2 diabetes in animal models. The new sponsored research agreement also includes a revised research plan to encompass our most recent technologies to which we originally acquired exclusive rights from UP in July 2023 as amended and restated in the comprehensive New UP License Agreement in February 2025 (as defined and described below). These include a MafB promoter to drive expression of the Pdx1 and MafA transcription factors that can potentially be used for both Type 1 and Type 2 diabetes. On February 17, 2025, we and the University of Pittsburgh entered into an amended and restated Exclusive License Agreement (the "New UP License Agreement"), which updates and consolidates into a single agreement our prior license agreements with UP. Pursuant to the New UP License Agreement, UP granted to us a worldwide, exclusive license for certain patents and related technology, collectively referred to as the "Licensed Technology," and a worldwide, non-exclusive license to use certain related know-how. The Licensed Technology covered by the New UP License Agreement is based on the same general gene therapy approach as covered under our prior license agreements with UP (less the previously-licensed macrophage technology), whereby an adeno-associated virus vector containing the Pdx1 and MafA genes is administered directly into the pancreatic duct. More specifically, the Licensed Technology covered by the New UP License Agreement is related to a gene therapy for both Type 1 diabetes and Type 2 diabetes using the genes of the Pdx1 and MafA transcription factors controlled by insulin, glucagon and MafB promoters.

In February 2023, the Company's research collaborators at UP presented preclinical data in a non-human primate model of Type 1 diabetes highlighting the therapeutic potential of GPX-002 at the 16th International Conference on Advanced Technologies & Treatments for Diabetes (ATTD 2023) in Berlin, Germany. The statistically significant study results showed the treated animals had decreased insulin requirements, increased c-peptide levels, and improved glucose tolerance compared to baseline. In April 2023, the Company hosted a Key Opinion Leader virtual event entitled "Novel Gene Therapy to Treat Type 1 Diabetes," which discussed preclinical data reported at ATTD 2023 supporting gene therapy to treat Type 1 diabetes. In June 2025, our collaboration partners had two presentations at the 2025 American Diabetes Association (ADA) 85th Scientific Sessions. Genprex's research collaborators from UP were invited to give an oral presentation highlighting their work in non-human primate models of Type 1 diabetes. In addition, Genprex's contract development and manufacturing organization collaborators presented a poster on a non-viral lipid nanoparticle delivery system that would allow a patient to receive multiple treatments.

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For a complete description of our business, financial condition, results of operations and other important information, we refer you to our filings with the SEC that are incorporated by reference in this prospectus supplement, including our Annual Report on Form 10-K for the year ended December 31, 2024. For instructions on how to find copies of these documents, see "Where You Can Find More Information" and "Incorporation of Documents by Reference."

**Recent Developments**

***2025 Reverse Stock Split***

Effective as of 12:01 a.m. Eastern Time on October 21, 2025, we effected the previously disclosed 1-for-50 reverse stock split of our common stock, pursuant to which every fifty shares of our issued and outstanding common stock were reclassified as one share of common stock (the "2025 Reverse Stock Split"). The 2025 Reverse Stock Split had no impact on the par value of our common stock or the authorized number of shares of our common stock. As of October 27, 2025 (after giving effect to the 2025 Reverse Stock Split, but prior to any rounding applied to any fractional shares resulting from the 2025 Reverse Stock Split, and before giving effect to the issuance of the securities in this offering), we have 1,254,061 shares of our common stock issued and outstanding.

Unless otherwise indicated, all share and per share information in this prospectus is adjusted to reflect the 2025 Reverse Stock Split. However, (i) our Annual Report on Form 10-K for the year ended December 31, 2024, filed on April 1, 2025, and all other documents incorporated by reference into this prospectus that were filed prior to October 21, 2025, do not give effect to the 2025 Reverse Stock Split, and (ii) the share and per share information as stated in the base prospectus dated June 9, 2023 which accompanies this prospectus supplement, does not give effect to the Reverse Stock Split (nor does the share and per share information as stated in the base prospectus give effect to our prior reverse stock split effected February 2, 2024).

***Lincoln Park Equity Line of Credit Sales***

On June 11, 2025, we entered into an equity line of credit ("ELOC") purchase agreement (the "Purchase Agreement") with Lincoln Park Capital Fund, LLC ("Lincoln Park"), pursuant to which Lincoln Park committed to purchase up to $12.5 million in shares of our common stock (subject to certain conditions and limitations contained in the Purchase Agreement) from time to time at our discretion over the 24-month term of the Purchase Agreement (the "2025 ELOC Facility"). From inception of the Purchase Agreement through the date of this prospectus supplement, we have (i) issued and sold to Lincoln Park 428,335 shares of common stock as Purchase Shares, for aggregate gross proceeds of $3,874,814, and (ii) issued to Lincoln Park 23,738 Commitment Shares in consideration for Lincoln Park's commitment to purchase shares of common stock at our discretion under the Purchase Agreement.

***October 2025 Registered Direct Offering***

On October 24, 2025, we completed a registered direct offering priced at-the-market under Nasdaq rules (the "October 2025 Registered Direct Offering"), pursuant to which we issued an aggregate of 243,622 shares of common stock at a purchase price of $11.21 per share. In a concurrent private placement (the "October 2025 Private Placement", and together with the October 2025 Registered Direct Offering, the "October 2025 Financing"), we issued warrants (the "October 2025 Private Warrants") exercisable for up to an aggregate of 487,244 shares of common stock (the "October 2025 Private Warrant Shares") at an exercise price of $11.00 per share. The net proceeds of the October 2025 Financing, after deducting the placement agent's fees and expenses and other estimated October 2025 Registered Direct Offering expenses payable by us and excluding the net proceeds, if any, from the exercise of the October 2025 Private Warrants, were approximately $2.3 million. Additionally, if the holders of October 2025 Private Warrants exercise such warrants in full, we would receive additional gross proceeds of approximately $5.4 million. Purchasers in the Registered Direct Offering who also participated in the October 2025 Registered Direct Offering and constituting the requisite percentage in interest of the October 2025 Registered Direct Offering purchasers under the applicable contract terms, by means of their execution of the Purchase Agreement governing the terms of the Offering, agreed to waive certain restrictions previously placed upon us from issuing (or agreeing to issue) Common Stock and Common Stock equivalents pursuant to the terms governing such October 2025 Registered Direct Offering.

***Nasdaq Compliance Matters***

On October 13, 2025, the Nasdaq Hearings Panel (the "Panel") notified us that it has granted our request for an exception to demonstrate compliance with the $1.00 Minimum Bid Price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Requirement") and the minimum stockholders' equity requirement for continued listing on the Nasdaq Capital Market, under Listing Rule 5550(b)(1) (the "Minimum Stockholders' Equity Requirement") for continued listing through October 31, 2025 (the "Exception"). However, upon request by us, the Panel has discretion to grant us continued listing through February 9, 2026. Pursuant to the Exception, we are required to, and we fully intend to, provide the Panel with prompt notification of any significant events that occur, including any event that may call into question our ability to satisfy the terms of the Exception. If such events do occur, we may request a further extension beyond October 31, 2025 to regain compliance with either or both of the Bid Price Requirement and the Minimum Stockholders' Equity Requirement. The Panel has reserved the right to reconsider the terms of the Exception based on any event, condition or circumstance that exists or develops that would, in the Panel's opinion, make continued listing of our securities on Nasdaq inadvisable or unwarranted. There can be no assurance that the Panel would exercise their discretion to grant an extension beyond October 31, 2025.

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As previously disclosed, on August 19, 2025, we received a notice from the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") indicating that we were not in compliance with the Minimum Stockholders' Equity Requirement and as previously disclosed, on August 12, 2025, we received a letter from Nasdaq indicating that, because we have not regained compliance with the Bid Price Requirement and because of our ineligibility for a second 180 calendar day compliance period, the Staff had determined to delist our securities from Nasdaq unless we timely requested a hearing with the Panel. We timely requested a hearing before the Panel, which was held on September 18, 2025.

**Corporate Information**

We were incorporated in Delaware in April 2009. Our principal executive offices are located at 3300 Bee Cave Road, #650-227, Austin, TX 78746, and our telephone number is (877) 774-4679. Our website address is *www.genprex.com*. The information on our website is not part of this prospectus supplement. We have included our website address as a factual reference and do not intend them to be active links to our websites.

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**The Offering**

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| | |
|:---|:---|
| ***Issuer:*** | Genprex, Inc. |
| ***Common stock offered by u***s***:*** | 377,780 shares. |
| ***Common stock outstanding before this offering:*** | 1,254,061 shares. |
| ***Common Stock to be outstanding immediately after this offering:*** | 1,631,841 shares.<sup>(1)</sup> |
| ***Use of proceeds:*** | We estimate the net proceeds from this offering will be approximately $3.0 million, excluding any proceeds that may be received upon the cash exercise the warrants to be issued to the placement agent or its designees as compensation in connection with this offering or any exercise of the Private Placement Warrants issued in the concurrent private placement transaction, and after deducting the placement agent's fees and estimated offering expenses payable by us. We intend to use the net proceeds from this offering, for working capital and general corporate purposes. See "Use of Proceeds" on page S-12 of this prospectus supplement. |
| ***Risk Factors:*** | Investing in our securities involves a high degree of risk. See "Risk Factors" beginning on page S-8 of this prospectus supplement and other information included or incorporated by reference into this prospectus supplement for a discussion of factors you should carefully consider before investing in our securities. |
| ***Nasdaq Capital Market Symbol:*** | GNPX |
| ***Concurrent private placement*** | In a concurrent private placement, we are selling to the purchasers, warrants to purchase 200% of the number of our shares of common stock purchased by such investor in this offering, or warrants to purchase up to 755,560 shares of common stock (the "Private Placement Warrants"). We will receive proceeds from the concurrent private placement transaction of the Private Placement Warrants solely to the extent such warrants are exercised for cash. The Private Placement Warrants are immediately exercisable at an exercise price of $8.75 per share and will expire on the date that is twenty-four (24) months from the effective date of a resale registration statement registering the resale of all of the shares of common stock issued and issuable upon exercise of the Private Placement Warrants. The Private Placement Warrants and the common shares issuable upon the exercise of the Private Placement Warrants are not being offered pursuant to this prospectus supplement and the accompanying prospectus and are being offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act and/or Rule 506(b) of Regulation D promulgated thereunder. There is no established public trading market for the Private Placement Warrants, and we do not expect a market to develop. We do not intend to apply for listing of the Private Placement Warrants on any securities exchange or other nationally recognized trading system. Without an active trading market, the liquidity of the Private Placement Warrants will be limited. See "Private Placement Transaction – Private Placement Warrants." |

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| | |
|:---|:---|
| ***Listing:*** | Our common stock is listed on The Nasdaq Capital Market under the symbol "GNPX." There is no established public trading market for the Warrants or the Placement Agent Warrants, and we do not expect a market to develop. In addition, we do not intend to apply for listing of any such warrants on The Nasdaq Capital Market or on any national securities or other national recognized trading system. Without an active trading market, the liquidity of the Warrants and the Placement Agent Warrants will be limited. |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The number of shares of our common stock to be outstanding immediately after this offering is based on 1,254,061 shares outstanding as of October 27, 2025 and excludes, as of that date, the following:

● 5,705 shares of our common stock issuable upon the exercise of outstanding stock options at a weighted-average exercise price of $5,473.14 per share;

● 1,360 shares of our common stock underlying unvested restricted stock units;

● 541,469 shares of our common stock issuable upon the exercise of outstanding warrants at a weighted-average exercise price of $46.80 per share;

● 104 shares of our common stock reserved for issuance under our 2018 Employee Stock Purchase Plan;

● 144,588 shares of our common stock reserved for issuance under our amended and restated 2018 Equity Incentive Plan; and

● shares of common stock issuable upon any exercise of the warrants to purchase 22,667 shares of common stock be issued to the placement agent or its designees as compensation in connection with this offering, or any exercise of the Private Placement Warrants to purchase 755,560 shares of common stock issued in the concurrent private placement transaction.

Unless otherwise indicated, all information in this prospectus supplement, including share and per share amounts, assumes no exercise of (a) the warrants to be issued to the placement agent or its designees as compensation in connection with this offering and (b) the Private Placement Warrants issued in the concurrent private placement. See "Private Placement Transaction – Private Placement Warrants" for a description of the Private Placement Warrants issued in the concurrent private placement transaction, and also see "Plan of Distribution" for a description of the warrants to be issued to the placement agent or its designees in connection with this offering.

Except as otherwise indicated, the information in this prospectus supplement gives effect to (i) the one-for-fifty (1-for-50) reverse stock split of our common stock effected on October 21, 2025, and (ii) the one-for-forty (1-for-40) reverse stock split of our common stock effected on February 2, 2024.

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**RISK FACTORS**

*Investing in our securities involves a high degree of risk. Prior to making a decision about investing in our securities offered by this prospectus supplement, you should carefully consider the specific risks described below and contained in our annual report on Form 10-K for the fiscal year ended December 31, 2024 under the heading* "*Item 1A. Risk Factors,*" *in our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2025 and June 30, 2025, and in our Current Reports on Form 8-K filed since December 31, 2024, as well as other information contained in this prospectus supplement and contained or to be contained in our filings with the SEC and incorporated by reference in this prospectus supplement. For a description of these reports and documents, and information about where you can find them, see* "*Where You Can Find More Information*" *and* "*Incorporation of Documents by Reference.*" *If any of the risks or uncertainties described in our SEC filings or any prospectus supplement or any additional risks and uncertainties actually occur, our business, financial condition and results of operations could be materially and adversely affected.*

**Risks Related to this Offering** 

***We will have broad discretion in the use of the net proceeds from this offering and may not use them effectively.***

We currently intend to use the net proceeds of this offering for working capital and general corporate purposes, which may include capital expenditures, research and development expenditures, manufacturing expenditures, regulatory affairs expenditures, clinical trial expenditures, acquisitions of new technologies and investments, business combinations and the repayment, refinancing, redemption or repurchase of indebtedness or capital stock, as further described in the section of this prospectus supplement entitled "Use of Proceeds." We will have broad discretion in the application of the net proceeds in the category of other working capital and general corporate purposes and investors will be relying on the judgment of our management regarding the application of the proceeds of this offering.

The precise amount and timing of the application of these proceeds will depend upon a number of factors, such as the timing and progress of our research and development efforts, our funding requirements and the availability and costs of other funds. As of the date of this prospectus supplement, we cannot specify with certainty all of the particular uses for the net proceeds to us from this offering. Depending on the outcome of our efforts and other unforeseen events, our plans and priorities may change and we may apply the net proceeds of this offering in different manners than we currently anticipate.

The failure by our management to apply these funds effectively could harm our business, financial condition and results of operations. Pending their use, we may invest the net proceeds from this offering in short-term, interest-bearing instruments. These investments may not yield a favorable return to our stockholders.

***Investors in this offering will suffer immediate and substantial in the net tangible book value per common share.***

Because the effective offering price for the shares of common stock offered pursuant to this prospectus supplement is substantially higher than the net tangible book value of each outstanding common share, a purchaser of securities in this offering will experience immediate and substantial dilution on the book value basis. Based on the effective offering price of $9.00 per common share and our pro forma net tangible book value as of June 30, 2025, of $5.95 per share (which retrospectively adjusts our net tangible book value as of June 30, 2025 to give effect to the 1-for-50 reverse stock split of our common stock implemented October 21, 2025, and additionally gives effect to sales of common stock after June 30, 2025 pursuant to our 2025 ELOC Facility with Lincoln Park, and pursuant to our October 2025 Financing), if you purchase shares of common stock in this offering you will suffer immediate and substantial dilution of approximately $3.05 per share. If the holders of outstanding options, warrants, or other securities convertible into our common stock exercise those options, warrants, or other such securities at prices below the offering price, you will incur further dilution. Please see the section entitled "Dilution" for a more detailed discussion of the dilution you will incur in this offering.

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***If you purchase securities in this offering, you may also experience future dilution as a result of future equity offerings.***

In order to raise additional capital, we may in the future offer additional shares of our common stock and/or other securities convertible into or exchangeable for our common stock at prices that may not be the same as the effective price per share of common stock in this offering. We may sell shares or other securities in any other offering at a price per share that is less than the effective price per share paid by investors in this offering, and investors purchasing shares or other securities in the future could have rights superior to existing stockholders. The price per share at which we sell additional shares of our common stock, or securities convertible or exchangeable into common stock, in future transactions may be higher or lower than the effective price per share paid by investors in this offering.

***We will require substantial additional funding to continue operations and to pursue our business plan. We may obtain such funding through means including further issuances of our common stock or other securities, which may negatively affect the market price of our common stock.***

We will require substantial additional funding to continue operations and to pursue our business plan. To continue operations and operate our business in accordance with our plan, we may obtain such funding by raising additional capital through means including further sales of our common stock, securities exercisable for or convertible into our common stock or debt securities pursuant to which interest and/or principal payments may be satisfied through the issuance of our common stock. We may issue substantial additional quantities of common stock pursuant to our Purchase Agreement with Lincoln Park governing our 2025 ELOC Facility, and/or pursuant to our "at-the-market" offering program pursuant to which the placement agent serves as sales agent (see "Plan of Distribution - Other Relationships", below). Future sales of such securities or common stock could adversely affect the prevailing market price of our stock and our ability to raise capital in the future, and may cause you to incur additional dilution.

***There is no established public trading market for the Private Placement Warrants being offered in the concurrent private placement.***

There is no established public trading market for the Private Placement Warrants being offered in the private placement being conducted concurrently with this offering, nor is there any established public trading market for the placement agent warrants to be issued to the placement agent or its designees as compensation in connection with this offering, and we do not expect a market for any such warrants to develop. In addition, we do not intend to apply to list the Private Placement Warrants issued in the concurrent private placement or the placement agent warrants on any national securities exchange or other nationally recognized trading system, including The Nasdaq Capital Market. Without an active market, the liquidity of the Private Placement Warrants and the placement agent warrants will be limited.

***The Private Placement Warrants being offered in the concurrent private placement are speculative in nature, and may not have value.***

The Private Placement Warrants being offered in the private placement being conducted concurrently with this offering do not confer any rights of common stock ownership on their holders, but rather merely represent the right to acquire shares of common stock at a fixed price for a limited period of time. Moreover, following this offering of our common stock and the concurrent private placement of the Private Placement Warrants, the market value of the Private Placement Warrants, if any, will be uncertain and there can be no assurance that the market value of the Private Placement Warrants will equal or exceed their imputed offering price. The Private Placement Warrants will not be listed or quoted for trading on any market or exchange, and we do not intend to apply for listing of the Private Placement Warrants on any securities exchange or other nationally recognized trading system. There can be no assurance that the market price of our common stock will ever equal or exceed the exercise price of the Private Placement Warrants, and consequently, the Private Placement Warrants may expire valueless.

***Holders of our warrants will have no rights as stockholders until they acquire shares of our common stock, if ever.***

If you acquire Private Placement Warrants in the private placement being conducted concurrently with this offering, you will have no rights with respect to our common stock until you acquire shares of such common stock upon exercise of your Private Placement Warrants. Upon exercise of your Private Placement Warrants, you will be entitled to exercise the rights of a common stockholder only as to matters for which the record date occurs after the exercise date.

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***We do not intend to pay dividends in the foreseeable future.***

We have never paid cash dividends on our common stock. We currently intend to retain our future earnings, if any, to finance the operation and growth of our business and currently do not plan to pay any cash dividends in the foreseeable future.

***Sales of a significant number of shares of our common stock in the public markets, or the perception that such sales could occur, could depress the market price of our common stock.***

Sales of a substantial number of shares of our common stock in the public markets, or the perception that such sales could occur, could depress the market price of our common stock and impair our ability to raise capital through the sale of additional equity securities. We may issue and sell additional shares of our common stock in the public markets including, without limitation, through our "at-the-market" offering program pursuant to our Sales Agreement with the serving as sales agent (see "Plan of Distribution - Other Relationships", below), underwritten public offerings, privately negotiated transactions, block trades, or any combination of the above. We may issue substantial additional quantities of common stock pursuant to our Purchase Agreement with Lincoln Park governing our 2025 ELOC Facility. We cannot predict the effect that future sales of our common stock would have on the market price of our common stock. As of October 27, 2025, we had 1,254,061 shares of common stock outstanding, all of which shares were, and continue to be, eligible for sale in the public market, subject in some cases to compliance with the requirements of Rule 144, including the volume limitations and manner of sale requirements. In addition, all of the shares of common stock offered under this prospectus supplement and the accompanying prospectus will be (and all of the shares of common stock issuable upon any exercise of the Private Placement Warrants and the placement agent warrants will be, once a resale registration statement is declared effective will be), freely tradable without restriction or further registration upon issuance.

***We have limited available operating capital, and we will be required to raise additional capital shortly after the current offering.***

Following this offering, we expect to have sufficient funds for our operations through approximately December 2025. We have based our estimates as to how long we expect we will be able to fund our operations on assumptions that may prove to be wrong, and we could use our available capital resources sooner than we currently expect, in which case we would be required to obtain additional financing sooner than currently projected. Such financing may not be available to us on acceptable terms, or at all. If we are unable to raise sufficient capital when needed or we incur unanticipated expenses, we would need to materially curtail our operations and expenses, which could have a material adverse effect on our financial position, results of operations, cash flows, and ability to achieve our intended business objectives. These matters raise substantial doubt about our ability to continue as a going concern, and if we are unable to raise required capital, we may be unable to continue the operation of our business as currently planned or to seek strategic alternative transactions.

***We are currently listed on The Nasdaq Capital Market. If we fail to regain and maintain compliance with the continued listing requirements of Nasdaq, our common stock may be delisted and the price of our common stock and our ability to access the capital markets could be negatively impacted.***

Our common stock is currently listed for trading on Nasdaq. On February 7, 2025, we received a notice from the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") indicating that we are not in compliance with the requirement under Nasdaq Listing Rule 5550(a)(2) to maintain a minimum bid price of $1.00 per share for continued listing on Nasdaq (the "Bid Price Requirement"). We were provided a compliance period of 180 calendar days from the date of the notice, or until August 6, 2025, to regain compliance with the Bid Price Requirement, pursuant to Nasdaq Listing Rule 5810(c)(3)(A). On August 12, 2025, we received a letter from Nasdaq indicating that, based upon our not having regained compliance with the Bid Price Requirement and our ineligibility for a second 180 calendar day compliance period, the Staff had determined to delist our securities from Nasdaq unless we timely request a hearing before the Nasdaq Hearings Panel (the "Panel"). Additionally, on August 19, 2025, we received a letter from the Nasdaq Staff indicating that we were not in compliance with the minimum stockholders' equity requirement for continued listing on the Nasdaq Capital Market, under Listing Rule 5550(b)(1) (the "Minimum Stockholders' Equity Requirement"), because our stockholders' equity of $1,391,195 as reported in our Quarterly Report on Form 10-Q for the period ended June 30, 2025 was below the required minimum of $2.5 million, and because, as of August 19, 2025, we did not meet the alternative compliance standards relating to market value of listed securities or net income from continuing operations. The Staff indicated that this non-compliance with the Minimum Stockholders' Equity Requirement serves as an additional and separate basis for delisting our securities from Nasdaq. On August 19, 2025, we timely requested a hearing before the Panel which stayed any suspension or delisting action by the Staff. At the Panel hearing, we requested an extension within which to evidence compliance with the Bid Price Requirement and the Minimum Stockholders' Equity Requirement and the Staff has granted our request for an exception to demonstrate compliance with the Bid Price Requirement and Minimum Stockholders' Equity Requirement for continued listing through October 31, 2025 (the "Exception").

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We intend to continue to take definitive steps in an effort to evidence compliance with the Bid Price Requirement and the Minimum Stockholders' Equity Requirement and the other Nasdaq listing requirements, including by the implementation of the one-for-fifty (1:50) reverse stock split, which we implemented effective as of October 21, 2025. To regain compliance with the Bid Price Requirement, the closing bid price of our Common Stock must be at least $1.00 for a minimum of 10 consecutive business days, subject to the Staff's discretion to extend such 10-day period. The announcement and implementation of the reverse stock split could negatively affect the price of our common stock. We cannot assure you that the prices for shares of the common stock after the reverse stock split will increase proportionately to prices for shares of our common stock immediately before the reverse stock split. Furthermore, even if the market price of our common stock does rise following the reverse stock split, we cannot assure you that the market price of our common stock immediately after the proposed reverse stock split will be maintained for any period of time. There is also the possibility that liquidity may be adversely affected by the reduced number of shares which are now issued and outstanding following implementation of the reverse stock split is effected, particularly if the price per share of our common stock begins a declining trend following implementation of the reverse stock split. Accordingly, our total market capitalization after the reverse stock split may be lower than the market capitalization before the reverse stock split.

We will continue to monitor our stockholders' equity and may, if appropriate, consider available options, including raising additional capital, to regain compliance with the Minimum Stockholders' Equity Requirement. If we seek to raise additional capital through the issuance of equity, whether through this offering or other issuances of equity, the issuance may result in dilution, and the announcement or implementation of such fundraising could negatively affect the price of our securities.

Pursuant to the Exception, we are required to, and fully intend to, provide the Panel with prompt notification of any significant events that occur, including any event that may call into question our ability to satisfy the terms of the Exception. If such events do occur, we may request a further extension beyond October 31, 2025 to regain compliance with either or both of the Bid Price Requirement and the Minimum Stockholders' Equity Requirement. The Panel has reserved the right to reconsider the terms of the Exception based on any event, condition or circumstance that exists or develops that would, in the Panel's opinion, make continued listing of our securities on Nasdaq inadvisable or unwarranted. There can be no assurance that the Panel would exercise their discretion to grant an extension beyond October 31, 2025 or that we will be able to evidence compliance with the Bid Price Requirement, the Minimum Stockholders' Equity Requirement and the other Nasdaq listing requirements within any extension period that has been or may be granted by the Panel or that we will be able to maintain compliance.

We must satisfy Nasdaq's continued listing requirements, including, among other things, a minimum stockholders' equity of $2.5 million and a minimum closing bid price of $1.00 per share or risk delisting, which could have a material adverse effect on our business. If our common stock is delisted from Nasdaq, it could materially reduce the liquidity of our common stock and result in a corresponding material reduction in the price of our common stock as a result of the loss of market efficiencies associated with Nasdaq and the loss of federal preemption of state securities laws. In addition, delisting could harm our ability to raise capital through alternative financing sources on terms acceptable to us, or at all, and may result in the potential loss of confidence by investors, suppliers, customers and employees and fewer business development opportunities. If our common stock is delisted, it could be more difficult to buy or sell our common stock or to obtain accurate quotations, and the price of our common stock could suffer a material decline. Delisting could also impair our ability to raise capital on acceptable terms, if at all.

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**USE OF PROCEEDS**

We estimate that the net proceeds from the sale of the common stock in this offering will be approximately $3.0 million, after deducting the placement agent's fees and estimated offering expenses payable by us, and excluding the proceeds, if any, from any exercise of the warrants to be issued to the placement agent or its designees as compensation in connection with this offering or any exercise of the Private Placement Warrants issued in the concurrent private placement transaction. If all of the Private Placement Warrants issued in the concurrent private placement, and all of the placement agent warrants issued to the placement agent or its designees as compensation in connection with this offering, are fully exercised for cash, we would receive additional gross proceeds of approximately $6.6 million. No assurance can be given as to the number of warrants that may be exercised for cash, if any. We currently intend to use the net proceeds from this offering, if any, for working capital and general corporate purposes, which may include capital expenditures, research and development expenditures, manufacturing expenditures, regulatory affairs expenditures, clinical trial expenditures, acquisitions of new technologies and investments, business combinations and the repayment, refinancing, redemption or repurchase of indebtedness or capital stock.

This expected use of net proceeds from this offering and our existing cash and cash equivalents represents our intentions based upon our current plans and business conditions, which could change in the future as our plans and business conditions evolve. The timing and amount of our actual expenditures will be based on many factors, including cash flows from operations and the anticipated growth of our business. As of the date of this prospectus supplement, we cannot specify with certainty all of the particular uses for the net proceeds to us from this offering. As a result, our management will have broad discretion regarding the timing and application of the net proceeds from this offering. Pending their ultimate use, we intend to invest the net proceeds in short-term, investment-grade, interest-bearing instruments.

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**DILUTION**

If you invest in our securities in this offering, your interest will be diluted immediately to the extent of the difference between the effective offering price per share and the as-adjusted net tangible book value per share of common stock after this offering.

As of June 30, 2025, we had a historical net tangible book value of $1,391,195 million, or $2.10 per share of common stock, based on 662,901 shares of common stock outstanding at June 30, 2025 (as retrospectively adjusted to give effect to the 1-for-50 reverse stock split of our common stock implemented October 21, 2025). Our historical net tangible book value per share is the amount of our total tangible assets less our total liabilities, at June 30, 2025, divided by 662,901 shares of common stock.

After giving effect to (i) the sale of 347,177 shares of common stock as "Purchase Shares" pursuant to our Purchase Agreement with Lincoln Park governing our 2025 ELOC Facility for net proceeds of $2,993,742 after June 30, 2025 (the "ELOC Sales") and (ii) the sale of 243,622 shares of common stock at an offering price of $11.21 per share in our October 2025 Registered Direct Offering, and October 2025 Private Warrants to purchase up to 487,244 shares of common stock in the concurrent October 2025 Private Placement, in each case after June 30, 2025 (the "October 2025 Financing Sales", and together with the ELOC Sales, the "Sales") (and assuming no exercise of the October Private Warrants, no value is attributable to the October Private Warrants, and that the October Private Warrants are treated as equity, and after deducting placement agent fees and estimated offering expenses payable by us), our pro forma tangible net book value as of June 30, 2025 would have been approximately $6.7 million, or approximately $5.37 per share of common stock, an increase of approximately $3.27 per share of common stock.

After giving effect to the sale of (i) 377,780 shares of common stock at an offering price of $9.00 per share in this offering, and Private Placement Warrants to purchase up to 755,560 shares of common stock in the concurrent private placement, and assuming no exercise of the Private Placement Warrants, no value is attributable to the Private Placement Warrants, and that the Private Placement Warrants are treated as equity, and after deducting placement agent fees and estimated offering expenses payable by us, our pro forma adjusted net tangible book value as of June 30, 2025 would have been approximately $9.7 million, or approximately $5.95 per share of common stock. This represents an immediate increase in as adjusted net tangible book value of approximately $0.58 per share of common stock to our existing security holders and an immediate dilution in as adjusted net tangible book value of approximately $3.05 per common share to purchasers of securities in this offering, as illustrated by the following table:

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| | | |
|:---|:---|:---|
| Effective price per common share in this offering |  | $9.0 |
| Historical net tangible book value per share of common stock as of June 30, 2025 | $2.1 |  |
| Increase in net tangible book value attributable to the Sales | $3.27 |  |
| Pro forma net tangible book value after giving effect to the Sales | $5.37 |  |
| Increase in pro forma net tangible book value per share attributable to this offering | $0.58 |  |
| Pro forma adjusted net tangible book value per share as of June 30, 2025 after giving effect to this offering |  | $5.95 |
| Dilution per share to new investors participating in this offering |  | $3.05 |

---

The table and discussion above are based on 662,901 shares of our common stock outstanding as of June 30, 2025 and exclude, as of such date, the following (all share and per share data as retrospectively adjusted to give effect to the 1-for-50 reverse stock split of our common stock implemented October 21, 2025):

● 5,705 shares of our common stock issuable upon the exercise of outstanding stock options at a weighted-average exercise price of $5,473.14 per share;

● 1,600 shares of our common stock underlying unvested restricted stock units;

● 39,633 shares of our common stock issuable upon the exercise of outstanding warrants at a weighted-average exercise price of $503.75 per share;

● 104 shares of our common stock reserved for issuance under our 2018 Employee Stock Purchase Plan;

● 144,588 shares of our common stock reserved for issuance under our amended and restated 2018 Equity Incentive Plan; and

● the shares of common stock issuable upon any exercise of the warrants to be issued to the placement agent or its designees as compensation in connection with this offering.

To the extent that outstanding options or warrants have been or may be exercised, new equity awards were or are issued, or we otherwise issued or issue additional shares of common stock, including in our "at the market" offering program or 2025 ELOC Facility, investors purchasing our common stock in this offering may experience further dilution.

------

**DESCRIPTION OF THE SECURITIES WE ARE OFFERING**

In this offering, we are offering through this prospectus supplement and the accompanying prospectus 377,780 shares of our common stock.

**Common Stock**

As of the date of this prospectus supplement, our authorized capital stock consisted of 200,000,000 shares of common stock, par value $0.001 per share, and 10,000,000 shares of preferred stock, par value $0.001 per share. Our Board may establish the rights and preferences of the preferred stock from time to time. As of October 27, 2025 (after giving effect to the previously disclosed 1-for-50 reverse stock split of our common stock, but prior to any rounding applied to any fractional shares resulting from the reverse stock split, and before giving effect to the issuance of the securities in this offering), there were 1,254,061 shares of our common stock issued and outstanding and no shares of preferred stock issued and outstanding.

The material terms and provisions of our common stock and each other class of our securities that qualifies or limits our common stock are described under the caption "*Description of Capital Stock*" in the accompanying prospectus. Our common stock is listed on The Nasdaq Capital Market under the symbol "GNPX." The transfer agent for our common stock is VStock Transfer, LLC.

**PRIVATE PLACEMENT TRANSACTION** – **PRIVATE PLACEMENT WARRANTS**

**Concurrent Private Placement Transaction**

Concurrently with the sale of common stock in this offering, we will issue to the investors in this offering warrants (the "Private Placement Warrants") to purchase up to an aggregate of 755,560 shares of common stock at an exercise price equal to $8.75 per share (subject to standard adjustments for stock splits, stock dividend, rights offerings and pro rata distributions). The Private Placement Warrants are being sold pursuant to the concurrent private placement to investors participating in this offering, together with the shares of common stock being sold in this offering, and we will receive additional proceeds from the Private Placement Warrants to the extent the Private Placement Warrants are exercised for cash.

The Private Placement Warrants and the common stock issuable upon the exercise of such Private Placement Warrants are not being registered under the Securities Act, are not being offered pursuant to this prospectus supplement and the accompanying prospectus and instead are being offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act and/or Rule 506(b) of Regulation D promulgated thereunder. Accordingly, the purchasers may only sell common stock issued upon exercise of the Private Placement Warrants pursuant to an effective registration statement under the Securities Act covering the resale of those shares, an exemption under Rule 144 under the Securities Act or another applicable exemption under the Securities Act.

The summary below is not complete and is subject to, and qualified in its entirety by, the provisions of the Private Placement Warrants, which will be filed with the SEC as an exhibit to a Current Report on Form 8-K in connection with the concurrent private placement and incorporated by reference into the registration statement of which this prospectus supplement and the accompanying prospectus form a part. Prospective investors should carefully review the terms and provisions of the form Private Placement Warrants for a complete description of the terms and conditions of the Private Placement Warrants.

**Private Placement Warrants**

The following is a summary of the material terms and provisions of the Private Placement Warrants that are being offered in the private placement transaction being conducted concurrently with this offering. This summary is subject to and qualified in its entirety by the form of Private Placement Warrant, which has been provided to the investors in this offering and which will be filed with the SEC as an exhibit to a Current Report on Form 8-K in connection with the concurrent private placement and incorporated by reference into the registration statement of which this prospectus supplement and the accompanying prospectus form a part. Prospective investors should carefully review the terms and provisions of the form of Private Placement Warrant for a complete description of the terms and conditions of the Private Placement Warrants.

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*Duration and Exercise Price*

The Private Placement Warrants offered in the private placement conducted concurrently with this offering will have an exercise price of $8.75 per share. The Private Placement Warrants are exercisable upon issuance and will be exercisable date that is twenty-four (24) months from the effective date of a resale registration statement registering the resale of all of the shares of common stock issued and issuable upon exercise of the Private Placement Warrants. The exercise price and number of shares of common stock issuable upon exercise are subject to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar events affecting our shares of common stock. Private Placement Warrants will be issued in certificated form only.

*Exercisability*

The Private Placement Warrants will be exercisable, at the option of each holder, in whole or in part, by delivering to us a duly executed exercise notice accompanied by payment in full for the number of shares of common stock purchased upon such exercise (except in the case of a cashless exercise where permitted under the terms of the Private Placement Warrants as discussed below). A holder (together with its affiliates, other persons acting as a group with such persons and any other persons whose beneficial ownership of our common stock would or could be aggregated with the holder's for purposes of Section 13(d) of the Exchange Act) may not exercise any portion of such holder's Private Placement Warrants to the extent that the holder would own more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding shares of common stock immediately after exercise, except that upon prior notice from the holder to us, the holder may increase or decrease this beneficial ownership limitation to a percentage that in no event exceeds 9.99% of the number of shares of our common stock outstanding immediately after giving effect to the issuance of Private Placement Warrant shares upon exercise of the holder's Private Placement Warrant, as such percentage ownership is determined in accordance with the terms of the Private Placement Warrants, and the provisions of the beneficial ownership limitation contained in the warrants shall continue to apply.

*Cashless Exercise*

At any time after the six (6) month anniversary of the issue date of the Private Placement Warrants, if at the time of exercise of the Warrants there is no effective registration statement registering, or the prospectus contained therein is not available for resale of the Private Placement Warrant shares by, the holders, then the Warrants will be exercisable, in whole or in part, at such time, by means of a "cashless exercise" whereby the holder will receive upon such exercise a net number of common shares determined according to a formula set forth in the Private Placement Warrants.

*Fundamental Transactions*

In the event of any fundamental transaction, as described in the Private Placement Warrants and generally including any merger or consolidation with or into another entity, sale or other disposition of all or substantially all of our assets, tender offer or exchange offer which is completed pursuant to which holders of our common stock sell, tender or exchange their shares and has been accepted by holders of 50% or more of the outstanding common stock or 50% or more of our voting power, or certain reclassifications, reorganizations or recapitalizations of our shares of common stock, then upon any subsequent exercise of a Private Placement Warrant, the holder will have the right to receive as alternative consideration, for each share of common stock that would have been issuable upon such exercise immediately prior to the occurrence of such fundamental transaction, the number of shares of common stock of the successor or acquiring corporation or of our company, if it is the surviving corporation, and any additional consideration receivable as a result of such transaction by a holder of the number of shares of common stock for which the Private Placement Warrant is exercisable immediately prior to such event. In certain circumstances, the holder will have the right to receive the Black Scholes Value of the Private Placement Warrant calculated pursuant to a formula set forth in the Private Placement Warrants and payable in the form of consideration as described in the Private Placement Warrants.

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*Transferability*

In accordance with its terms and subject to applicable laws, a Private Placement Warrant may be transferred at the option of the holder upon surrender of the Private Placement Warrant to us together with the appropriate instruments of transfer and payment of funds sufficient to pay any transfer taxes (if applicable).

*Resale/Registration Rights*

Under the purchase agreement pursuant to which the Private Placement Warrants were sold (the "Purchase Agreement"), we agreed that as soon as practicable (and in any event within 30 calendar days of the date of the Purchase Agreement), we would file a registration statement on Form S-1, providing for the resale of the shares of common stock issued and issuable upon exercise of the Private Placement Warrants, use commercially reasonable efforts to cause such registration statement to become effective within 60 calendar days following the date of the Purchase Agreement (or within 90 calendar days following the date of the Purchase Agreement in case of "full review" of such registration statement by the SEC) and to keep such registration statement effective at all times until no investor owns any Private Placement Warrants or shares of common stock issuable upon exercise thereof.

*Fractional Shares*

No fractional shares of common stock will be issued upon the exercise of the Private Placement Warrants. Rather, the number of shares of common stock to be issued will, at our election, either be rounded up to the nearest whole number or we will pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the exercise price.

*Trading Market*

There is no established trading market for the Private Placement Warrants, and we do not expect a market to develop. We do not intend to apply for a listing for the Private Placement Warrants on any securities exchange or other nationally recognized trading system. Without an active trading market, the liquidity of the Private Placement Warrants will be limited.

*Rights as a Stockholder*

Except as otherwise provided in the Private Placement Warrants or by virtue of the holders' ownership of shares of common stock, the holders of Private Placement Warrants do not have the rights or privileges of holders of our shares of common stock, including any voting rights, until such warrant holders exercise their Private Placement Warrants.

**Placement Agent Warrants**

We have also agreed to issue to the placement agent (or its designees) warrants (the "Placement Agent Warrants") to purchase up to 22,667 shares of common stock. The Placement Agent Warrants will be exercisable immediately and will have substantially the same terms as the Private Placement Warrants described above, except that the placement agent warrants will have an exercise price of $11.25 per share and a termination date that will be the earlier of (i) twenty-four (24) months from the effective date of the resale registration statement covering the resale of the shares of common stock underlying the Private Placement Warrants and (ii) October 28, 2030 (being the date that is five years from the commencement of the sales pursuant to this offering). The Placement Agent Warrants and the common stock issuable upon the exercise of such Placement Agent Warrants are not being registered under the Securities Act, are not being offered pursuant to this prospectus supplement and the accompanying prospectus and instead are being offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act and/or Rule 506(b) of Regulation D promulgated thereunder.

**Listing on The Nasdaq Capital Market**

Our common stock is listed on The Nasdaq Capital Market under the symbol "GNPX." There is no established public trading market for the Private Placement Warrants or the Placement Agent Warrants, and we do not expect a market to develop. We do not intend to apply for a listing for the any such warrants on any securities exchange or other nationally recognized trading system. Without an active trading market, the liquidity of the Private Placement Warrants and the Placement Agent Warrants will be limited.

------

**PLAN OF DISTRIBUTION**

We have engaged H.C. Wainwright & Co., LLC (the "placement agent") to act as our exclusive placement agent, on a reasonable best-efforts basis, in connection with this offering pursuant to this prospectus supplement and accompanying prospectus. The terms of this offering are subject to market conditions and negotiations between us, the placement agent, and prospective investors. Our engagement letter with the placement agent does not give rise to any commitment by the placement agent to purchase any of the securities, and the placement agent will have no authority to bind us by virtue of the engagement agreement. The placement agent is not purchasing the securities offered by us in this offering and is not required to sell any specific number or dollar amount of securities but will assist us in this offering on a reasonable best-efforts basis. Further, the placement agent does not guarantee that it will be able to raise new capital in any prospective offering. The placement agent may engage sub-agents or selected dealers to assist with the offering. The placement agent has no commitment to buy any of the securities offered pursuant to this prospectus supplement and accompanying prospectus (or to buy any of the securities offered in the private placement being conducted concurrently with this offering). We have entered into a securities purchase agreement directly with the investors in connection with this offering (which securities purchase agreement also governs the terms of the concurrent private placement), and we will only sell to investors who have entered into the securities purchase agreement. We may not sell the entire amount of shares of our common stock offered pursuant to this prospectus supplement (and we may not sell the entire amount of Private Placement Warrants offered in the concurrent private placement).

We expect to deliver the shares of our common stock being offered pursuant to this prospectus supplement on or about October 29, 2025, subject to satisfaction of customary closing conditions.

We have agreed to indemnify the placement agent against specified liabilities relating to or arising out of the agent's activities as placement agent.

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| | | |
|:---|:---|:---|
|  | **Per Share**  | **Total** |
| Public Offering Price | $9.00 | $3400020.00 |
| Placement Agent Fees(1) | $0.63 | $238001.40 |
| Proceeds to Us, before expenses(2) | $8.37 | $3162018.60 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) In addition, we have agreed to (i) pay the placement agent a management fee of 1.0% of the aggregate gross proceeds raised in this offering, (ii) issue the placement agent or its designees warrants to purchase a number of shares of common stock equal to 6.0% of the aggregate number of shares of common stock sold in this offering and (iii) reimburse certain expenses of the placement in connection with this offering. In addition, in connection with any future exercise of the Private Placement Warrants, we have agreed to (A) pay the Placement Agent (i) a cash fee equal to 7.0% of the aggregate gross exercise price paid in cash with respect to the exercise of such Private Placement Warrants and (ii) a management fee equal to 1.0% of the aggregate gross exercise price paid in cash with respect to the exercise of such Private Placement Warrants and (B) issue to the Placement Agent or its designees additional placement agent warrants to purchase that number of shares equal to 6.0% of the aggregate number of shares of common stock underlying such Private Placement Warrants that have been exercised. See "Plan of Distribution" beginning on page S-17 for more information regarding the placement agent's compensation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The amount of the offering proceeds to us presented in this table does not give effect to any exercise of any Private Placement Warrants or the warrants to be issued to the placement agent.

**Fees and Expenses**

We have agreed to pay the placement agent in connection with this offering (i) a cash fee equal to 7.0% of the aggregate gross proceeds of this offering, (ii) a management fee equal to 1.0% of the aggregate gross proceeds of this offering, (iii) $35,000 for fees and expenses of the placement agent's counsel and other out of pocket expenses, (iv) a non-accountable expense allowance of $15,000 and (v) $10,000 for the clearing expenses.

We estimate that the total expenses payable by us in connection with this offering, excluding the placement agent fees and expenses referred to above, will be approximately $100,000.

**Placement Agent Warrants**

In addition, we have agreed to issue to the placement agent, or its designees, at the closing of this offering, Placement Agent Warrants to purchase 6.0% of the number of shares of our common stock sold in this offering (or warrants to purchase up to 22,667 shares of our common stock), at an exercise price of $11.25 per share. The Placement Agent Warrants and the shares of our common stock issuable upon exercise thereof are not being registered by, and are not covered by, this prospectus supplement and the accompanying prospectus.

The Placement Agent Warrants will be exercisable immediately will expire on the earlier of (i) twenty-four (24) months from the effective date of the resale registration statement covering the resale of the shares of common stock underlying the Private Placement Warrants and (ii) October 28, 2030 (being the date that is five years from the commencement of the sales pursuant to this offering).

Except as provided above, the Placement Agent Warrants will have substantially the same terms as the Private Placement Warrants issued in the private placement being conducted concurrently with this offering.

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**Tail Financing Payments**

We have also agreed to pay the placement agent, subject to certain exceptions, a tail fee equal to the cash and warrant compensation in this offering, if any investor, who was contacted or introduced to us by the placement agent during the term of its engagement, provides us with capital in any public or private offering or other financing or capital raising transaction during the 12-month period following the termination or expiration of our engagement letter with the placement agent.

**Right of First Refusal**

In addition, we have granted a right of first refusal to the placement agent, subject to certain exceptions, pursuant to which it has the right to act as the sole book-running manager, sole underwriter or sole placement agent, as applicable, if we raise capital through certain public or private offerings of equity or debt securities (including any "at-the-market" facility but excluding an "equity line of credit" facility) at any time prior to the 9-month anniversary of the consummation date of this offering.

**Lock-up Agreement**

We have agreed to be subject to a lock-up for a period of 5 days following the date of closing of the offering pursuant to this prospectus supplement and accompanying prospectus. This means that, during the applicable lock-up period, we may not issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of common stock or their equivalents, subject to certain exceptions; including that this restriction shall not apply with respect to the filing of any amendment or supplement to an existing registration statement for an "at-the-market" ("ATM") offering with the placement agent. In addition, subject to certain exceptions, we have agreed to not issue any securities that are subject to a price reset based on the trading prices of our common stock or upon a specified or contingent event in the future, or enter into any agreement to issue securities at a future determined price (a "Variable Rate Transaction") for a period of twelve (12) months following the closing date of this offering; provided that notwithstanding the foregoing, after 5 days following the closing date of this offering (or such earlier date contemplated by the immediately preceding sentence), the issuance of shares in an ATM offering with the placement agent as sales agent shall not be deemed a Variable Rate Transaction, and the issuance of shares pursuant to our "equity line of credit" with Lincoln Park Capital Fund, LLC shall not be deemed a Variable Rate Transaction.

**Regulation M**

The placement agent may be deemed to be an underwriter within the meaning of Section 2(a)(11) of the Securities Act, and any commissions received by it and any profit realized on the resale of the shares sold by it while acting as principal might be deemed to be underwriting discounts or commissions under the Securities Act. As an underwriter, the placement agent would be required to comply with the requirements of the Securities Act and the Exchange Act, including, without limitation, Rule 415(a)(4) under the Securities Act and Rule 10b-5 and Regulation M under the Exchange Act. These rules and regulations may limit the timing of purchases and sales of shares by the placement agent acting as principal. Under these rules and regulations, the placement agent:

● may not engage in any stabilization activity in connection with our securities; and

● may not bid for or purchase any of our securities or attempt to induce any person to purchase any of our securities, other than as permitted under the Exchange Act, until they have completed their participation in the distribution.

**Nasdaq Listing**

Our common stock is listed on The Nasdaq Capital Market under the symbol "GNPX." On October 27, 2025, the last reported sale price of our common stock on The Nasdaq Capital Market was $8.75 per share.

**Other Relationships**

From time to time, the placement agent has provided and may provide in the future, various advisory, investment and commercial banking and other services to us in the ordinary course of business, for which it may receive customary fees and commissions. As previously disclosed in our Current Report on Form 8-K filed with the SEC on December 13, 2023, we entered into an At The Market Offering Agreement (the "Sales Agreement") with the Placement Agent on December 13, 2023. Pursuant to the Sales Agreement, the Placement Agent serves as agent (the "Agent") with respect to an at-the-market ("ATM") offering program under which we may offer and sell through the Agent, from time to time at our sole discretion, such number or dollar amount of shares of our common stock as registered on the prospectus supplement covering the ATM offering program, as may be amended or supplemented from time to time. Except for the Sales Agreement, our current engagement letter with the placement agent governing the terms of this offering and potentially other offerings during the terms of such engagement, and as otherwise disclosed in this prospectus supplement, we have no other present arrangements with the placement agent for any other services.

------

**LEGAL MATTERS**

The validity of the securities offered hereby will be passed upon for us by Lowenstein Sandler LLP, New York, New York. Ellenoff Grossman & Schole LLP, New York, New York, has acted as counsel for the placement agent in connection with certain matters relating to this offering.

**EXPERTS**

The consolidated financial statements of Genprex, Inc. appearing in Genprex, Inc.'s Annual Report (Form 10-K) for the years ended December 31, 2024 and 2023, have been audited by WithumSmith+Brown, PC, as set forth in their report therein, which includes an explanatory paragraph as to the Company's ability to continue as a going concern, and incorporated herein by reference. Such consolidated financial statements are incorporated herein by reference in reliance upon such report given on the authority of such firm as experts in accounting and auditing.

**WHERE YOU CAN FIND MORE INFORMATION**

We have filed with the SEC a registration statement on Form S-3, including exhibits, under the Securities Act of which this prospectus supplement and the accompanying prospectus forms a part. This prospectus supplement does not contain all of the information set forth in the registration statement. This prospectus supplement and the accompanying prospectus are a part of the registration statement but do not contain descriptions of certain agreements or documents that are exhibits to the registration statement. The statements as to the contents of such exhibits, however, are brief descriptions and are not necessarily complete, and each statement is qualified in all respects by reference to such agreement or document. For further information about us, please refer to the registration statement and the documents incorporated by reference in this prospectus supplement.

We file annual, quarterly and current reports, proxy statements and other information with the SEC. Our SEC filings are available to the public over the Internet at the SEC's website at *http://www.sec.gov*. The SEC's website contains reports, proxy statements and other information regarding issuers, such as Genprex, Inc., that file electronically with the SEC. We make available free of charge through our web site our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, Proxy Statements on Schedule 14A and all amendments to those reports as soon as reasonably practicable after such material is electronically filed with or furnished to the SEC. Our website address is *http://www.genprex.com*. Please note that our website address is provided as an inactive textual reference only. Information contained on or accessible through our website is not part of this prospectus supplement or the accompanying prospectus, and is therefore not incorporated by reference unless such information is otherwise specifically referenced elsewhere in this prospectus supplement or the accompanying prospectus.

**INCORPORATION OF DOCUMENTS BY REFERENCE**

We incorporate by reference the filed documents listed below, except as superseded, supplemented or modified by this prospectus supplement, and any future filings we will make with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (unless otherwise noted, the SEC file number for each of the documents listed below is 001-38244):

● our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on [<u>April 1, 2025</u>](http://www.sec.gov/ix?doc=/Archives/edgar/data/1595248/000143774925010311/gnpx20241231_10k.htm) ;

● our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2025, filed with the SEC on [<u>May 12, 2025</u>](http://www.sec.gov/Archives/edgar/data/1595248/000143774925016133/gnpx20250331_10q.htm) , and the fiscal quarter ended June 30, 2025, filed with the SEC on [<u>August 14, 2025</u>](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001595248/000143774925026965/gnpx20250630_10q.htm) ;

● our Definitive Proxy Statement on Schedule 14A, filed with the SEC on [<u>July 16, 2025</u>](http://www.sec.gov/ix?doc=/Archives/edgar/data/1595248/000143774925022834/gnpx20250707_def14a.htm) ;

● our Current Reports on Form 8-K filed with the SEC on [<u>January 13, 2025</u>](http://www.sec.gov/Archives/edgar/data/1595248/000143774925000932/gnpx20250105_8k.htm) ; [<u>January 23, 2025</u>](http://www.sec.gov/Archives/edgar/data/1595248/000143774925001630/gnpx20241220_8k.htm) ; [<u>February 12, 2025</u>](http://www.sec.gov/Archives/edgar/data/1595248/000143774925003490/gnpx20250203_8k.htm) ; [<u>February 18, 2025</u>](http://www.sec.gov/Archives/edgar/data/1595248/000143774925004126/gnpx20241220c_8k.htm) ; [<u>April 28, 2025</u>](http://www.sec.gov/Archives/edgar/data/1595248/000143774925013235/gnpx20250424_8k.htm) ; [<u>May 6, 2025</u>](http://www.sec.gov/Archives/edgar/data/1595248/000143774925014618/gnpx20250428_8k.htm) ; [<u>May 7, 2025</u>](http://www.sec.gov/Archives/edgar/data/1595248/000143774925014909/gnpx20250506_8k.htm) ; [<u>June 9, 2025</u>](http://www.sec.gov/Archives/edgar/data/1595248/000143774925019767/gnpx20250606_8k.htm) ; [<u>June 11, 2025</u>](http://www.sec.gov/Archives/edgar/data/1595248/000143774925020102/gnpx20250606c_8k.htm) , [<u>June 23, 2025</u>](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001595248/000143774925020977/gnpx20250618_8k.htm) , [<u>June 24, 2025</u>](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001595248/000143774925021093/gnpx20250618c_8k.htm) , [<u>August 15, 2025</u>](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001595248/000143774925027138/gnpx20250708c_8k.htm) , [<u>August 18, 2025</u>](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001595248/000143774925027191/gnpx20250815_8k.htm) , [<u>August 20, 2025</u>](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001595248/000143774925027451/gnpx20250818_8k.htm) , <u>[October 17, 2025](http://www.sec.gov/ix?doc=/Archives/edgar/data/1595248/000143774925031210/gnpx20251001_8k.htm) ,</u> [<u>October 21, 2025</u>](http://www.sec.gov/ix?doc=/Archives/edgar/data/1595248/000143774925031382/gnpx20251021c_8k.htm) , [<u>October 23, 2025</u>](http://www.sec.gov/ix?doc=/Archives/edgar/data/1595248/000143774925031572/gnpx20251021d_8k.htm) , [October 24, 2025](http://www.sec.gov/Archives/edgar/data/1595248/000143774925031678/gnpx20251021_8k.htm) and [October 28, 2025](http://www.sec.gov/ix?doc=/Archives/edgar/data/1595248/000143774925031856/gnpx20251024c_8k.htm) (other than any portions thereof deemed furnished and not filed); and

● the description of our common stock contained in our Registration Statement on Form 8-A, filed with the SEC on [<u>October 13, 2017</u>](http://www.sec.gov/Archives/edgar/data/1595248/000119312517309662/d454099d8a12b.htm) , as updated by the Description of Registrant's Securities set forth on [<u>Exhibit 4.20</u>](http://www.sec.gov/Archives/edgar/data/1595248/000143774925010311/ex_727457.htm) to our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on April 1, 2025, and any amendments thereto or reports filed for the purposes of updating such description.

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We also incorporate by reference into this prospectus supplement additional documents (other than current reports furnished under Item 2.02 or Item 7.01 of Form 8-K and exhibits on such form that are related to such items) that we may file with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to the completion or termination of the offering, including all such documents we may file with the SEC after the date of the initial registration statement, but excluding any information deemed furnished and not filed with the SEC. Any statements contained in a previously filed document incorporated by reference into this prospectus supplement is deemed to be modified or superseded for purposes of this prospectus supplement to the extent that a statement contained in this prospectus supplement, or in a subsequently filed document also incorporated by reference herein, modifies or supersedes that statement.

This prospectus supplement may contain information that updates, modifies or is contrary to information in one or more of the documents incorporated by reference in this prospectus supplement. You should rely only on the information incorporated by reference or provided in this prospectus supplement. We have not authorized anyone else to provide you with different information. You should not assume that the information in this prospectus supplement is accurate as of any date other than the date of this prospectus supplement, or the date of the documents incorporated by reference in this prospectus supplement.

We will provide to each person, including any beneficial owner, to whom this prospectus supplement is delivered, upon written or oral request, at no cost to the requester, a copy of any and all of the information that is incorporated by reference in this prospectus supplement.

You may request, and we will provide you with, a copy of these filings, at no cost, by contacting us at:

Genprex, Inc.

3300 Bee Cave Road, #650-227

Austin, Texas 78746

Attention: Investor Relations

(877) 774-4679

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**PROSPECTUS**

**Genprex, Inc.**

![genprex01.jpg](genprex01.jpg)

**$200,000,000**

**Common Stock**

**Preferred Stock**

**Warrants**

**Debt Securities**

**Subscription Rights**

**Units**

We may offer, issue and sell from time to time together or separately, in one or more offerings, any combination of (i) our common stock, (ii) our preferred stock, which we may issue in one or more series, (iii) warrants, (iv) senior or subordinated debt securities, (v) subscription rights and (vi) units. The debt securities may consist of debentures, notes, or other types of debt. The debt securities, preferred stock, warrants and subscription rights may be convertible into, or exercisable or exchangeable for, common or preferred stock or other securities of ours. The units may consist of any combination of the securities listed above.

The aggregate public offering price of the securities that we are offering will not exceed $200,000,000. We will offer the securities in an amount and on terms that market conditions will determine at the time of the offering. Our common stock is listed on the Nasdaq Capital Market under the symbol "GNPX." The last reported sale price for our common stock on April 20, 2023 as quoted on the Nasdaq Capital Market was $1.10 per share. You are urged to obtain current market quotations of our common stock. We have no preferred stock, warrants, debt securities, subscription rights or units listed on any market. Each prospectus supplement will indicate if the securities offered thereby will be listed on any securities exchange.

**Investing in our securities involves risk. You should carefully consider the risks that we refer you to under the section captioned** "**<u>Risk Factors</u>**" **in this prospectus on page 5 before buying our securities.**

Should we offer any of the securities described in this prospectus, we will provide you with the specific terms of the particular securities being offered in supplements to this prospectus. You should read this prospectus and any supplement, together with additional information described under the headings "Additional Information" and "Incorporation of Certain Information by Reference" carefully before you invest. This prospectus may not be used to sell securities unless accompanied by a prospectus supplement.

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We may sell these securities directly to our stockholders or to other purchasers or through agents on our behalf or through underwriters or dealers as designated from time to time. If any agents or underwriters are involved in the sale of any of these securities, the applicable prospectus supplement will provide the names of the agents or underwriters and any applicable fees, commissions or discounts.

**Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

**The date of this prospectus is June 9, 2023**

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**<u>**TABLE OF CONTENTS**</u>**

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| | |
|:---|:---|
| ABOUT THIS PROSPECTUS | 1 |
| PROSPECTUS SUMMARY | 2 |
| RISK FACTORS | 5 |
| FORWARD-LOOKING STATEMENTS | 6 |
| USE OF PROCEEDS | 7 |
| THE SECURITIES WE MAY OFFER | 8 |
| DESCRIPTION OF CAPITAL STOCK | 8 |
| DESCRIPTION OF STOCK WARRANTS | 13 |
| DESCRIPTION OF DEBT SECURITIES | 15 |
| DESCRIPTION OF SUBSCRIPTION RIGHTS | 21 |
| DESCRIPTION OF UNITS | 22 |
| FORMS OF SECURITIES | 23 |
| PLAN OF DISTRIBUTION | 25 |
| LEGAL MATTERS | 29 |
| EXPERTS | 29 |
| ADDITIONAL INFORMATION | 29 |
| INCORPORATION OF CERTAIN INFORMATION BY REFERENCE | 29 |

---

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**ABOUT THIS PROSPECTUS**

This prospectus is part of a registration statement that we filed with the Securities and Exchange Commission ("SEC") using a "shelf" registration process. Under this shelf registration process, we may from time to time offer and sell, in one or more offerings, any or all of the securities described in this prospectus, separately or together, up to an aggregate offering price of $200,000,000. This prospectus provides you with a general description of our securities being offered. When we issue the securities being offered by this prospectus, we will provide a prospectus supplement that will contain specific information about the terms of that offering. The prospectus supplement may also add, update or change information contained in this prospectus. You should read both this prospectus and any prospectus supplement together with additional information described under the heading "Additional Information" and "Incorporation of Certain Information by Reference."

You may only rely on the information contained in this prospectus and the accompanying prospectus supplement or in any free writing prospectus prepared by or on behalf of us or to which we have referred you to. We have not authorized anyone to provide you with different information. This prospectus and any prospectus supplement do not constitute an offer to sell or a solicitation of an offer to buy any securities other than the securities offered by this prospectus and the prospectus supplement. This prospectus and any prospectus supplement do not constitute an offer to sell or a solicitation of an offer to buy any securities in any circumstances in which such offer or solicitation is unlawful. Neither the delivery of this prospectus or any prospectus supplement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in our affairs since the date of this prospectus or such prospectus supplement or that the information contained by reference to this prospectus or any prospectus supplement is correct as of any time after its date.

Genprex, Inc. is referred to herein as "Genprex," "the Company," "we," "us," and "our," unless the context indicates otherwise.

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**PROSPECTUS SUMMARY**

The following summary highlights some information from this prospectus. It is not complete and does not contain all of the information that you should consider before making an investment decision. You should read this entire prospectus, including the "Risk Factors" section on page 5 and the disclosures to which that section refers you, the financial statements and related notes and the other more detailed information appearing elsewhere or incorporated by reference into this prospectus before investing in any of the securities described in this prospectus.

**About Us**

We are a clinical stage gene therapy company pioneering the development of gene-based therapies for large patient populations with unmet medical needs. Our oncology platform utilizes our non-viral ONCOPREX® Nanoparticle Delivery System. Using this system, plasmids containing tumor suppressor genes, which are deleted early in the development of cancer, are encapsulated within lipid nanoparticles and administered intravenously to the patient to re-express the deleted tumor suppressor genes. Our diabetes technology is designed to work in Type 1 diabetes by transforming 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. In Type 2 diabetes, our technology is believed to work by replenishing and rejuvenating the beta cells that make insulin.

*<u>Oncology Platform</u>*

Our lead oncology drug candidate, REQORSA® Immunogene Therapy (generic name: quaratusugene ozeplasmid), previously referred to as GPX-001, is initially being developed in combination with top selling cancer drugs to treat Non-Small Cell Lung Cancer ("NSCLC") and Small Cell Lung Cancer ("SCLC"). The active agent in REQORSA is a plasmid that expresses a tumor suppressor gene named TUSC2. REQORSA 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. REQORSA has been shown to be complementary with targeted drugs and immunotherapies. We believe REQORSA's unique attributes position REQORSA to provide treatment for patients with NSCLC, SCLC, and possibly other cancers, and that it can improve on current therapies.

Acclaim – 1: We currently are enrolling and treating patients in the Phase 1 dose escalation portion of our Phase 1/2 Acclaim-1 clinical trial. The Acclaim-1 trial uses a combination of REQORSA and AstraZeneca PLC's Tagrisso® in patients with late-stage NSCLC that has activating epidermal growth factor receptor ("EGFR") mutations and progression after treatment with Tagrisso. In August 2022, the Acclaim-1 Safety Review Committee ("Acclaim-1 SRC") approved escalating the dose from 0.06 mg/kg in the first cohort of patients to 0.09 mg/kg in the second cohort of patients and in December 2022, the SRC approved escalating the dose from 0.09 mg/kg in the second cohort to 0.12 mg/kg in the third and final cohort. We are thus enrolling and treating patients at the 0.12 mg/kg dose level. We expect enrollment in the dose escalation portion of the study to be completed within the several days following the March 31, 2023 filing of the Company's Annual Report. Once the dose escalation portion of the study is complete and the maximum tolerated dose ("MTD") or recommended Phase 2 dose ("RP2D") is established, we will proceed into the dose expansion portion of the study. The Food and Drug Administration ("FDA") has granted Fast Track Designation for the Acclaim-1 treatment combination of REQORSA and Tagrisso in NSCLC patients who have progressed after Tagrisso treatment.

Acclaim – 2: We currently are enrolling and treating patients in the Phase 1 dose escalation portion of our Phase 1/2 Acclaim-2 clinical trial. The Acclaim-2 trial uses a combination of REQORSA and Merck & Co.'s Keytruda® in patients with late-stage NSCLC whose disease has progressed after treatment with Keytruda. Patients are currently being treated at the 0.06 mg/kg dose level in the first cohort of patients and, subject to the Acclaim-2 Safety Review Committee ("Acclaim-2 SRC") approval, will be treated at successive dose levels of 0.09 mg/kg and 0.12 mg/kg. We expect enrollment in the dose escalation portion of the study to be completed by the end of 2023. We will then evaluate patients in the dose expansion portion of the study at the MTD or RP2D. The FDA has granted Fast Track Designation for the Acclaim-2 treatment combination of REQORSA and Keytruda in NSCLC patients who have progressed after Keytruda treatment.

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The dose expansion portion of Acclaim-2 is a Phase 2 study and the dose expansion portion of Acclaim-1 will be considered a Phase 2 study upon the filing with the FDA of an upcoming protocol amendment. The dose expansion provides us the advantage of early insight into drug effectiveness in defined and distinct patient populations at the MTD or RP2D in order to better evaluate efficacy and increase the likelihood of a successful randomized Phase 2 trial which will follow the dose expansion portion of each study.

Acclaim – 3: In November 2022, we filed with the FDA our protocol for our Phase 1/2 Acclaim-3 clinical trial using a combination of REQORSA and Genentech, Inc.'s Tecentriq® as maintenance therapy in patients with extensive stage small cell lung cancer ("ES-SCLC") who did not develop tumor progression after receiving Tecentriq and chemotherapy as initial standard treatment. We expect to dose the first patient in Acclaim-3 by the end of the third quarter of 2023. Patients will be treated with REQORSA and Tecentriq until disease progression or unacceptable toxicity is experienced.

The TUSC2 gene is one of a series of genes on the short arm of Chromosome 3 whose therapeutic use is covered by our exclusive worldwide licenses from The University of Texas MD Anderson Cancer Center ("MD Anderson"). We believe that our ONCOPREX Nanoparticle Delivery System allows for delivery of a number of cancer-fighting genes, alone or in combination with other cancer therapies, to combat multiple types of cancer and are in early stages of discovery programs to identify early-stage candidates. In August 2022, we entered into a sponsored research agreement with MD Anderson to support further pre-clinical studies of TUSC2 and other tumor suppressor genes.

*<u>Diabetes Gene Therapy</u>*

In diabetes, we have exclusively licensed from the University of Pittsburgh of the Commonwealth System of Higher Education ("University of Pittsburgh") multiple technologies relating to the development of a gene therapy product for each of Type 1 and Type 2 diabetes. The same general novel approach is used in each of Type 1 and Type 2 whereby an adeno-associated virus ("AAV") vector containing the Pdx1 and MafA genes is administered directly into the pancreatic duct. In humans, this can be done with a routine endoscopy procedure. Our diabetes product candidates are currently being evaluated in preclinical studies at the University of Pittsburgh. GPX-002 is being developed for the treatment of Type 1 diabetes and GPX-003 is being developed for the treatment of Type 2 diabetes. GPX-002 is designed to work by transforming 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. GPX-003 is believed to work by replenishing and rejuvenating the beta cells that make insulin. In August 2022, we entered into a one-year sponsored research agreement with the University of Pittsburgh for the use of GPX-003 in a non-human primate ("NHP") model in Type 2 diabetes and we expect data from this study to be reported by the end of 2023. In February 2023, the Company's research collaborators at the University of Pittsburgh presented preclinical data in a NHP model of Type 1 diabetes highlighting the therapeutic potential of GPX-002 at the 16th International Conference on Advanced Technologies & Treatments for Diabetes (ATTD 2023) in Berlin, Germany. The statistically significant study results showed the treated animals had decreased insulin requirements, increased c-peptide levels, and improved glucose tolerance compared to baseline.

***Implications of Being an Emerging Growth Company***

We qualify as an "emerging growth company" as the term is used in The Jumpstart Our Business Startups Act of 2012 ("JOBS Act"), and therefore, we may take advantage of certain exemptions from various public company reporting requirements, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● a requirement to only have two years of audited financial statements and only two years of related selected financial data and management's discussion and analysis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● exemption from the auditor attestation requirement on the effectiveness of our internal controls over financial reporting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● reduced disclosure obligations regarding executive compensation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● exemptions from the requirements of holding a nonbinding advisory stockholder vote on executive compensation and any golden parachute payments.

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We expect that our eligibility to qualify as an "emerging growth company" will end on December 31, 2023, the last day of our fiscal year following the fifth anniversary of the date of our initial public offering. For so long as we remain an emerging growth company, we may choose to take advantage of some, but not all, of the available benefits of the JOBS Act. We have taken advantage of some of the reduced reporting requirements in our filings with the SEC, including our most recent Annual Report on Form 10-K and the other documents incorporated by reference into this prospectus. Accordingly, the information contained or incorporated by reference herein may be different than the information you receive from other public companies in which you hold stock. In addition, the JOBS Act provides that an emerging growth company can delay adopting new or revised accounting standards until such time as those standards apply to private companies. We have irrevocably elected not to avail ourselves of this exemption from new or revised accounting standards and, therefore, we will be subject to the same new or revised accounting standards as other public companies that are not emerging growth companies.

***Corporate Information***

We were incorporated in Delaware in April 2009. Our principal executive offices are located at 3300 Bee Cave Road, #650-227, Austin, TX 78746, and our telephone number is (877) 774-4679. Our website address is *www.genprex.com*. Our website and the information contained on, or that can be accessed through, our website shall not be deemed to be incorporated by reference in, and are not considered part of, this prospectus. You should not rely on any such information in making your decision whether to purchase our securities.

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**RISK FACTORS**

Before purchasing any of the securities you should carefully consider the risk factors incorporated by reference in this prospectus from our most recent Annual Report on Form 10-K and any subsequent updates described in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as well as the risks, uncertainties and additional information set forth in our SEC reports on Forms 10-K, 10-Q and 8-K and in the other documents incorporated by reference in this prospectus. For a description of these reports and documents, and information about where you can find them, see "Additional Information" and "Incorporation of Certain Information By Reference." Additional risks not presently known or that we presently consider to be immaterial could subsequently materially and adversely affect our financial condition, results of operations, business and prospects.

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**FORWARD-LOOKING STATEMENTS**

This prospectus, including the documents that we incorporate by reference, contains forward-looking statements as that term is defined in the federal securities laws. The events described in forward-looking statements contained in this prospectus, including the documents that we incorporate by reference, may not occur. Generally, these statements relate to our business plans or strategies, projected or anticipated benefits or other consequences of our plans or strategies, financing plans, projected or anticipated benefits from acquisitions that we may make, or projections involving anticipated revenues, earnings or other aspects of our operating results or financial position, and the outcome of any contingencies. Any such forward-looking statements are based on current expectations, estimates and projections of management. We intend for these forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements. Words such as "may," "expect," "believe," "anticipate," "project," "plan," "intend," "estimate," and "continue," and their opposites and similar expressions are intended to identify forward-looking statements. We caution you that these statements are not guarantees of future performance or events and are subject to a number of uncertainties, risks and other influences, many of which are beyond our control that may influence the accuracy of the statements and the projections upon which the statements are based. Factors that may affect our results include, but are not limited to, the risks and uncertainties discussed in the "Risk Factors" section on page 5 of this prospectus, in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 or in other reports we file with the Securities and Exchange Commission.

Any one or more of these uncertainties, risks and other influences could materially affect our results of operations and whether forward-looking statements made by us ultimately prove to be accurate. Our actual results, performance and achievements could differ materially from those expressed or implied in these forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether from new information, future events or otherwise.

You should rely only on the information in this prospectus. We have not authorized any other person to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely upon it.

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**USE OF PROCEEDS**

Unless we inform you otherwise in the prospectus supplement relating to a particular offering of securities, we will use the net proceeds from the sale of the securities offered by this prospectus and the exercise price from the exercise of any convertible securities, if any, for working capital and general corporate purposes, which could include, without limitation, application towards purposes and uses such as capital expenditures, research and development expenditures, regulatory affairs expenditures, clinical trial expenditures, acquisitions of new technologies and investments, business combinations and the repayment, refinancing, redemption or repurchase of indebtedness or capital stock.

When particular securities are offered, the prospectus supplement relating to that offering will set forth our intended use of the net proceeds received from the sale of those securities we sell. Pending the application of the net proceeds for these purposes, we expect to invest the proceeds in short-term, interest-bearing instruments or other investment-grade securities.

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**THE SECURITIES WE MAY OFFER**

**General**

The descriptions of the securities contained in this prospectus, together with the applicable prospectus supplements, summarize all of the material terms and provisions of the various types of securities that we may offer. We will describe in the applicable prospectus supplement relating to any securities the particular terms of the securities offered by that prospectus supplement. If we indicate in the applicable prospectus supplement, the terms of the securities may differ from the terms we have summarized below. We may also include in the prospectus supplement information about material United States federal income tax considerations relating to the securities, and the securities exchange, if any, on which the securities will be listed.

We may sell from time to time, in one or more offerings:

● common stock;

● preferred stock;

● debt securities;

● subscription rights to purchase shares of common stock, preferred stock or debt securities;

● warrants to purchase shares of common stock or preferred stock; and

● units consisting of any combination of the securities listed above.

In this prospectus, we refer to the common stock, preferred stock, debt securities, subscription rights, warrants and units collectively as "securities." The total dollar amount of all securities that we may sell will not exceed $200,000,000.

If we issue debt securities at a discount from their original stated principal amount, then, for purposes of calculating the total dollar amount of all securities issued under this prospectus, we will treat the initial offering price of the debt securities as the total original principal amount of the debt securities.

This prospectus may not be used to consummate a sale of securities unless it is accompanied by a prospectus supplement.

**DESCRIPTION OF CAPITAL STOCK**

**General**

Our authorized capital stock consists of:

● 200,000,000 shares of common stock, par value $0.001 per share; and

● 10,000,000 shares of preferred stock, par value $0.001 per share.

As of close of business on March 15, 2023, 51,974,078 shares of our common stock were issued and outstanding and no shares of our preferred stock were issued and outstanding.

The additional shares of our authorized capital stock available for issuance may be issued at times and under circumstances so as to have a dilutive effect on earnings per share and on the equity ownership of the holders of our common stock. The ability of our board of directors to issue additional shares of stock could enhance the board's ability to negotiate on behalf of the stockholders in a takeover situation but could also be used by the board to make a change-in-control more difficult, thereby denying stockholders the potential to sell their shares at a premium and entrenching current management. The following description is a summary of the material provisions of our capital stock. You should refer to our amended and restated certificate of incorporation and bylaws, both of which are on file with the SEC as exhibits to previous SEC filings, for additional information. The summary below is qualified by provisions of applicable law.

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***Common Stock***

**Description of Common Stock**

The following description of the Company's Common Stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to the Company's Amended and Restated Certificate of Incorporation (the "Certificate of Incorporation") and the Company's Amended and Restated Bylaws (the "Bylaws" and together with the Certificate of Incorporation, the "Charter Documents"), each of which is incorporated by reference as an exhibit to the Annual Report on Form 10-K. The Company encourages you to read its Certificate of Incorporation, Bylaws, and the applicable provisions of the Delaware General Corporation Law (the "DGCL"), for additional information.

*Authorized Capital Shares*

The Company's authorized capital shares consist of 200,000,000 shares of Common Stock and 10,000,000 shares of preferred stock, $0.001 par value per share ("Preferred Stock"). As of March 15, 2023, there were 51,974,078 shares of Common Stock issued and outstanding and no shares of Preferred Stock issued and outstanding.

*Voting Rights*

Holders of the Company's Common Stock are entitled to one vote per share on each matter properly submitted to the stockholders of the Company for their vote; provided, however, that except as otherwise required by law, that holders of Common Stock are not entitled to vote on any amendments to the Certificate of Incorporation relating solely to the terms of one or more outstanding series of Preferred Stock if the holders of such affected series of Preferred Stock are entitled, either separately or together as a class with the holders of one or more other series of Preferred Stock to vote thereon by law or pursuant to the Certificate of Incorporation. The Company's Charter Documents do not provide for cumulative voting in the election of directors.

*Dividend Rights*

Holders of the Company's Common Stock are entitled, subject to the rights, privileges, restrictions and conditions attaching to any other class of shares ranking in priority to the Common Stock, to receive any dividend declared by the Company's board of directors out of the Company's assets which are legally available. Such dividends may be paid in cash, in property, or in shares of the Company's capital stock, subject to the provisions of the Certificate of Incorporation and applicable law.

The Company has never declared or paid cash dividends on its capital stock. The Company currently intends to retain all available funds and any future earnings for use in the operation of its business and does not anticipate paying any dividends on the Company's Common Stock in the foreseeable future. Any future determination to declare dividends will be made at the discretion of the Company's board of directors and will depend on, among other factors, the Company's financial condition, operating results, capital requirements, contractual restrictions, general business conditions and other factors that the Company's board of directors may deem relevant.

*Liquidation Rights*

Upon the Company's liquidation, dissolution or winding-up, holders of the Company's Common Stock are entitled to share in all assets remaining after payment of all liabilities and the liquidation preferences of any of the Company's outstanding shares of Preferred Stock.

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*Preemptive, Conversion and Subscription Rights*

Holders of the Company's Common Stock have no preemptive, conversion or subscription rights.

**Anti-takeover effects of our Charter Documents and Delaware law**

Set forth below is a summary of the provisions of the Company's Certificate of Incorporation and Bylaws and the DGCL that could have the effect of delaying or preventing a change in control of the Company. The following description is only a summary, and it is qualified by reference to the Certificate of Incorporation, Bylaws and relevant provisions of the DGCL.

*<u>Delaware Anti-Takeover Law</u>*

The Company is subject to Section 203 of the DGCL ("Section 203") which generally prohibits a publicly held Delaware corporation from engaging in a "business combination" transaction with an "interested stockholder" for a period of three years following the time that such stockholder became an interested stockholder, unless:

● prior to the date of the transaction the board of directors of the corporation approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;

● upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder) those shares owned (1) by persons who are directors and also officers and (2) employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

● at or subsequent to the date of the transaction, the business combination is approved by the board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66-2/3% of the outstanding voting stock which is not owned by the interested stockholder.

Section 203 defines a "business combination" to include:

● any merger or consolidation involving the corporation and the interested stockholder;

● any sale, lease, exchange, mortgage, transfer, pledge or other disposition (in one transaction or a series of transactions) involving the interested stockholder of assets of the corporation or of any direct or indirect majority-owned subsidiary of the corporation which assets have an aggregate market value equal to 10% or more of either the aggregate market value of all the assets of the corporation determined on a consolidated basis or the aggregate market value of all the outstanding stock of the corporation;

● subject to exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder;

● subject to exceptions, any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; or

● the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.

In general, Section 203 defines an "interested stockholder" a person who, together with affiliates and associates, owns or, within three years prior to the determination of interested stockholder status, owned 15% or more of a corporation's outstanding voting securities.

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*<u>Certificate of Incorporation and Bylaws</u>*

*Board of Directors Vacancies*

The Company's Charter Documents provide that, except as otherwise required by law, and subject to the rights of the holders of any series of Preferred Stock, all vacancies, and any newly created directorships, unless the Board of Directors determines that any such vacancies or newly created directorships shall be filled by the stockholders, shall, be filled only by the affirmative vote of a majority of directors then in office, even if less than a quorum. Further, the Company's directors may only be removed with cause and by the affirmative vote of the holders of at least 66-2/3% of the voting power of all of the Company's then outstanding capital stock. In addition, pursuant to the Company's Certificate of Incorporation, the number of directors constituting the Company's board of directors may be changed only by resolution of the Company's board of directors.

*Limits on Ability of Stockholders to Act by Written Consent or Call a Special Meeting*

The Company's Charter Documents require that any action to be taken by our stockholders must be effected at a duly called annual or special meeting of stockholders and not be taken by written consent. In addition, pursuant to the Company's Bylaws, special meetings of the Company's stockholders may be called only by the chairman of the board, the Company's Chief Executive Officer or by the board of directors pursuant to a resolution adopted by a majority of the total number of authorized directors.

*Stockholder Proposals*

The Company's Bylaws provide that stockholders seeking to present proposals before a meeting of stockholders or to nominate candidates for election as directors at a meeting of stockholders must provide notice in writing in a timely manner and also specify requirements as to the form and content of a stockholder's notice. These advance notice procedures may have the effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed and may also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect its own slate of directors or otherwise attempt to obtain control of our company.

*Staggered Board*

The Company's Charter Documents provide that the Company's board of directors shall be divided into three classes and that directors shall be elected for a term of three years. Our classified board of directors may tend to discourage a third party from making a tender offer or otherwise attempting to obtain control of us because it generally makes it more difficult for stockholders to replace a majority of the directors.

*Issuance of Undesignated Preferred Stock*

As discussed above, our board of directors has the ability to designate and issue preferred stock with voting or other rights or preferences that could deter hostile takeovers or delay changes in our control or management.

*No Cumulative Voting*

The DGCL provides that stockholders are not entitled to the right to cumulate votes in the election of directors unless our certificate of incorporation provides otherwise. Our Charter Documents do not expressly provide for cumulative voting. Without cumulative voting, a minority stockholder may not be able to gain as many seats on our board of directors as the stockholder would be able to gain if cumulative voting were permitted. The absence of cumulative voting makes it more difficult for a minority stockholder to gain a seat on our board of directors to influence our board of directors' decision regarding a takeover.

**Exclusive Forum**

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**Transfer Agent and Registrar**

The Company's transfer agent and registrar is VStock Transfer, LLC whose address is 18 Lafayette Place, Woodmere, New York 11598.

**Listing**

The Company's Common Stock is listed on The Nasdaq Capital Market under the symbol "GNPX."

**Description of Preferred Stock**

We are authorized to issue up to 10,000,000 shares of preferred stock, all of which are undesignated. Our board of directors has the authority, within the limitations and restrictions prescribed by law and without stockholder approval, to provide by resolution for the issuance of shares of preferred stock, and to fix the rights, preferences, privileges and restrictions thereof, including dividend rights, conversion rights, voting rights, terms of redemption, liquidation preference and the number of shares constituting any series of the designation of such series, by delivering an appropriate certificate of amendment to our amended and restated certificate of incorporation to the Delaware Secretary of State pursuant to the Delaware General Corporation Law, or the DGCL. The issuance of preferred stock could have the effect of decreasing the market price of the common stock, impeding or delaying a possible takeover and adversely affecting the voting and other rights of the holders of our common stock.

**Transfer Agent and Registrar for Preferred Stock**

The transfer agent and registrar for any series or class of preferred stock will be set forth in each applicable prospectus supplement.

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**DESCRIPTION OF STOCK WARRANTS**

We summarize below some of the provisions that will apply to the warrants unless the applicable prospectus supplement provides otherwise. This summary may not contain all information that is important to you. The complete terms of the warrants will be contained in the applicable warrant certificate and warrant agreement. These documents have been or will be included or incorporated by reference as exhibits to the registration statement of which this prospectus is a part. You should read the warrant certificate and the warrant agreement. You should also read the prospectus supplement, which will contain additional information and which may update or change some of the information below.

**General**

We may issue warrants to purchase our debt or equity securities or securities of third parties or other rights, including rights to receive payment in cash or securities based on the value, rate or price of one or more specified commodities, currencies, securities or indices, or any combination of the foregoing. Warrants may be issued independently or together with any other securities and may be attached to, or separate from, such securities. Each series of warrants will be issued under a separate warrant agreement to be entered into between us and a bank, trust company or other financial institution, as warrant agent, or we may issue warrants directly to investors. A description of the terms and material provisions of any warrants we may issue will be set forth in the applicable prospectus supplement.

The applicable prospectus supplement will describe the following terms of any warrants in respect of which this prospectus is being delivered:

● the title of such warrants;

● the aggregate number of such warrants;

● the price or prices at which such warrants will be issued;

● the currency or currencies in which the price of such warrants will be payable;

● the securities or other rights, including rights to receive payment in cash or securities based on the value, rate or price of one or more specified commodities, currencies, securities or indices, or any combination of the foregoing, purchasable upon exercise of such warrants;

● the price at which and the currency or currencies in which the securities or other rights purchasable upon exercise of such warrants may be purchased;

● the date on which the right to exercise such warrants shall commence and the date on which such right shall expire;

● if applicable, the minimum or maximum amount of such warrants which may be exercised at any one time;

● provision for changes to or adjustments in the exercise price of such warrants, if any;

● if applicable, the designation and terms of the securities with which such warrants are issued and the number of such warrants issued with each such security;

● if applicable, the date on and after which such warrants and the related securities will be separately transferable;

● information with respect to book-entry procedures, if any;

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● if applicable, a discussion of any material United States Federal income tax or foreign income tax considerations; and

● any other terms of such warrants, including terms, procedures and limitations relating to the exchange and exercise of such warrants.

**Transfer Agent and Registrar**

The transfer agent and registrar, if any, for any warrants will be set forth in the applicable prospectus supplement.

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**DESCRIPTION OF DEBT SECURITIES**

This prospectus describes certain general terms and provisions of debt securities that we may offer. The debt securities may be issued pursuant to, in the case of senior debt securities, a senior indenture, and in the case of subordinated debt securities, a subordinated indenture, in each case in the forms filed as exhibits to this registration statement, which we refer to as the "indentures." The indentures will be entered into between us and a trustee to be named prior to the issuance of any debt securities, which we refer to as the "trustee." The indentures will not limit the amount of debt securities that can be issued thereunder and will provide that the debt securities may be issued from time to time in one or more series pursuant to the terms of one or more securities resolutions or supplemental indentures creating such series.

We have summarized below the material provisions of the indentures and the debt securities or indicated which material provisions will be described in the related prospectus supplement for any offering of debt securities. These descriptions are only summaries, and you should refer to the relevant indenture for the particular offering of debt securities itself which will describe completely the terms and definitions of the offered debt securities and contain additional information about the debt securities.

**Terms**

When we offer to sell a particular series of debt securities, we will describe the specific terms of the securities in a prospectus supplement. The prospectus supplement will set forth the following terms, as applicable, of the debt securities offered thereby:

● the designation, aggregate principal amount, currency or composite currency and denominations;

● the price at which such debt securities will be issued and, if an index formula or other method is used, the method for determining amounts of principal or interest;

● the maturity date and other dates, if any, on which principal will be payable;

● whether or not the debt securities will be secured or unsecured, and the terms of any secured debt;

● whether the debt securities rank as senior debt, senior subordinated debt, subordinated debt or any combination thereof, and the terms of any subordination;

● the interest rate (which may be fixed or variable), if any;

● the date or dates from which interest will accrue and on which interest will be payable, and the record dates for the payment of interest;

● the manner of paying principal and interest;

● the place or places where principal and interest will be payable;

● the terms of any mandatory or optional redemption by us or any third party including any sinking fund;

● the terms of any conversion or exchange;

● the terms of any redemption at the option of holders or put by the holders;

● any tax indemnity provisions;

● if the debt securities provide that payments of principal or interest may be made in a currency other than that in which the debt securities are denominated, the manner for determining such payments;

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● the portion of principal payable upon acceleration of a Discounted Debt Security (as defined below);

● whether and upon what terms debt securities may be defeased;

● any events of default or covenants in addition to or in lieu of those set forth in the indentures;

● provisions for electronic issuance of debt securities or for the issuance of debt securities in uncertificated form; and

● any additional provisions or other special terms not inconsistent with the provisions of the indentures, including any terms that may be required or advisable under United States or other applicable laws or regulations, or advisable in connection with the marketing of the debt securities.

Debt securities of any series may be issued as registered debt securities or uncertificated debt securities, in such denominations as specified in the terms of the series.

Securities may be issued under the indentures as Discounted Debt Securities to be offered and sold at a substantial discount from the principal amount thereof. Special United States federal income tax and other considerations applicable thereto will be described in the prospectus supplement relating to such Discounted Debt Securities. "Discounted Debt Security" means a security where the amount of principal due upon acceleration is less than the stated principal amount.

We are not obligated to issue all debt securities of one series at the same time and, unless otherwise provided in the prospectus supplement, we may reopen a series, without the consent of the holders of the debt securities of that series, for the issuance of additional debt securities of that series. Additional debt securities of a particular series will have the same terms and conditions as outstanding debt securities of such series, except for the date of original issuance and the offering price, and will be consolidated with, and form a single series with, such outstanding debt securities.

**Ranking**

The senior debt securities will rank equally with all of our other senior and unsubordinated debt. Our secured debt, if any, will be effectively senior to the senior debt securities to the extent of the value of the assets securing such debt. The subordinated debt securities will be subordinate and junior in right of payment to all of our present and future senior indebtedness to the extent and in the manner described in the prospectus supplement and as set forth in the board resolution, officer's certificate or supplemental indenture relating to such offering.

We have only a stockholder's claim on the assets of our subsidiaries. This stockholder's claim is junior to the claims that creditors of our subsidiaries have against our subsidiaries. Holders of our debt securities will be our creditors and not creditors of any of our subsidiaries. As a result, all the existing and future liabilities of our subsidiaries, including any claims of their creditors, will effectively be senior to the debt securities with respect to the assets of our subsidiaries. In addition, to the extent that we issue any secured debt, the debt securities will be effectively subordinated to such secured debt to the extent of the value of the assets securing such secured debt.

The debt securities will be obligations exclusively of Genprex, Inc. To the extent that our ability to service our debt, including the debt securities, may be dependent upon the earnings of our subsidiaries, our ability to do so will be dependent on the ability of our subsidiaries to distribute those earnings to us as dividends, loans or other payments.

**Certain Covenants**

Any covenants that may apply to a particular series of debt securities will be described in the prospectus supplement relating thereto.

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**Successor Obligor**

The indentures provide that, unless otherwise specified in the securities resolution or supplemental indenture establishing a series of debt securities, we shall not consolidate with or merge into, or transfer all or substantially all of our assets to, any person in any transaction in which we are not the survivor, unless:

● the person is organized under the laws of the United States or a jurisdiction within the United States;

● the person assumes by supplemental indenture all of our obligations under the relevant indenture, the debt securities and any coupons;

● immediately after the transaction no Default (as defined below) exists; and

● we deliver to the trustee an officers' certificate and opinion of counsel stating that the transaction complies with the foregoing requirements and that all conditions precedent provided for in the indenture relating to the transaction have been complied with.

In such event, the successor will be substituted for us, and thereafter all of our obligations under the relevant indenture, the debt securities and any coupons will terminate.

The indentures provide that these limitations shall not apply if our board of directors makes a good faith determination that the principal purpose of the transaction is to change our state of incorporation.

**Exchange of Debt Securities**

Registered debt securities may be exchanged for an equal aggregate principal amount of registered debt securities of the same series and date of maturity in such authorized denominations as may be requested upon surrender of the registered debt securities at an agency of the Company maintained for such purpose and upon fulfillment of all other requirements of such agent.

**Default and Remedies**

Unless the securities resolution or supplemental indenture establishing the series otherwise provides (in which event the prospectus supplement will so state), an "Event of Default" with respect to a series of debt securities will occur if:

&nbsp;&nbsp;&nbsp;&nbsp;(1) we default in any payment of interest on any debt securities of such series when the same becomes due and payable and the default continues for a period of 30 days;

&nbsp;&nbsp;&nbsp;&nbsp;(2) we default in the payment of all or any part of the principal and premium, if any, of any debt securities of such series when the same becomes due and payable at maturity or upon redemption, acceleration or otherwise and such default shall continue for five or more days;

&nbsp;&nbsp;&nbsp;&nbsp;(3) we default in the performance of any of our other agreements applicable to the series and the default continues for 30 days after the notice specified below;

&nbsp;&nbsp;&nbsp;&nbsp;(4) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law (as defined below) that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) is for relief against us in an involuntary case,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) appoints a Custodian (as defined below) for us or for any substantial part of our property, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) orders the winding up or liquidation of us, and the order or decree remains unstayed and in effect for 90 consecutive days;

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&nbsp;&nbsp;&nbsp;&nbsp;(5) we, pursuant to or within the meaning of any Bankruptcy Law:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) commence a voluntary case,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) consent to the entry of an order for relief against us in an involuntary case,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) consent to the appointment of a Custodian for us or for any substantial part of our property, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) make a general assignment for the benefit of our creditors; or

&nbsp;&nbsp;&nbsp;&nbsp;(6) there occurs any other Event of Default provided for in such series.

The term "Bankruptcy Law" means Title 11 of the United States Code or any similar Federal or State law for the relief of debtors. The term "Custodian" means any receiver, trustee, assignee, liquidator or a similar official under any Bankruptcy Law.

"Default" means any event which is, or after notice or passage of time would be, an Event of Default. A Default under subparagraph (3) above is not an Event of Default until the trustee or the holders of at least 25% in principal amount of the series notify us of the Default and we do not cure the Default within the time specified after receipt of the notice.

The trustee may require indemnity satisfactory to it before it enforces the indentures or the debt securities of the series. Subject to certain limitations, holders of a majority in principal amount of the debt securities of the series may direct the trustee in its exercise of any trust or power with respect to such series. Except in the case of Default in payment on a series, the trustee may withhold from securityholders of such series notice of any continuing Default if the trustee determines that withholding notice is in the interest of such securityholders. We are required to furnish the trustee annually a brief certificate as to our compliance with all conditions and covenants under the indentures.

The indentures do not have cross-default provisions. Thus, a default by us on any other debt, including any other series of debt securities, would not constitute an Event of Default.

**Amendments and Waivers**

The indentures and the debt securities or any coupons of the series may be amended, and any Default may be waived as follows:

Unless the securities resolution or supplemental indenture otherwise provides (in which event the applicable prospectus supplement will so state), the debt securities and the indentures may be amended with the consent of the holders of a majority in principal amount of the debt securities of all series affected voting as one class. Unless the securities resolution or supplemental indenture otherwise provides (in which event the applicable prospectus supplement will so state), a Default other than a Default in payment on a particular series may be waived with the consent of the holders of a majority in principal amount of the debt securities of the series. However, without the consent of each securityholder affected, no amendment or waiver may:

● change the fixed maturity of or the time for payment of interest on any debt security;

● reduce the principal, premium or interest payable with respect to any debt security;

● change the place of payment of a debt security or the currency in which the principal or interest on a debt security is payable;

● change the provisions for calculating any redemption or repurchase price with respect to any debt security;

● adversely affect any holder's right to receive payment of principal and interest or to institute suit for the enforcement of any such payment;

● reduce the amount of debt securities whose holders must consent to an amendment or waiver;

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● make any change that materially adversely affects the right to convert any debt security;

● waive any Default in payment of principal of or interest on a debt security; or

● adversely affect any holder's rights with respect to redemption or repurchase of a debt security.

Without the consent of any securityholder, the indentures or the debt securities may be amended to:

● provide for assumption of our obligations to securityholders in the event of a merger or consolidation requiring such assumption;

● cure any ambiguity, omission, defect or inconsistency;

● conform the terms of the debt securities to the description thereof in the prospectus and prospectus supplement offering such debt securities;

● create a series and establish its terms;

● provide for the acceptance of appointment by a successor trustee or to facilitate the administration of the trusts by more than one trustee;

● provide for uncertificated or unregistered securities;

● make any change that does not adversely affect the rights of any securityholder;

● add to our covenants; or

● make any other change to the indentures so long as no debt securities are outstanding.

**Conversion Rights**

Any securities resolution or supplemental indenture establishing a series of debt securities may provide that the debt securities of such series will be convertible at the option of the holders thereof into or for our common stock or other equity or debt instruments. The securities resolution or supplemental indenture may establish, among other things, (1) the number or amount of shares of common stock or other equity or debt instruments for which $1,000 aggregate principal amount of the debt securities of the series is convertible, as may be adjusted pursuant to the terms of the relevant indenture and the securities resolution; and (2) provisions for adjustments to the conversion rate and limitations upon exercise of the conversion right. The indentures provide that we will not be required to make an adjustment in the conversion rate unless the adjustment would require a cumulative change of at least 1% in the conversion rate. However, we will carry forward any adjustments that are less than 1% of the conversion rate and take them into account in any subsequent adjustment of the conversion rate.

**Legal Defeasance and Covenant Defeasance**

Debt securities of a series may be defeased in accordance with their terms and, unless the securities resolution or supplemental indenture establishing the terms of the series otherwise provides, as set forth below. We at any time may terminate as to a series all of our obligations (except for certain obligations, including obligations with respect to the defeasance trust and obligations to register the transfer or exchange of a debt security, to replace destroyed, lost or stolen debt securities and coupons and to maintain paying agencies in respect of the debt securities) with respect to the debt securities of the series and any related coupons and the relevant indenture, which we refer to as legal defeasance. We at any time may terminate as to a series our obligations with respect to any restrictive covenants which may be applicable to a particular series, which we refer to as covenant defeasance.

We may exercise our legal defeasance option notwithstanding our prior exercise of our covenant defeasance option. If we exercise our legal defeasance option, a series may not be accelerated because of an Event of Default. If we exercise our covenant defeasance option, a series may not be accelerated by reference to any covenant which may be applicable to a series.

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To exercise either defeasance option as to a series, we must (1) irrevocably deposit in trust with the trustee (or another trustee) money or U.S. Government Obligations (as defined below), deliver a certificate from a nationally recognized firm of independent accountants expressing their opinion that the payments of principal and interest when due on the deposited U.S. Government Obligations, without reinvestment, plus any deposited money without investment will provide cash at such times and in such amounts as will be sufficient to pay the principal and interest when due on all debt securities of such series to maturity or redemption, as the case may be; and (2) comply with certain other conditions. In particular, we must obtain an opinion of tax counsel that the defeasance will not result in recognition of any gain or loss to holders for federal income tax purposes.

"U.S. Government Obligations" means direct obligations of the United States or any agency or instrumentality of the United States, the payment of which is unconditionally guaranteed by the United States, which, in either case, have the full faith and credit of the United States pledged for payment and which are not callable at the issuer's option, or certificates representing an ownership interest in such obligations.

**Regarding the Trustee**

Unless otherwise indicated in a prospectus supplement, the trustee will also act as depository of funds, transfer agent, paying agent and conversion agent, as applicable, with respect to the debt securities. In certain circumstances, we or the securityholders may remove the trustee as the trustee under a given indenture. The indenture trustee may also provide additional unrelated services to us as a depository of funds, registrar, trustee and similar services.

**Governing Law**

The indentures and the debt securities will be governed by New York law, except to the extent that the Trust Indenture Act of 1939 is applicable.

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**DESCRIPTION OF SUBSCRIPTION RIGHTS**

We may issue subscription rights to purchase our equity or debt securities. These subscription rights may be offered independently or together with any other security offered hereby and may or may not be transferable by the stockholder receiving the subscription rights in such offering. In connection with any offering of subscription rights, we may enter into a standby arrangement with one or more underwriters or other purchasers pursuant to which the underwriters or other purchasers may be required to purchase any securities remaining unsubscribed for after such offering.

The prospectus supplement relating to any subscription rights we offer, if any, will, to the extent applicable, include specific terms relating to the offering, including some or all of the following:

● the price, if any, for the subscription rights;

● the exercise price payable for our equity or debt securities upon the exercise of the subscription rights;

● the number of subscription rights to be issued to each stockholder;

● the number and terms of our equity or debt securities which may be purchased per each subscription right;

● the extent to which the subscription rights are transferable;

● any other terms of the subscription rights, including the terms, procedures and limitations relating to the exchange and exercise of the subscription rights;

● the date on which the right to exercise the subscription rights shall commence, and the date on which the subscription rights shall expire;

● the extent to which the subscription rights may include an over-subscription privilege with respect to unsubscribed securities or an over-allotment privilege to the extent the securities are fully subscribed; and

● if applicable, the material terms of any standby underwriting or purchase arrangement which may be entered into by us in connection with the offering of subscription rights.

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**DESCRIPTION OF UNITS**

We may issue units comprised of one or more of the other securities described in this prospectus in any combination. Each unit will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security (but, to the extent convertible securities are included in the units, the holder of the units will be deemed the holder of the convertible securities and not the holder of the underlying securities). The unit agreement under which a unit is issued, if any, may provide that the securities included in the unit may not be held or transferred separately, at any time or at any time before a specified date. The applicable prospectus supplement may describe:

● the designation and terms of the units and of the securities comprising the units, including whether and under what circumstances those securities may be held or transferred separately;

● any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units;

● the terms of the unit agreement governing the units;

● United States federal income tax considerations relevant to the units; and

● whether the units will be issued in fully registered global form.

This summary of certain general terms of units and any summary description of units in the applicable prospectus supplement do not purport to be complete and are qualified in their entirety by reference to all provisions of the applicable unit agreement and, if applicable, collateral arrangements and depositary arrangements relating to such units. The forms of the unit agreements and other documents relating to a particular issue of units will be filed with the SEC each time we issue units, and you should read those documents for provisions that may be important to you.

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**FORMS OF SECURITIES**

Each debt security and, to the extent applicable, warrant, subscription right and unit, will be represented either by a certificate issued in definitive form to a particular investor or by one or more global securities representing the entire issuance of securities. Certificated securities in definitive form and global securities will be issued in registered form. Definitive securities name you or your nominee as the owner of the security, and in order to transfer or exchange these securities or to receive payments other than interest or other interim payments, you or your nominee must physically deliver the securities to the trustee, registrar, paying agent or other agent, as applicable. Global securities name a depositary or its nominee as the owner of the debt securities or warrants represented by these global securities. The depositary maintains a computerized system that will reflect each investor's beneficial ownership of the securities through an account maintained by the investor with its broker/dealer, bank, trust company or other representative, as we explain more fully below.

**Global Securities**

*Registered Global Securities*. We may issue the registered debt securities and, to the extent applicable, warrants, subscription rights and units in the form of one or more fully registered global securities that will be deposited with a depositary or its nominee identified in the applicable prospectus supplement and registered in the name of that depositary or nominee. In those cases, one or more registered global securities will be issued in a denomination or aggregate denominations equal to the portion of the aggregate principal or face amount of the securities to be represented by registered global securities. Unless and until it is exchanged in whole for securities in definitive registered form, a registered global security may not be transferred except as a whole by and among the depositary for the registered global security, the nominees of the depositary or any successors of the depositary or those nominees.

If not described below, any specific terms of the depositary arrangement with respect to any securities to be represented by a registered global security will be described in the prospectus supplement relating to those securities. We anticipate that the following provisions will apply to all depositary arrangements.

Ownership of beneficial interests in a registered global security will be limited to persons, called participants, that have accounts with the depositary or persons that may hold interests through participants. Upon the issuance of a registered global security, the depositary will credit, on its book-entry registration and transfer system, the participants' accounts with the respective principal or face amounts of the securities beneficially owned by the participants. Any dealers, underwriters or agents participating in the distribution of the securities will designate the accounts to be credited. Ownership of beneficial interests in a registered global security will be shown on, and the transfer of ownership interests will be effected only through, records maintained by the depositary, with respect to interests of participants, and on the records of participants, with respect to interests of persons holding through participants. The laws of some states may require that some purchasers of securities take physical delivery of these securities in definitive form. These laws may impair your ability to own, transfer or pledge beneficial interests in registered global securities.

So long as the depositary, or its nominee, is the registered owner of a registered global security, that depositary or its nominee, as the case may be, will be considered the sole owner or holder of the securities represented by the registered global security for all purposes under the applicable indenture or warrant agreement. Except as described below, owners of beneficial interests in a registered global security will not be entitled to have the securities represented by the registered global security registered in their names, will not receive or be entitled to receive physical delivery of the securities in definitive form and will not be considered the owners or holders of the securities under the applicable indenture or warrant agreement. Accordingly, each person owning a beneficial interest in a registered global security must rely on the procedures of the depositary for that registered global security and, if that person is not a participant, on the procedures of the participant through which the person owns its interest, to exercise any rights of a holder under the applicable indenture or warrant agreement. We understand that under existing industry practices, if we request any action of holders or if an owner of a beneficial interest in a registered global security desires to give or take any action that a holder is entitled to give or take under the applicable indenture or warrant agreement, the depositary for the registered global security would authorize the participants holding the relevant beneficial interests to give or take that action, and the participants would authorize beneficial owners owning through them to give or take that action or would otherwise act upon the instructions of beneficial owners holding through them.

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Principal, premium, if any, and interest payments on debt securities and any payments to holders with respect to warrants represented by a registered global security registered in the name of a depositary or its nominee will be made to the depositary or its nominee, as the case may be, as the registered owner of the registered global security. None of the Company, the trustees, the warrant agents or any other agent of the Company, agent of the trustees or agent of the warrant will have any responsibility or liability for any aspect of the records relating to payments made on account of beneficial ownership interests in the registered global security or for maintaining, supervising or reviewing any records relating to those beneficial ownership interests.

We expect that the depositary for any of the securities represented by a registered global security, upon receipt of any payment of principal, premium, interest or other distribution of underlying securities or other property to holders on that registered global security, will immediately credit participants' accounts in amounts proportionate to their respective beneficial interests in that registered global security as shown on the records of the depositary. We also expect that payments by participants to owners of beneficial interests in a registered global security held through participants will be governed by standing customer instructions and customary practices, as is now the case with the securities held for the accounts of customers in bearer form or registered in "street name," and will be the responsibility of those participants.

If the depositary for any of these securities represented by a registered global security is at any time unwilling or unable to continue as depositary or ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and a successor depositary registered as a clearing agency under the Exchange Act is not appointed by us within 90 days, we will issue securities in definitive form in exchange for the registered global security that had been held by the depositary. Any securities issued in definitive form in exchange for a registered global security will be registered in the name or names that the depositary gives to the relevant trustee or warrant agent or other relevant agent of ours or theirs. It is expected that the depositary's instructions will be based upon directions received by the depositary from participants with respect to ownership of beneficial interests in the registered global security that had been held by the depositary.

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**PLAN OF DISTRIBUTION**

**Initial Offering and Sale of Securities**

Unless otherwise set forth in a prospectus supplement accompanying this prospectus, we may sell the securities being offered hereby, from time to time, by one or more of the following methods:

● to or through underwriting syndicates represented by managing underwriters;

● through one or more underwriters without a syndicate for them to offer and sell to the public;

● through dealers or agents; and

● to investors directly in negotiated sales or in competitively bid transactions.

Offerings of securities covered by this prospectus also may be made into an existing trading market for those securities in transactions at other than a fixed price, either:

● on or through the facilities of the Nasdaq Capital Market or any other securities exchange or quotation or trading service on which those securities may be listed, quoted, or traded at the time of sale; and/or

● to or through a market maker other than on the securities exchanges or quotation or trading services set forth above.

Those at-the-market offerings, if any, will be conducted by underwriters acting as principal or agent of the Company, who may also be third-party sellers of securities as described above. The prospectus supplement with respect to the offered securities will set forth the terms of the offering of the offered securities, including:

● the name or names of any underwriters, dealers or agents;

● the purchase price of the offered securities and the proceeds to us from such sale;

● any underwriting discounts and commissions or agency fees and other items constituting underwriters' or agents' compensation;

● any initial public offering price and any discounts or concessions allowed or reallowed or paid to dealers;

● any securities exchange on which such offered securities may be listed; and

● any underwriter, agent or dealer involved in the offer and sale of any series of the securities.

The distribution of the securities may be effected from time to time in one or more transactions:

● at fixed prices, which may be changed;

● at market prices prevailing at the time of the sale;

● at varying prices determined at the time of sale; or

● at negotiated prices.

Each prospectus supplement will set forth the manner and terms of an offering of securities including:

● whether that offering is being made to underwriters, through agents or directly to the public;

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● the rules and procedures for any auction or bidding process, if used;

● the securities' purchase price or initial public offering price; and

● the proceeds we anticipate from the sale of the securities, if any.

In addition, we may enter into derivative or hedging transactions with third parties, or sell securities not covered by this prospectus to third parties in privately negotiated transactions. The applicable prospectus supplement may indicate, in connection with such a transaction, that the third parties may sell securities covered by and pursuant to this prospectus and an applicable prospectus supplement. If so, the third party may use securities pledged by us or borrowed from us or others to settle such sales and may use securities received from us to close out any related short positions. We may also loan or pledge securities covered by this prospectus and an applicable prospectus supplement to third parties, who may sell the loaned securities or, in an event of default in the case of a pledge, sell the pledged securities pursuant to this prospectus and the applicable prospectus supplement.

**Sales Through Underwriters**

If underwriters are used in the sale of some or all of the securities covered by this prospectus, the underwriters will acquire the securities for their own account. The underwriters may resell the securities, either directly to the public or to securities dealers, at various times in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale. The obligations of the underwriters to purchase the securities will be subject to certain conditions. Unless indicated otherwise in a prospectus supplement, the underwriters will be obligated to purchase all the securities of the series offered if any of the securities are purchased.

Any public offering price and any concessions allowed or reallowed to dealers may be changed intermittently.

**Sales Through Agents**

Unless otherwise indicated in the applicable prospectus supplement, when securities are sold through an agent, the designated agent will agree, for the period of its appointment as agent, to use specified efforts to sell the securities for our account and will receive commissions from us as will be set forth in the applicable prospectus supplement.

Securities bought in accordance with a redemption or repayment under their terms also may be offered and sold, if so indicated in the applicable prospectus supplement, in connection with a remarketing by one or more firms acting as principals for their own accounts or as agents for us. Any remarketing firm will be identified and the terms of its agreement, if any, with us and its compensation will be described in the prospectus supplement. Remarketing firms may be deemed to be underwriters in connection with the securities remarketed by them.

If so indicated in the applicable prospectus supplement, we may authorize agents, underwriters or dealers to solicit offers by certain specified institutions to purchase securities at a price set forth in the prospectus supplement pursuant to delayed delivery contracts providing for payment and delivery on a future date specified in the prospectus supplement. These contracts will be subject only to those conditions set forth in the applicable prospectus supplement, and the prospectus supplement will set forth the commissions payable for solicitation of these contracts.

**Direct Sales**

We may also sell offered securities directly to institutional investors or others. In this case, no underwriters or agents would be involved. The terms of such sales will be described in the applicable prospectus supplement.

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**General Information**

Broker-dealers, agents or underwriters may receive compensation in the form of discounts, concessions or commissions from us and/or the purchasers of securities for whom such broker-dealers, agents or underwriters may act as agents or to whom they sell as principal, or both. This compensation to a particular broker-dealer might be in excess of customary commissions.

Underwriters, dealers and agents that participate in any distribution of the offered securities may be deemed "underwriters" within the meaning of the Securities Act of 1933, as amended (the "Securities Act"), so any discounts or commissions they receive in connection with the distribution may be deemed to be underwriting compensation. Those underwriters and agents may be entitled, under their agreements with us, to indemnification by us against certain civil liabilities, including liabilities under the Securities Act, or to contribution by us to payments that they may be required to make in respect of those civil liabilities. Certain of those underwriters or agents may be customers of, engage in transactions with, or perform services for, us or our affiliates in the ordinary course of business. We will identify any underwriters or agents, and describe their compensation, in a prospectus supplement. Any institutional investors or others that purchase offered securities directly, and then resell the securities, may be deemed to be underwriters, and any discounts or commissions received by them from us and any profit on the resale of the securities by them may be deemed to be underwriting discounts and commissions under the Securities Act.

We will file a supplement to this prospectus, if required, pursuant to Rule 424(b) under the Securities Act, if we enter into any material arrangement with a broker, dealer, agent or underwriter for the sale of securities through a block trade, special offering, exchange distribution or secondary distribution or a purchase by a broker or dealer. Such prospectus supplement will disclose:

● the name of any participating broker, dealer, agent or underwriter;

● the number and type of securities involved;

● the price at which such securities were sold;

● any securities exchanges on which such securities may be listed;

● the commissions paid or discounts or concessions allowed to any such broker, dealer, agent or underwriter, where applicable; and

● other facts material to the transaction.

In order to facilitate the offering of certain securities under this prospectus or an applicable prospectus supplement, certain persons participating in the offering of those securities may engage in transactions that stabilize, maintain or otherwise affect the price of those securities during and after the offering of those securities. Specifically, if the applicable prospectus supplement permits, the underwriters of those securities may over-allot or otherwise create a short position in those securities for their own account by selling more of those securities than have been sold to them by us and may elect to cover any such short position by purchasing those securities in the open market.

In addition, the underwriters may stabilize or maintain the price of those securities by bidding for or purchasing those securities in the open market and may impose penalty bids, under which selling concessions allowed to syndicate members or other broker-dealers participating in the offering are reclaimed if securities previously distributed in the offering are repurchased in connection with stabilization transactions or otherwise. The effect of these transactions may be to stabilize or maintain the market price of the securities at a level above that which might otherwise prevail in the open market. The imposition of a penalty bid may also affect the price of securities to the extent that it discourages resales of the securities. No representation is made as to the magnitude or effect of any such stabilization or other transactions. Such transactions, if commenced, may be discontinued at any time.

In order to comply with the securities laws of certain states, if applicable, the securities must be sold in such jurisdictions only through registered or licensed brokers or dealers. In addition, in certain states the securities may not be sold unless they have been registered or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and is complied with.

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Under Rule 15c6-1 of the Exchange Act, unless the parties to any such trade expressly agree otherwise. trades in the secondary market generally are required to settle (a) in two business days, prior to May 28, 2024 and (b) in one business day starting on May 28, 2024. The applicable prospectus supplement may provide that the original issue date for your securities may be more than two scheduled business days after the trade date for your securities. Accordingly, in such a case, if you wish to trade securities on any date prior to the third business day (prior to May 28, 2024) or second business day (on or after May 28, 2024) before the original issue date for your securities, you will be required, by virtue of the fact that your securities initially are expected to settle in more than three scheduled business days after the trade date for your securities, to make alternative settlement arrangements to prevent a failed settlement.

This prospectus, any applicable prospectus supplement and any applicable pricing supplement in electronic format may be made available on the Internet sites of, or through other online services maintained by, us and/or one or more of the agents and/or dealers participating in an offering of securities, or by their affiliates. In those cases, prospective investors may be able to view offering terms online and, depending upon the particular agent or dealer, prospective investors may be allowed to place orders online.

Other than this prospectus, any applicable prospectus supplement and any applicable pricing supplement in electronic format, the information on our website or the website of any agent or dealer, and any information contained in any other website maintained by any agent or dealer:

● is not part of this prospectus, any applicable prospectus supplement or any applicable pricing supplement or the registration statement of which they form a part;

● has not been approved or endorsed by us or by any agent or dealer in its capacity as an agent or dealer, except, in each case, with respect to the respective website maintained by such entity; and

● should not be relied upon by investors.

There can be no assurance that we will sell all or any of the securities offered by this prospectus.

This prospectus may also be used in connection with any issuance of common stock or preferred stock upon exercise of a warrant if such issuance is not exempt from the registration requirements of the Securities Act.

In addition, we may issue the securities as a dividend or distribution or in a subscription rights offering to our existing securityholders. In some cases, we or dealers acting with us or on our behalf may also purchase securities and reoffer them to the public by one or more of the methods described above. This prospectus may be used in connection with any offering of our securities through any of these methods or other methods described in the applicable prospectus supplement.

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**LEGAL MATTERS**

Unless otherwise indicated in the applicable prospectus supplement, the validity of the securities offered hereby will be passed upon for us by Lowenstein Sandler LLP, Roseland, New Jersey. If the validity of the securities offered hereby in connection with offerings made pursuant to this prospectus are passed upon by counsel for the underwriters, dealers or agents, if any, such counsel will be named in the prospectus supplement relating to such offering.

**EXPERTS**

Our financial statements as of and for the years ended December 31, 2022 and 2021 have been audited by Daszkal Bolton LLP, an independent registered public accounting firm, as set forth in their report thereon appearing in our Annual Report on Form 10-K for the year ended December 31, 2022, and incorporated by reference herein. Such financial statements are incorporated by reference herein in reliance of such report given on the authority of such firm as experts in accounting and auditing.

**ADDITIONAL INFORMATION**

We have filed with the SEC a registration statement on Form S-3 under the Securities Act with respect to the securities offered by this prospectus. This prospectus, which is part of the registration statement, omits certain information, exhibits, schedules and undertakings set forth in the registration statement. For further information pertaining to us and our securities, reference is made to our SEC filings and the registration statement and the exhibits and schedules to the registration statement. Statements contained in this prospectus as to the contents or provisions of any documents referred to in this prospectus are not necessarily complete, and in each instance where a copy of the document has been filed as an exhibit to the registration statement, reference is made to the exhibit for a more complete description of the matters involved.

In addition, registration statements and certain other filings made with the SEC electronically are publicly available through the SEC's web site at http://www.sec.gov. The registration statement, including all exhibits and amendments to the registration statement, has been filed electronically with the SEC.

We are subject to the information and periodic reporting requirements of the Securities Exchange Act of 1934, as amended, and, in accordance with such requirements, will file periodic reports, proxy statements, and other information with the SEC. These periodic reports, proxy statements, and other information will be available for inspection and copying at the web site of the SEC referred to above. We also maintain a website at www.genprex.com, at which you may access these materials free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. The information contained in, or that can be accessed through, our website is not part of, and is not incorporated into, this prospectus. We have included our website address in this prospectus solely as an inactive textual reference.

You should rely only on the information in this prospectus and the additional information described above and under the heading "Incorporation of Certain Information by Reference" below. We have not authorized any other person to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely upon it. We are not making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information in this prospectus was accurate on the date of the front cover of this prospectus only. Our business, financial condition, results of operations and prospects may have changed since that date.

**INCORPORATION OF CERTAIN INFORMATION BY REFERENCE**

The SEC allows us to "incorporate by reference" information that we file with it into this prospectus, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is an important part of this prospectus. The information incorporated by reference is considered to be a part of this prospectus, and information that we file later with the SEC will automatically update and supersede information contained in this prospectus and any accompanying prospectus supplement.

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We incorporate by reference the documents listed below that we have previously filed with the SEC:

● [our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on March 31, 2023](http://www.sec.gov/ix?doc=/Archives/edgar/data/1595248/000143774923008847/gnpx20221231_10k.htm) ;

● our Current Reports on Form 8-K filed with the SEC on [January 5, 2023](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001595248/000143774923000499/gnpx20230103_8k.htm) , [January 6, 2023](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001595248/000143774923000662/gnpx20230103b_8k.htm) , [February 22, 2023](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001595248/000143774923004081/gnpx20230217_8k.htm) , [February 27, 2023](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001595248/000143774923004771/gnpx20230226_8k.htm) , and [March 6, 2023](http://www.sec.gov/ix?doc=/Archives/edgar/data/0001595248/000143774923005555/gnpx20230306_8k.htm) , (other than any portions thereof deemed furnished and not filed); and

● [the description of our common stock contained in our Registration Statement on Form 8-A, filed with the SEC on October 13, 2017, including any amendments thereto or reports filed for the purposes of updating this description](http://www.sec.gov/Archives/edgar/data/1595248/000119312517309662/d454099d8a12b.htm) .

All reports and other documents that we file with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this prospectus but prior to the termination of the offering of the securities hereunder will also be considered to be incorporated by reference into this prospectus from the date of the filing of these reports and documents, and will supersede the information herein; *provided, however*, that all reports, exhibits and other information that we "furnish" to the SEC will not be considered incorporated by reference into this prospectus. Any statement contained in a document incorporated by reference in this prospectus or any prospectus supplement shall be deemed to be modified or superseded to the extent that a statement contained herein, therein or in any other subsequently filed document that also is incorporated by reference herein or therein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus or any prospectus supplement.

We will provide you without charge, upon your oral or written request, with a copy of any or all reports, proxy statements and other documents we file with the SEC, as well as any or all of the documents incorporated by reference in this prospectus or the registration statement (other than exhibits to such documents unless such exhibits are specifically incorporated by reference into such documents). Requests for such copies should be directed to Genprex, Inc., Attn: Chief Financial Officer, 3300 Bee Cave Road, #650-227, Austin, Texas 78746. You may also direct any requests for documents to us by telephone at (512) 537-7997 or e-mail at rconfer@genprex.com.

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**$200,000,000**

**Common Stock**

**Preferred Stock**

**Warrants**

**Debt Securities**

**Subscription Rights**

**Units**

![genprex01.jpg](genprex01.jpg)

**PROSPECTUS**

**June 9, 2023**

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![genprex01.jpg](genprex01.jpg)

**GENPREX, INC.**

**377,780 Shares of Common Stock**

**PROSPECTUS SUPPLEMENT**

**October 28, 2025**

**H.C. Wainwright & Co.**