Genprex is besties with the FDA
The Doctor is In Genprex Inc (GNPX) traded seriously high on Monday after the company announced they had received FDA Fast Track Designation (FTD) for their primary asset, REQORSA. This is really great news for the gene-therapy company, but less good news for Merck & Co (MRK) since Genprex has been approved to test REQORSA in non-small cell lung cancer patients whose disease progressed after treatment with MRK’s own Keytruda. If they pull this off, GNPX could be laughing all the way to the bank as they move with confidence into their Acclaim – 2 Trials for REQORSA.
- The stock saw +167% growth by market close on Monday, the most growth since February 2021.
- GNPX is looking to be the FDA’s golden boy as this is the second time they’ve received FTD for REQORSA. Previously they had received FTD to follow up on the shortcomings of Astrazenaca’s Tagrisso treatment in patients with unresectable stage III.
- FDA Fast Track Designation status also indicates that Genprex has a closer connection to the administration and that if they see success with their REQORSA trails, further developmental milestones and possibly its approval could be fast-tracked as well.
There is no doubt that the news of gaining their second FDA Fast Track Designation puts the wind into Genprex’s sails, signaling there’s confidence in REQORSA’s ability to tackle niche cancers. With that in mind, Genprex’s stock history does reveal a series of rises and dips so of course nothing is a guarantee. That being said, receiving their second FTD is a serious milestone in their development and could signal a healthy future for the company.
Elon adds a record number of
Shares of Tesla (TSLA) rallied 13.53% on Monday following a record Q4 delivery report that blew away analysts’ estimates by more than 17%. Big numbers aside, quarterly delivery reports are a strong gauge of the company’s financial health and performance. While Tesla is the most well-known, Chinese EV makers NIO, XPEV, and LI also reported record delivery numbers in the fourth quarter.
- Tesla’s Q4 deliveries came in at 308,600 vehicles vs. the average analyst estimate of 263,000.
- The quarterly delivery numbers include all Tesla models and have increased in six consecutive quarters.
- While vehicle manufacturers across the globe felt the impact of chip shortages, and not the kind my kids cry about when there’s no more Cool Ranch Doritos in the pantry, Tesla reprogrammed software to use less scarce chips like Pringles…I assume.
Tesla could continue to see growth as their Austin and Berlin factories ramp up with new technology and teams in 2022. That said, the increase in competition from other startup EV makers as well as old stalwarts like GM and Ford could cause a slowdown in that growth. TSLA took a hit starting in early November when Elon started selling a 10% stake in the company but has quickly rebounded over the last two weeks. The stock’s ATH of $1243.49 put in on November 4th is within sight and could be a pivotal price for both buyers and sellers alike.
Eden 2.0 – Apple Hits 3T Market Cap
It may have been for just a fleeting moment but during Monday trading, Apple (APPL, if you didn’t already know) became the first US company to hit a market cap of $3T. “Tim Apple” must be laughing on a throne of melted blackberries (RIP In Peace) as Apple beats Microsoft, Amazon, and Google all to the punch. This moment reveals how big tech has emerged from the Covid years as the biggest leaders in the market.
- Apple has always been treated as a safe investment (at least in the 21st century) but their sales growth in Q4 of 2021 was seriously robust. The iPhone franchise has maintained its relevance and their services have grown exponentially with 25% growth YoY, delivering over $18B in Q4.
- Investors are also potentially bullish on Apple’s ability to grow into new markets, with their plays for the VR/AR and EV markets hopefully bearing fruit as those technologies become the standard.
While hitting $3T market cap for an instant is largely symbolic, this does demonstrate Apple’s dominance in tech while heralding the staying power in the face of market uncertainty (no duh). Sure, the Fruit is facing some of the biggest regulatory pressure in its history and significant competition in VR and EVs, but they’re freakin’ Apple… unless the iPhone becomes the most hated phone in the world, they’ll still be on top.