DALLAS, April 19, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Generex Biotechnology Corp. (Nasdaq:GNBT). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/ads/GNBT
Generex Biotechnology Corp. (GNBT) is engaged in the research, development and commercialization of drug delivery systems and technologies. The Company focuses on its technology for the administration of formulations of large molecule drugs to the oral (buccal) cavity using a hand-held aerosol applicator. Its wholly owned subsidiaries include Generex Pharmaceuticals Inc., Antigen Express Inc., Generex (Bermuda) Inc., Generex Pharmaceuticals (USA) LLC and Generex Marketing & Distribution Inc. The Company is in development stage. In September 2009, the Company announced the incorporation of SIA Generex Biotechnology BALTIC as a wholly owned subsidiary.
In the report, the analyst notes:
"GNBT recently announced that John Muir Physician Network Clinical Research Center has agreed to participate in the U.S. Food and Drug Administration (FDA) Expanded Access Treatment Investigational New Drug (IND) Program for the Company's flagship product, Generex Oral-lyn(TM), a proprietary buccal insulin spray product. In September 2009, the FDA approved the treatment use of Generex Oral-lyn(TM) under the FDA's Treatment IND Program.
"GNBT recently announced that it has entered into a common stock purchase agreement with Seaside 88, LP, a private investment limited partnership. Seaside has committed to purchase up to 49,455,130 shares of GNBT common stock. Seaside will purchase up to 2 million shares every two weeks in up to 25 tranches (with up to 1,455,130 shares purchased in the final tranche). GNBT and Seaside closed the first tranche of 2 million shares for gross proceeds to GNBT of $945,180 at a per share price of $0.47259, being 89% of the 10-day volume weighted average trading price (VWAP) of the Company's common stock on the NASDAQ Capital Market immediately prior to the closing."
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