GNPX 2017 Annual Report

F-11 Common Stock Purchase Warrants Common Stock purchase warrant activity for years ended December 31, 2017 and December 31, 2016 respectively are as follows: Number of Weighted Avg. Warrants Exercise Price Outstanding at January 1, 2016 205,404 $ 4.87 Issued 542,656 5.29 Cancelled or expired — — Exercised — — Outstanding at December 31, 2016 748,060 $ 5.17 Issued — — Cancelled or expired — — Exercised — — Outstanding at December 31, 2017 748,060 $ 5.17 During November 2016, we granted warrants to purchase 542,656 shares of our voting Common Stock with a per share strike price of $5.29, taking into account the forward-split ratio from the Company’s IPO. We received $8,119 for the purchase of these warrants. Stock Options We have outstanding stock options to purchase 2,628,749 shares of Common Stock, taking into account the forward-split ratio from the Company’s IPO, that have been granted to various employees, vendors and independent contractors. These options vest over periods ranging from twelve (12) to forty-eight (48) months, are exercisable for a period of ten years, and enable the holders to purchase shares of our Common Stock at exercise prices ranging from $0.001 - $5.286. The per-share fair values of these options range from $0.001 to $2.68, based on Black-Scholes-Merton pricing models with the following assumptions. The weighted average remaining contractual term for the outstanding options at December 31, 2017 and 2016 is 7.26 and 8.24, years, respectively. Stock Options, continued Stock option activity for the year ended December 31, 2017 and December 31, 2016, respectively, is as follows: Number of Weighted Avg. Shares Exercise Price Balance, January 1, 2016 671,069 $ 0.01 Options granted 1,957,680 1.76 Options exercised — — Options expired — — Outstanding at December 31, 2016 2,628,749 $ 1.31 Options granted — — Options exercised — — Options expired — — Outstanding at December 31, 2017 2,628,749 $ 1.31 Note 6 – Related Party Transactions Introgen Research Institute Introgen Research Institute (“IRI”) is a Texas-based technology company, currently affiliated with Rodney Varner, our CEO. In April 2009, prior to Mr. Varner becoming an officer and director of our Company in August 2012, we entered into an Assignment and Collaboration Agreement with IRI, providing us with the exclusive right to commercialize a portfolio of intellectual property. This agreement was amended in 2011 to include additional sublicensing of additional intellectual property made available to IRI from the University of Texas MD Anderson Cancer Center (“UTMDACC”).