GNCA Genocea Biosciences Inc.

2.35
-0.19  -7%
Previous Close 2.54
Open 2.54
52 Week Low 1.1
52 Week High 5.75
Market Cap $120,685,185
Shares 51,355,398
Float 40,704,515
Enterprise Value $123,730,185
Volume 922,666
Av. Daily Volume 1,328,945
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Drug Pipeline

Drug Stage Notes
GEN-009
Various cancers
Phase 1/2
Phase 1/2
Phase 1/2 Part B initial data noted 3/5 responses - July 30, 2020.
GEN-011
Various tumors
Phase 1/2
Phase 1/2
Phase 1/2 IND placed on clinical hold - July 20, 2020.
GEN-004
Universal vaccine candidate against pneumococcus
Phase 2
Phase 2
Topline data did not meet endpoints - September 2015

Latest News

  1. Step-down responses to GEN-009, with 3 objective responses (2 PR, 1 CR) in the first 5 patients, suggests added benefit to PD-1 inhibitor therapy

    100% of patients have immune responses to ATLAS-identified neoantigens

    CAMBRIDGE, Mass., Sept. 17, 2020 (GLOBE NEWSWIRE) -- Genocea Biosciences, Inc. (NASDAQ:GNCA), a biopharmaceutical company developing next-generation neoantigen immunotherapies, today presents additional clinical response and immunogenicity data from the first five patients vaccinated in Part B of the ongoing GEN-009 Phase 1/2a trial at the European Society for Medical Oncology (ESMO) Virtual Congress 2020.

    ESMO E-POSTER PRESENTATION:
    Poster 1028P 
    Title: Preliminary results of a pilot trial of GEN-009, a neoantigen vaccine

    Step-down responses to GEN-009, with 3 objective responses (2 PR, 1 CR) in the first 5 patients, suggests added benefit to PD-1 inhibitor therapy

    100% of patients have immune responses to ATLAS-identified neoantigens

    CAMBRIDGE, Mass., Sept. 17, 2020 (GLOBE NEWSWIRE) -- Genocea Biosciences, Inc. (NASDAQ:GNCA), a biopharmaceutical company developing next-generation neoantigen immunotherapies, today presents additional clinical response and immunogenicity data from the first five patients vaccinated in Part B of the ongoing GEN-009 Phase 1/2a trial at the European Society for Medical Oncology (ESMO) Virtual Congress 2020.

    ESMO E-POSTER PRESENTATION:

    Poster 1028P 

    Title: Preliminary results of a pilot trial of GEN-009, a neoantigen vaccine containing immunogenic tumor specific neoantigens, in combination with PD-1 inhibitors in advanced cancers

    Date: September 17, 2020

    Time: at 9:00 a.m. CEST (3:00 a.m. EDT)

    Link to the poster: https://www.esmo.org/meetings/esmo-virtual-congress-2020/registration?hit=ehp

    The results build on the Part B findings shared previously, which evaluated the preliminary immunogenicity and efficacy of GEN-009 in combination with standard-of-care checkpoint inhibitor-based regimens (CPI) in an initial cohort of five patients with advanced solid tumors. All five patients received GEN-009 approximately four months following the start of CPI treatment.

    New follow-up scans, ranging from 91-233 days post-vaccination, confirm the previously disclosed findings, with tumor reduction or stable outcomes for all five patients, including three RECIST-criteria changes in tumor size (2 PR, 1 CR) after vaccination and likely attributable to GEN-009. The new results continue to suggest GEN-009 vaccination could be used in conjunction with CPI-based therapies to augment their effects. In addition, 100 percent of patients had neoantigen-specific responses elicited by vaccination, in some cases with evidence of epitope spread. No significant adverse side effects were reported, with only mild symptoms associated with the vaccine adjuvant.

    "The step-down response curves represent a promising and previously unobserved pattern of tumor response that warrants further investigation," said Maura Gillison, M.D., Ph.D., Professor of Medicine, Department of Thoracic/Head and Neck Medical Oncology at MD Anderson Cancer Center. "It will be important to continue our assessment of GEN-009's specific contribution to the clinical effects seen to date. We look forward to validating these results in a broader cohort to support our hypothesis that inclusion of GEN-009 in CPI regimens may lead to beneficial outcomes for patients with hard-to-treat solid cancers."

    "Our findings, which show that RECIST responses were maintained for at least three months in three of the five patients evaluated, underscore the potential of GEN-009 to boost CPI regimens in hard to treat patients," said Thomas Davis, M.D., Chief Medical Officer of Genocea. "We believe that the path forward to designing better immunotherapies is powered by ATLAS. These results build further confidence that we are indeed targeting relevant tumor antigens for inclusion in our GEN-009 vaccine."

    The company expects to share additional immunogenicity and clinical data from the remaining 10 Part B patients later this year.

    About Genocea Biosciences, Inc.

    Genocea's mission is to conquer cancer by developing personalized cancer immunotherapies in multiple tumor types. Our unique ATLAS™ platform comprehensively profiles each patient's T cell responses to potential targets, or antigens, on the tumor. ATLAS enables us to optimize the neoantigens for inclusion in our immunotherapies and exclude inhibitory antigens that can exert an immunosuppressive effect. We are advancing two ATLAS-enabled programs: GEN-009, our neoantigen vaccine for which we are conducting a Phase 1/2a clinical trial and GEN-011, our neoantigen-specific cell therapy using T cells derived from peripheral blood for which we expect to conduct a Phase 1/2a clinical trial. To learn more, please visit www.genocea.com.

    Forward-Looking Statements

    This press release includes forward-looking statements, including statements relating to GEN-009 and GEN-011, within the meaning of the Private Securities Litigation Reform Act. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Genocea cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time. Applicable risks and uncertainties include those identified under the heading "Risk Factors" included in Genocea's Annual Report on Form 10-K for the year ended December 31, 2019 and any subsequent SEC filings. These forward-looking statements speak only as of the date of this press release and Genocea assumes no duty to update forward-looking statements, except as may be required by law.

    Investor Contact:

    Dan Ferry

    617-430-7576

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  2. CAMBRIDGE, Mass., Sept. 03, 2020 (GLOBE NEWSWIRE) -- Genocea Biosciences, Inc. (NASDAQ:GNCA), a biopharmaceutical company developing next-generation neoantigen immunotherapies, today announced that the company will present incremental follow-up data, including additional tumor scan results and detailed immunogenicity data on the first five patients from Part B of the ongoing GEN-009 Phase 1/2 a trial at the European Society for Medical Oncology (ESMO) Virtual Congress 2020 from September 19-21. Genocea expects to share similar clinical and immunogenicity data from the remaining 10 Part B patients later this year.

    Conferences Details:
    Event:  European Society for Medical Oncology (ESMO) Virtual Congress 2020
    Format:  Poster 1028P and Abstract

    CAMBRIDGE, Mass., Sept. 03, 2020 (GLOBE NEWSWIRE) -- Genocea Biosciences, Inc. (NASDAQ:GNCA), a biopharmaceutical company developing next-generation neoantigen immunotherapies, today announced that the company will present incremental follow-up data, including additional tumor scan results and detailed immunogenicity data on the first five patients from Part B of the ongoing GEN-009 Phase 1/2 a trial at the European Society for Medical Oncology (ESMO) Virtual Congress 2020 from September 19-21. Genocea expects to share similar clinical and immunogenicity data from the remaining 10 Part B patients later this year.

    Conferences Details:
    Event:  European Society for Medical Oncology (ESMO) Virtual Congress 2020
    Format:  Poster 1028P and Abstract #3549; Preliminary results of a pilot trial of GEN-009, a neoantigen vaccine containing immunogenic tumor specific neoantigens, in combination with PD-1 inhibitors in advanced cancers
    Date:  Thursday, September 17TH
    Time:  9:00 a.m. CEST (3.00 a.m. ET)
        
    In addition, Chip Clark, president and chief executive officer, will present via webcast corporate overviews at the virtual Baird Global Healthcare Conference and the virtual H.C. Wainwright 22nd Annual Global Investment Conference.

        
    Conferences Details:

    Event:   Baird Global Healthcare Conference 2020 (virtual)
    Format:  Presentation
    Date:  Thursday, September 10TH
    Time:  4:20 p.m. ET
        
    Event:  H.C. Wainwright 22nd Annual Global Investment Conference (virtual)
    Format:  Presentation
    Date:  Tuesday, September 15TH
    Time:  1:30 p.m. ET

    Live webcasts of these presentations can be accessed by visiting the "Events and Presentations" tab of the investor relations section of the Genocea website at http://ir.genocea.com. Replays of the webcasts will be archived for 90 days following the conferences.

    About Genocea Biosciences, Inc.

    Genocea's mission is to conquer cancer by developing personalized cancer immunotherapies in multiple tumor types.  Our unique ATLAS™ platform comprehensively profiles each patient's T cell responses to potential targets, or antigens, on the tumor. ATLAS enables us to optimize the neoantigens for inclusion in our immunotherapies and exclude inhibitory antigens that can exert an immunosuppressive effect. We are advancing two ATLAS-enabled programs: GEN-009, our neoantigen vaccine for which we are conducting a Phase 1/2a clinical trial and GEN-011, our neoantigen-specific cell therapy using T cells derived from peripheral blood for which we expect to conduct a Phase 1/2a clinical trial. To learn more, please visit www.genocea.com.

    Forward-Looking Statements

    This press release includes forward-looking statements, including statements relating to GEN-009 and GEN-011, within the meaning of the Private Securities Litigation Reform Act. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Genocea cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time. Applicable risks and uncertainties include those identified under the heading "Risk Factors" included in Genocea's Annual Report on Form 10-K for the year ended December 31, 2019 and any subsequent SEC filings. These forward-looking statements speak only as of the date of this press release and Genocea assumes no duty to update forward-looking statements, except as may be required by law.

    Investor Contact:

    Dan Ferry

    617-430-7576

     

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  3. Webcast/conference call scheduled today, July 30th at 8:00 a.m. EDT

    Three of five patients achieved separate RECIST responses after GEN-009 administration

    GEN-009 elicited antigen-specific CD4+ and CD8+ T cell responses in 100% of treated patients

    CAMBRIDGE, Mass., July 30, 2020 (GLOBE NEWSWIRE) -- Genocea Biosciences, Inc. (NASDAQ:GNCA), a biopharmaceutical company developing next-generation neoantigen immunotherapies, will present initial clinical data today on the first five patients from Part B of the ongoing Phase 1/2a study, which explores the combination of Genocea's neoantigen vaccine, GEN-009 and checkpoint inhibitor-based regimens (CPI) in advanced solid tumors. The webcast and presentation will feature Dr. Maura L. Gillison…

    Webcast/conference call scheduled today, July 30th at 8:00 a.m. EDT

    Three of five patients achieved separate RECIST responses after GEN-009 administration

    GEN-009 elicited antigen-specific CD4+ and CD8+ T cell responses in 100% of treated patients

    CAMBRIDGE, Mass., July 30, 2020 (GLOBE NEWSWIRE) -- Genocea Biosciences, Inc. (NASDAQ:GNCA), a biopharmaceutical company developing next-generation neoantigen immunotherapies, will present initial clinical data today on the first five patients from Part B of the ongoing Phase 1/2a study, which explores the combination of Genocea's neoantigen vaccine, GEN-009 and checkpoint inhibitor-based regimens (CPI) in advanced solid tumors. The webcast and presentation will feature Dr. Maura L. Gillison, MD, PhD, Professor of Medicine, Department of Thoracic/Head and Neck Medical Oncology at MD Anderson Cancer Center.

    The trial combines GEN-009 with a Standard of Care (SOC) CPI-based regimen approximately four months after the SOC CPI-based regimen is started. The preliminary findings from the first five patients show three achieving independent RECIST responses starting from the first GEN-009 dose. These responses show an acceleration of shrinkage beyond that of the CPI regimen, creating a novel response plot that supports the effect being attributable to the addition of GEN-009. One such patient achieved a complete response ("CR"), while two demonstrated partial responses ("PR"). Overall, two of the first five patients achieved CRs and three experienced PRs.

    These results are corroborated by the patients' immune responses. Neoantigen-specific CD4+ and CD8+ T cell responses were detected in 100% of patients, with all patients responding to multiple vaccinated antigens. Early comparison of T cell responses post-checkpoint (pre-vaccination) and post-vaccination show that T cell responses are specific to GEN-009 and not augmented by checkpoint blockade.

    "We are incredibly encouraged by these initial results," said Dr. Gillison. "The breadth and magnitude of immune responses validate the complete and partial responses observed in the five patients evaluated. We believe incorporating GEN-009 into standard-of-care immunotherapy regimens may help boost the effectiveness of immune checkpoint inhibitor therapy in patients with advanced disease."

    "We are very pleased this initial data set continues to validate antigen selection using our proprietary ATLAS™ platform," said Chip Clark, President and Chief Executive Officer, Genocea. "We look forward both to reporting data from approximately ten additional patients this fall and to initiating the clinical trial for the neoantigen cell therapy GEN-011, which should similarly benefit from ATLAS to drive anti-tumor responses through T cells targeting the right neoantigens in checkpoint-refractory patients."

    Webcast & Conference Call Information

    Interested participants may access the call by clicking here. For those who are unable to listen in during the event, a replay of the call will be available here.

    A replay of the webcast will be archived for 30 days following the presentation by visiting the "Events and Presentations" tab of the investor relations section of the Genocea website at http://ir.genocea.com.

    About Genocea Biosciences, Inc.

    Genocea's mission is to conquer cancer by developing personalized cancer immunotherapies in multiple tumor types. Our unique ATLAS™ platform comprehensively profiles each patient's T cell responses to potential targets, or antigens, on the tumor. ATLAS enables us to optimize the neoantigens for inclusion in our immunotherapies and exclude inhibitory antigens that can exert an immunosuppressive effect. We are advancing two ATLAS-enabled programs: GEN-009, our neoantigen vaccine for which we are conducting a Phase 1/2a clinical trial and expect preliminary clinical results in the third quarter of 2020, and GEN-011, our neoantigen-specific cell therapy using T cells derived from peripheral blood for which we expect to conduct a Phase 1/2a clinical trial. To learn more, please visit www.genocea.com.

    Forward-Looking Statements

    This press release includes forward-looking statements, including statements relating to GEN-009 and GEN-011, within the meaning of the Private Securities Litigation Reform Act. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Genocea cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time. Applicable risks and uncertainties include those identified under the heading "Risk Factors" included in Genocea's Annual Report on Form 10-K for the year ended December 31, 2019 and any subsequent SEC filings. These forward-looking statements speak only as of the date of this press release and Genocea assumes no duty to update forward-looking statements, except as may be required by law.

    Investor Contact:

    Dan Ferry

    617-430-7576

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  4. Upcoming GEN-009 data update planned for July 30th at 8 a.m. EDT
    Filed IND application for GEN-011 and is working with the FDA to provide additional information
    Private Placement with Leading Life Science Investment Funds

    Conference call today at 8:30 a.m. EDT

    CAMBRIDGE, Mass., July 23, 2020 (GLOBE NEWSWIRE) -- Genocea Biosciences, Inc. (NASDAQ:GNCA), a biopharmaceutical company developing next-generation neoantigen immunotherapies, today reported its operating and financial results for the second quarter ended June 30, 2020. Genocea had an active and productive second quarter, demonstrating important progress across the Company:

    GEN-009

    • On July 30, 2020, the Company plans to present initial clinical data on the first 5 patients from Part…

    Upcoming GEN-009 data update planned for July 30th at 8 a.m. EDT

    Filed IND application for GEN-011 and is working with the FDA to provide additional information

    Private Placement with Leading Life Science Investment Funds

    Conference call today at 8:30 a.m. EDT

    CAMBRIDGE, Mass., July 23, 2020 (GLOBE NEWSWIRE) -- Genocea Biosciences, Inc. (NASDAQ:GNCA), a biopharmaceutical company developing next-generation neoantigen immunotherapies, today reported its operating and financial results for the second quarter ended June 30, 2020. Genocea had an active and productive second quarter, demonstrating important progress across the Company:

    GEN-009

    • On July 30, 2020, the Company plans to present initial clinical data on the first 5 patients from Part B with Dr. Maura L. Gillison, MD, PhD, Professor of Medicine, Department of Thoracic/Head and Neck Medical Oncology at MD Anderson Cancer Center. Part B of the study is exploring the combination of GEN-009 and immune checkpoint inhibitor-based regimens in advanced solid tumors.
    • Presented long-term follow-up data from Part A of the ongoing Phase 1/2a clinical trial at ASCO20 Virtual Scientific Program that evaluates eight participants for duration of immune responses and clinical outcomes.
      • Seven out of eight patients treated on Part A of the study are without disease progression at one-year median follow-up.
      • ATLAS™-identified neoantigens generate broad, sustained T cell responses starting after only 4 weeks and lasting for up to 1 year after the last vaccination.

    GEN-011

    • Hosted a virtual KOL symposium introducing GEN-011 – a neoantigen cell therapy that uses peripheral blood T cells and is powered by ATLAS™ to target the right tumor neoantigens. The event featured commentary from Dr. Eric Tran, Assistant Member at the Earle A. Chiles Research Institute in the Providence Cancer Institute and members of the Genocea management team on GEN-011 as a new category of T cell therapy designed to improve on current limitations of TIL therapy.
    • Filed an Investigational New Drug (IND) application to initiate a Phase 1/2a clinical study of GEN-011 evaluating patient safety, T cell proliferation and persistence, and clinical activity. The trial expects to enroll up to 24 patients and will assess GEN-011 in a range of tumor types, with a focus on patients who have failed standard-of-care checkpoint inhibitor therapy. The Company has received verbal notification from the U.S. Food and Drug Administration (FDA) that the agency has completed its review of the Company's IND for GEN-011. In this verbal feedback, the FDA informed Genocea that it is placing the IND on clinical hold until it receives additional information pertaining to certain third-party reagents used in the GEN-011 manufacturing process. These reagents are not a component of the final cell therapy product. The Company expects to receive official written communication from the FDA regarding the hold and the FDA's position in the near future and plans to work with the FDA to resolve their questions as quickly as possible.

    Private Placement

    • On July 22, 2020 the Company entered into a private placement led by an undisclosed leading U.S. public investment fund specializing in life sciences as well as certain existing and new investors providing for the purchase of up to approximately $80 million of its common stock and warrants to purchase shares of Genocea common stock (before deducting fees to the placement agent and other offering expenses payable by Genocea). Genocea will offer 21.4 million shares of common stock and 12.2 million pre-funded warrants to purchase common stock, along with accompanying warrants to purchase one share of common stock for each share of common stock or pre-funded warrant purchased by an investor. The warrants will be exercisable immediately upon issuance, in whole or in part, at an exercise price of $2.25 per share and will have a 4-year term. The closing of the private placement is expected to occur on or about July 24, 2020, subject to customary closing conditions.

    Shionogi Material Transfer Agreement ("MTA")

    • Entered into an MTA and exclusive license option with Shionogi & Co., Ltd. ("Shionogi") to develop a novel HSV-2 vaccine using Genocea's proprietary HSV-2 antigens from the GEN-003 program, which the company discontinued in 2017. As part of this agreement, the Company received $2 million for the exclusive option to evaluate the HSV-2 antigens and to negotiate a license prior to expiration of the MTA. Upon exercise of Shionogi's option, terms of the license are expected to include an upfront payment, regulatory and sales milestones, as well as tiered royalties. Final terms of the license agreement will be based on results of the MTA evaluation and overall diligence. If licensed, Shionogi will assume responsibility for global development and commercialization of the HSV-2 vaccine product.

    Inhibigens

    • Presented preclinical data at the AACR Virtual Annual Meeting II that furthers understanding of inhibitory antigen (InhibigenTM) function and builds on previous research demonstrating that the presence of an Inhibigen in an otherwise protective immunotherapy can be detrimental to anti-tumor responses.
      • Inhibigens were found to alter the tumor microenvironment and drive tumor hyperprogression and also abolished both global and tumor antigen-specific T cell activity to beneficial anti-tumor antigens.
      • Findings suggest that Inhibigens must be identified and excluded from the rational design of cancer immunotherapies to achieve more favorable patient outcomes.

    "We continue to advance our clinical programs for patients living with cancer," said Chip Clark, President and Chief Executive Officer, Genocea. "I am pleased by our ability to remain on track during these uncertain times, meeting our highest priority milestones and working to deliver on the promise of developing effective immunotherapies through our unique and differentiated approach."

    Second Quarter 2020 Financial Results

    • Cash position: As of June 30, 2020, cash and cash equivalents were $22.1 million versus $40.1 million as of December 31, 2019.
    • Research and Development (R&D) expenses: R&D expenses were $8.6 million for the quarter ended June 30, 2020, compared to $6.8 million for the same period in 2019.
    • General and Administrative (G&A) expenses: G&A expenses were $3.5 million for the quarter ended June 30, 2020, compared to $3.2 million for the same period in 2019.
    • Net loss: Net loss was $11.3 million for the quarter ended June 30, 2020, compared to $6.5 million for the same period in 2019.

    Guidance

    Genocea expects that its existing cash and cash equivalents inclusive of the private placement proceeds are sufficient to support its operations to mid-2022.

    Conference Call

    Genocea will host a conference call and webcast today at 8:30 a.m. EDT. Interested participants may access the conference call by dialing (844) 826-0619 (domestic) or (315) 625-6883 (international) and referring to conference ID number 8894505. To join the live webcast, please visit the presentation page of the investor relations section of the Genocea website at https://ir.genocea.com/events-and-presentations. A webcast replay of the conference call will be available on the Genocea website beginning approximately two hours after the event and will be archived for 90 days.

    GEN-009 Clinical Update Registration

    Genocea will present a clinical update on GEN-009 on Thursday, July 30 at 8 a.m. EDT. Interested participants may access this event by registering here.

    About Genocea Biosciences, Inc.

    Genocea's mission is to conquer cancer by developing personalized cancer immunotherapies in multiple tumor types. Our unique ATLAS™ platform comprehensively profiles each patient's T cell responses to potential targets, or antigens, on the tumor. ATLAS enables us to optimize the neoantigens for inclusion in our immunotherapies and exclude inhibitory antigens that can exert an immunosuppressive effect. We are advancing two ATLAS-enabled programs: GEN-009, our neoantigen vaccine for which we are conducting a Phase 1/2a clinical trial and expect preliminary clinical results in the third quarter of 2020, and GEN-011, our neoantigen-specific cell therapy using T cells derived from peripheral blood for which we expect to conduct a Phase 1/2a clinical trial. To learn more, please visit www.genocea.com.

    Forward-Looking Statements

    This press release includes forward-looking statements, including statements relating to GEN-009 and GEN-011, within the meaning of the Private Securities Litigation Reform Act. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Genocea cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time. Applicable risks and uncertainties include those identified under the heading "Risk Factors" included in Genocea's Annual Report on Form 10-K for the year ended December 31, 2019 and any subsequent SEC filings. These forward-looking statements speak only as of the date of this press release and Genocea assumes no duty to update forward-looking statements, except as may be required by law.

    Investor Contact:

    Dan Ferry

    617-430-7576

    (Tables to follow)

    GENOCEA BIOSCIENCES, INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

    (In thousands)

      June 30, 2020 December 31, 2019
         
    Cash and cash equivalents $22,108  $40,127 
    Right of use assets 11,265  6,306 
    Other assets 7,143  6,178 
    Total assets $40,516  $52,611 
         
    Debt, current and long-term $13,627  $13,407 
    Accounts payable and accrued expenses 4,749  5,164 
    Deferred revenue 1,094   
    Lease liabilities 11,526  6,512 
    Warrant liability 1,483  2,486 
    Total liabilities 32,479  27,569 
    Stockholders' equity 8,037  25,042 
    Total liabilities and stockholders' equity $40,516  $52,611 



    GENOCEA BIOSCIENCES, INC.


    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

    (In thousands, except per share data)

     Three Months Ended

    June 30,
     Six Months Ended

    June 30,
     2020 2019 2020 2019
    License revenue$906  $  $906  $ 
            
    Operating expenses:       
    Research and development8,587  6,849  18,574  13,309 
    General and administrative3,480  3,217  6,868  6,234 
    Total operating expenses12,067  10,066  25,442  19,543 
    Loss from operations(11,161) (10,066) (24,536) (19,543)
    Other (expense) income(160) 3,571  362  (2,519)
    Net loss$(11,321) $(6,495) $(24,174) $(22,062)
            
    Net loss per share - basic and diluted$(0.39) $(0.42) $(0.84) $(1.57)
    Weighted-average number of common shares used in computing net loss per share29,142  15,344  28,642  14,035 

     

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  5. CAMBRIDGE, Mass., July 22, 2020 (GLOBE NEWSWIRE) -- Genocea Biosciences, Inc. (NASDAQ:GNCA), a biopharmaceutical company developing personalized cancer immunotherapies, today announced that it has entered into a private placement led by an undisclosed leading U.S. public investment fund specializing in life sciences as well as certain existing and new investors providing for the purchase of up to approximately $80 million of its common stock and warrants to purchase shares of Genocea common stock (before deducting fees to the placement agent and other offering expenses payable by Genocea). Genocea will offer 21.4 million shares of common stock and 12.2 million pre-funded warrants to purchase common stock, along with accompanying warrants to…

    CAMBRIDGE, Mass., July 22, 2020 (GLOBE NEWSWIRE) -- Genocea Biosciences, Inc. (NASDAQ:GNCA), a biopharmaceutical company developing personalized cancer immunotherapies, today announced that it has entered into a private placement led by an undisclosed leading U.S. public investment fund specializing in life sciences as well as certain existing and new investors providing for the purchase of up to approximately $80 million of its common stock and warrants to purchase shares of Genocea common stock (before deducting fees to the placement agent and other offering expenses payable by Genocea). Genocea will offer 21.4 million shares of common stock and 12.2 million pre-funded warrants to purchase common stock, along with accompanying warrants to purchase one share of common stock for each share of common stock or pre-funded warrant purchased by an investor. The warrants will be exercisable immediately upon issuance, in whole or in part, at an exercise price of $2.25 per share and will have a 4-year term. The closing of the private placement is expected to occur on or about July 24, 2020, subject to customary closing conditions.

    Genocea intends to use the net proceeds from this private placement to fund continued clinical and program development of its neoantigen vaccine GEN-009 and its neoantigen cell therapy GEN-011, as well as for working capital and other general corporate purposes.

    Stifel is acting as sole placement agent for the private placement.  Brookline Capital Markets, a division of Arcadia Securities, LLC is serving as financial advisor to the Company in connection with the private placement.

    The securities sold in the offering have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Genocea has agreed to file a resale registration statement with the Securities and Exchange Commission (the "SEC") within 30 days of the closing of the offering for purposes of registering the resale of the shares of common stock issued or issuable in connection with the offering.

    This notice is issued pursuant to Rule 135c under the Securities Act and does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state. Any offering of the securities under the resale registration statement will only be by means of a prospectus.

    About Genocea Biosciences, Inc.

    Genocea's mission is to conquer cancer by developing personalized cancer immunotherapies in multiple tumor types.  Our unique ATLAS™ platform comprehensively profiles each patient's T cell responses to potential targets, or antigens, on the tumor. ATLAS enables us to optimize the neoantigens for inclusion in our immunotherapies and exclude inhibitory antigens that can exert an immunosuppressive effect. We are advancing two ATLAS-enabled programs: GEN-009, our neoantigen vaccine for which we are conducting a Phase 1/2a clinical trial and expect preliminary clinical results in the third quarter of 2020, and GEN-011, our neoantigen-specific cell therapy using T cells derived from peripheral blood for which we expect to conduct a Phase 1/2a clinical trial.

    Genocea Forward-Looking Statement

    This press release includes forward-looking statements, including statements relating to immunogenicity-related clinical trial results, the proposed offering terms and the use of the net proceeds therefrom, within the meaning of the Private Securities Litigation Reform Act. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Genocea cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Applicable risks and uncertainties include those identified under the heading "Risk Factors" included in Genocea's Annual Report on Form 10-K for the year ended December 31, 2019 and any subsequent SEC filings. These forward-looking statements speak only as of the date of this press release and Genocea assumes no duty to update forward-looking statements.

    Investor Contact:

    Dan Ferry

    617-430-7576

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