Genocea Tumbles on Share Offering

Genocea Biosciences Inc (NASDAQ:GNCA) reported a 10-million-share common stock offering.

The company, out of Cambridge, Mass., is a biopharmaceutical company developing personalized cancer immunotherapies. Genocea expects to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of its common stock sold in the public offering.

The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.

A registration statement relating to the securities being sold in this offering has been filed with the Securities and Exchange Commission, but has not yet become effective.

GNCA’s unique ATLAS™ technology platform allows us to identify immunotherapy targets based on each person’s tumor antigen-specific T cell responses. Using ATLAS, the company can both optimize neoantigens for inclusion in our immunotherapies and exclude so-called "inhibitory" antigens that appear to exert an immunosuppressive effect on the patient.

The company also says it is advancing complementary programs built from ATLAS insights: GEN-009, our neoantigen vaccine candidate for which GNCA is conducting a Phase 1/2a clinical trial across a variety of solid tumor types, and GEN-011, its neoantigen-specific adoptive T cell therapy, for which the company intends to file an Investigational New Drug Application in the first half of 2020.

Shares dropped 67 cents, or 13.1%, to $4.45