[July 16, 2014] |
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Genocea Biosciences, Inc. Elects Not to Pursue Public Offering
CAMBRIDGE, Mass. --(Business Wire)--
Genocea Biosciences, Inc. (NASDAQ:GNCA), a clinical-stage
biopharmaceutical company developing T cell-enabled vaccines and
immunotherapies, today announced that, due to market conditions, it has
elected not to proceed at this time with its previously announced plans
to pursue an underwritten public offering of 3,400,000 shares of its
common stock.
Genocea remains well capitalized and expects that its existing cash and
cash equivalents will be sufficient to fund its operating expenses and
capital expenditure requirements until at least the end of 2015.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Genocea Biosciences, Inc.
Genocea is harnessing the power of T cell immunity to develop
life-changing vaccines and immunotherapies. T cells are increasingly
recognized as a critical element of protective immune responses to a
wide range of diseases, but traditional discovery methods have proven
unable to identify the targets of such protective immune response. Using
ATLAS™, its proprietary technology platform, Genocea identifies these
targets to potentially enable the rapid development of medicines to
address critical patient needs. Genocea's pipeline of novel clinical
stage T cell-enabled product candidates includes GEN-003 for HSV-2
therapy, GEN-004 to prevent infections caused by pneumococcus, and
earlier-stage programs in chlamydia, HSV-2 prophylaxis, malaria and
cancer immunotherapy.
Forward-Looking Statements
This press release includes forward-looking statements, including
statements relating to the proposed underwritten public offering. 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 the preliminary
prospectus related to the proposed offering filed with the Securities
and Exchange Commission (the "SEC (News - Alert)") on July 14, 2014, and in other
filings that Genocea may make with the SEC in the future. These
forward-looking statements speak only as of the date of this press
release and Genocea assumes no duty to update forward-looking statements.

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