- Company files IND for lead neoantigen vaccine program, GEN-009 -
- ATLAS™ platform continues to stand apart from in silico methods of neoantigen identification -
- Conference call today at 9 am ET -
- January 2018: Genocea announced completion of a financing resulting in net proceeds of $51.7 million, including significant investments by New Enterprise Associates (NEA) and Vivo Capital. (Vivo).
- January 2018: The U.S. Patent and Trademark Office issued an allowance on United States Patent 9,873,870, further strengthening the Company’s intellectual property position on its ATLAS platform for the identification and characterization of neoantigens and tumor-associated antigens.
- January 2018: Genocea and Oncovir, Inc. entered into a license and supply agreement for Oncovir’s Hiltonol® (poly-ICLC) adjuvant, a key component of Genocea’s personalized cancer vaccine candidate, GEN-009.
- February and March 2018: Genocea strengthened its leadership through the election of NEA partner Ali Behbahani, M.D., to its Board of Directors, and the appointment of industry veteran Narinder Singh as senior vice president of pharmaceutical sciences and manufacturing.
- April 2018: Genocea scientists presented data at the 2018 Annual Meeting of the American Association for Cancer Research (AACR) further highlighting the advantages of its ATLAS platform over in silico methods in neoantigen identification and detailing the development of a novel model to study the mechanism of inhibitory antigens identified by ATLAS.
- April 2018: Genocea filed an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) to begin clinical development of GEN-009. Genocea plans to initiate a Phase 1/2a clinical trial for GEN-009 in patients with a variety of tumor types in the second half of 2018 and to report top-line immune response data from this trial in the first half of 2019.
- Cash Position: As of March 31, 2018, cash and cash equivalents were $51.2 million compared to $12.3 million as of December 31, 2017.
- Research and Development (R&D) Expenses: R&D expenses were $7.3 million for the quarter ended March 31, 2018, compared to $9.7 million for the same period in 2017. The decrease was largely due to reduced headcount, consulting and professional service costs, and decreased clinical costs.
- General and Administrative (G&A) Expenses: G&A expenses were $3.1 million for the quarter ended March 31, 2018, compared to $3.6 million for the same period in 2017. The decrease was primarily due to reduced compensation, consulting, and professional services.
- Net Loss: Net loss was $15.3 million for the quarter ended March 31, 2018, compared to a net loss of $13.7 million for quarter ended March 31, 2017. The increase in net loss is principally due to the change in fair value of warrants during the first quarter of 2018, related to the January 2018 public offering.
GENOCEA BIOSCIENCES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
|March 31,||December 31,|
|Cash and cash equivalents||$||51,179||$||12,272|
|Debt, current and long-term||$||13,874||$||14,311|
|Accrued expenses and other liabilities||4,514||5,711|
|Stockholders' equity (deficit)||14,568||(6,050|
|Total liabilities and stockholders’ equity||$||56,464||$||17,488|
GENOCEA BIOSCIENCES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except per share amounts)
|Three months ended|
|Research and development||$||7,275||$||9,742|
|General and administrative||3,109||3,634|
|Total operating expenses||10,384||13,376|
|Loss from operations||(10,384||)||(13,376||)|
|Change in fair value of warrants||(4,697||)||—|
|Interest expense, net||(208||)||(359||)|
|Total other expense||(4,905||)||(359||)|
|Net loss per share - basic and diluted||$||(0.21||)||$||(0.48||)|
|Weighted-average number of common shares used in computing net loss per share||71,238||28,496|