- Founded: 2006
- Headquarters: Cambridge, MA
- genocea.com
Genocea Biosciences announces strategic shift to immuno-oncology/development of neoantigen cancer vaccines; corporate restructuring and exploration of strategic alternatives for GEN-003
- Co announced a strategic shift to immuno-oncology and a focus on the development of neoantigen cancer vaccines, including GEN-009, its lead candidate for which it expects to file an Investigational New Drug (IND) application by early 2018.
- Genocea also announced it is exploring strategic alternatives for GEN-003, its Phase 3-ready investigational immunotherapy for the treatment of genital herpes. Consequently, Genocea is ceasing GEN-003 spending and activities and is reducing its workforce by approximately 40 percent.
- The company plans to initiate a Phase 1 clinical trial for GEN-009 in a range of tumor types in the first half of 2018 and expects to report initial immunogenicity data in the first half of 2019.
- As a result of the workforce restructuring, which is anticipated to be completed by the end of the third quarter, Genocea estimates annualized savings of approximately $6.5 million in personnel-related costs, with estimated one-time severance and related costs of approximately $1.1 million in the third quarter of 2017. Genocea now expects that its existing cash and cash equivalents are sufficient to support its operating expenses and capital expenditure requirements into the middle of 2018.
Key stats and ratios
| Q2 (Jun '17) | 2016 | |
| Net profit margin | - | -21094.89% |
| Operating margin | - | -20529.79% |
| EBITD margin | - | -19758.30% |
| Return on average assets | -125.53% | -54.46% |
| Return on average equity | -235.87% | -73.33% |
| Employees | 98 |
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