Shares of Genocea Biosciences Inc (NASDAQ:GNCA) have been witnessing selling pressure over the past few sessions with a fall of 18% in a week.
Trading Data
On Friday, GNCA stock fell 2.52% to $1.16 with more than 415k shares, compared to its average volume of 535k shares. The stock has moved within a range of $1.1301 – 1.1940 after opening trade at $1.18.
Latest News
Biopharmaceutical company developing next-generation neoantigen immunotherapies, Genocea Biosciences Inc (NASDAQ:GNCA) on December 31, 2021, gave a business update for quarter three ending September 30, 2021.
Chip Clark, Genocea’s President, and Chief Executive Officer said that the company continues to make much progress. Clark added that the firm is excited about its TiTAN clinical trial for GEN-011, its neoantigen-targeted peripheral T cell therapy candidate. It is anticipating initial data from a small subset of patients in quarter one or quarter two of the next year.
The CEO added that it is keen on its SITC presentations and it will demonstrate neoantigen selection capabilities of its ATLAS platform, through differentiated long-term immunogenicity.
Jennifer Herron was appointed to the firm’s Board of Directors, starting September 8, 2021. Currently, Herron is Senior Vice President and Chief Commercial Officer at ADC Therapeutics SA, leading global commercialization strategy.
In quarter three of 2021, the company had cash and cash equivalents of $48.9 million while its net loss was $3.6 million or $0.05 diluted net loss per share for the quarter ending September 30, 2021.
Genocea’s Research and Development expenses were $9.5 million for the quarter ending September 30, 2021. Its increase can be attributed to growth in internal research and manufacturing teams. Furthermore, its General and Administrative expenses were $3.9 million for the quarter ending September 30, 2021, an increase for the period due to a surge in the internal G&A team.
The company also received other income of $8.1 million for the quarter and $18.8 million for the nine months ending September 30, 2021.
Key Quote
“We continue to make significant progress. Most notably, we are very excited about our TiTAN™ clinical trial for GEN-011, our neoantigen-targeted peripheral T cell therapy (NPT) candidate, from which we expect to have initial data from a small subset of patients in the first quarter or early in the second quarter next year,” said Chip Clark, Genocea’s President and Chief Executive Officer.
Technical Data
GNCA stock is below the 20-Day and 50-Day Moving averages of $1.17 and $1.41 respectively. Moreover, the stock is below the 200-Day moving average of $1.99.
