Delaware | 001-36289 | 51-0596811 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
Cambridge Discovery Park 100 Acorn Park Drive, 5th Floor Cambridge, MA | 02140 | |
(Address of principal executive offices) | (Zip Code) |
99.1 | Press Release issued by Genocea Biosciences, Inc. on August 6, 2015 |
GENOCEA BIOSCIENCES, INC. | ||
By: | /s/ JONATHAN POOLE | |
Jonathan Poole | ||
Chief Financial Officer |
Exhibit No. | Description | |
99.1 | Press Release issued by Genocea Biosciences, Inc. on August 6, 2015 |
• | Reported positive top-line data from Phase 2 dose optimization trial in May 2015 |
• | 6-month Phase 2 results expected in fourth quarter of 2015 |
• | Phase 2a challenge study efficacy results expected in the fourth quarter of 2015 |
• | Funding expected to be sufficient to complete GEN-003 Phase 2 program |
• | Strengthened balance sheet provides foundation for ongoing business development activities |
• | Cash Position: Cash, cash equivalents and marketable securities as of June 30, 2015 were $74.6 million, compared to $84.5 million as of March 31, 2015. Genocea expects that these funds, together with the net proceeds of approximately $47.0 million from the recent public offering, will be sufficient to fund its operating expenses and capital expenditure requirements into the second half of 2017. |
• | Research and Development (R&D) Expenses: R&D expenses for the quarter ended June 30, 2015 were $7.0 million, compared to $4.6 million for the same period in 2014, reflecting higher personnel costs, increased clinical trial costs associated with the continued advancement of GEN-003 and the ongoing Phase 2a clinical trial for GEN-004, and investments in Genocea's pre-clinical pipeline. |
• | General and Administrative (G&A) Expenses: G&A expenses for the quarter ended June 30, 2015 were $3.2 million, compared to $2.4 million for the same period in 2014 reflecting higher personnel costs to support Genocea's expanding R&D operations and to meet the demands of operating as a public company. |
• | Net Loss: Net loss was $10.3 million for the second quarter of 2015, compared to a net loss of $7.1 million for the same period in 2014. |
June 30, | December 31, | ||||||
2015 | 2014* | ||||||
Cash, cash equivalents and marketable securities | $ | 74,595 | $ | 47,079 | |||
Other assets | 4,121 | 3,253 | |||||
Total assets | $ | 78,716 | $ | 50,332 | |||
Accounts payable | $ | 1,411 | $ | 2,692 | |||
Accrued expenses | 4,160 | 2,486 | |||||
Long term debt | 11,564 | 11,389 | |||||
Other liabilities | 919 | 1,258 | |||||
Total liabilities | 18,054 | 17,825 | |||||
Stockholders' equity | 60,662 | 32,507 | |||||
Total liabilities, and stockholders’ equity | $ | 78,716 | $ | 50,332 |
Three months ended June 30, | Six months ended June 30, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
Grant revenue | $ | 115 | $ | — | $ | 236 | $ | — | |||||||
Operating expenses: | |||||||||||||||
Research and development | 6,969 | 4,551 | 15,478 | 8,958 | |||||||||||
General and administrative | 3,172 | 2,358 | 6,561 | 4,324 | |||||||||||
Total operating expenses | 10,141 | 6,909 | 22,039 | 13,282 | |||||||||||
Loss from operations | (10,026 | ) | (6,909 | ) | (21,803 | ) | (13,282 | ) | |||||||
Other expense, net | (288 | ) | (237 | ) | (595 | ) | (1,193 | ) | |||||||
Net loss | $ | (10,314 | ) | $ | (7,146 | ) | $ | (22,398 | ) | $ | (14,475 | ) | |||
Accretion of redeemable convertible preferred stock to redemption value | - | - | - | (180 | ) | ||||||||||
Net loss attributable to common stockholders | $ | (10,314 | ) | $ | (7,146 | ) | $ | (22,398 | ) | $ | (14,655 | ) | |||
Net loss per share attributable to common stockholders - basic and diluted | $ | (0.430 | ) | $ | (0.410 | ) | $ | (1.040 | ) | $ | (1.080 | ) | |||
Weighted-average number of common shares used in net loss per share attributable to common stockholders - basic and diluted | 24,154 | 17,346 | 21,510 | 13,623 |
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