Follow-on Offering

Healthcare
Follow-on Offering

Summary

Baird served as a lead-manager on this offering

About

Genocea Biosciences, Inc. (“Genocea” or the “Company”) (NASDAQ:GNCA) recently completed concurrent underwritten public offerings of (i) 53,365,000 shares of its common stock and accompanying Class A warrants to purchase up to 26,682,500 shares of its common stock, at a combined price to the public of $1.00 per share and accompanying Class A warrant to purchase 0.5 shares of common stock, for gross proceeds of approximately $53.4 million and (ii) 1,635 shares of its Series A convertible preferred stock, which are convertible into 1,635,000 shares of its common stock, and accompanying Class A warrants to purchase up to 817,500 shares of its common stock, for expected aggregate gross proceeds of approximately $1.6 million. Each Class A warrant will have an exercise price of $1.20 per share and will expire five years from the date of issuance. In connection with the offering, Genocea has granted the underwriters a 30-day option to purchase up to an additional 8,004,750 shares of common stock and additional Class A warrants to purchase up to 4,002,375 shares of common stock. NEA has participated in the Common Stock Offering and Vivo Capital has participated in both the Common Stock Offering and the Preferred Stock Offering. Genocea intends to elect one representative from NEA to serve as a member of its board of directors. Genocea intends to use the net proceeds from the offering to fund its research and development efforts to further advance its pipeline of product candidates, including planned clinical trials for GEN-009, and for working capital and other general corporate purposes.

Genocea is a biopharmaceutical company harnessing the power of T cell immunity to develop cancer vaccines and immunotherapies. The Company has developed ATLAS, a proprietary technology platform used to identify clinically relevant antigens of T cells based on actual human immune responses. Genocea is using ATLAS in immuno-oncology applications to develop neoantigen cancer vaccines while also exploring partnership opportunities for general cancer vaccines and a vaccine targeting cancers caused by Epstein-Barr Virus. Genocea plans to begin clinical development of its first neoantigen cancer vaccine, GEN-009, in 1H 2018. The Company is also developing GEN-010, a follow-on program to GEN-009, and plans to file an IND for the drug in late 2018. Genocea is located in Cambridge, Massachusetts.
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Healthcare
Follow-on Offering
Date
January 2018
Company
Genocea Biosciences, Inc.
Transaction
M&A
Sectors
Healthcare
Target Location
North America

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