GNCA Prices Offering At $8.25/Share

(RTTNews) - Genocea Biosciences Inc. (GNCA) has offered to sell about 5.45 million shares of its common stock to the public at a price of $8.25 each. The underwriters have a 30-day option to purchase up to an additional 818,181 shares of common stock.

The offering, which is scheduled to close on or about March 17, 2015, is expected to rake in proceeds of $45 million in the offering. The company ended December 31, 2014 with cash of $47.1 million.

Genocea has two vaccine candidates in clinical development - GEN-003 for genital herpes and GEN-004 for pneumococcus.

Genocea completed enrollment in its phase 2 dose optimization clinical trial for GEN-003 in January of this year. The viral shedding rate and genital lesion rate changes from baseline for each dose group for the 28-day monitoring period after vaccination are expected to be reported late in the second quarter of 2015.

GEN-004 for pneumococcus is under a phase 2a human challenge study, and top-line results from this trial are expected in the fourth quarter of 2015.

GNCA closed Thursday's trading at $9.11, up 7.43%.