GNCA Withdraws Stock Offering, POZN Gets FDA Date, CNCE On Watch

(RTTNews) - Genocea Biosciences Inc. (GNCA) announced that it is not pursuing with its previously announced plans of an underwritten public offering of 3.4 million shares of its common stock due to market conditions.

The company expects its existing cash and cash equivalents to be sufficient to fund its operating expenses and capital expenditure requirements until at least the end of 2015.

Genocea shares had fallen 8 percent to $13.64 on July 14 after the company announced that it has commenced a public offering of stock.

GNCA closed Wednesday's trading at $15.01, up 7.52%.

Rigel Pharmaceuticals Inc. (RIGL) has initiated a phase 3 clinical program for its oral SYK inhibitor, Fostamatinib, in patients with ITP (immune thrombocytopenic purpura). The focus of these clinical studies is to evaluate the potential of Fostamatinib to increase the platelet counts of patients with chronic ITP. Results from the studies are expected at year-end 2015.

RIGL closed Wednesday's trading at $3.20, down 1.23%.

POZEN Inc.'s (POZN) resubmitted New Drug Application seeking approval of PA8140/PA32540 for the secondary prevention of cardiovascular disease in patients at risk for aspirin-induced gastric ulcers has been accepted for review by FDA, and has been assigned a decision date of December 30, 2014.

The FDA issued a complete response letter for PA8140/PA32540 in April of this year citing deficiencies in the manufacturing facility of an active ingredient supplier.

POZN closed Wednesday's trading at $8.20, down 7.34%.

Concert Pharmaceuticals Inc. (CNCE) announced that the FDA has lifted the partial clinical hold on its novel phase I drug candidate for spasticity - CTP-354. Accordingly, the company intends to initiate dosing of 12 mg per day of CTP-354 in the third quarter of this year as part of its ongoing multiple ascending dose phase 1 trial.

CNCE closed Wednesday's trading 2.65% higher at $8.51.