GENOCEA BIOSCIENCES, INC. (NASDAQ:GNCA) Files An 8-K Costs Associated with Exit or Disposal ActivitiesItem 2.05
Costs Associated With Exit or Disposal Activities.
On September 19, 2017, Genocea Biosciences, Inc., (the “Company”) committed to an approximate 40% reduction in headcount as part of a corporate restructuring following its strategic shift to immuno-oncology and focus on the development of neoantigen cancer vaccines. The Company estimates that it will incur charges for one-time termination benefits in connection with this corporate restructuring of approximately $1.1 million for employee severance, benefits and related costs in the third quarter of 2017, all of which are expected to result in cash expenditures. After the headcount reduction, the Company expects to have approximately 55 employees.
|
Item 7.01 |
Regulation FD Disclosure |
On September 25, 2017, the Company issued a press release announcing its commitment to a corporate restructuring. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
|
Item 9.01 |
Financial Statements and Exhibits. |
See Exhibit Index attached hereto.
GENOCEA BIOSCIENCES, INC. ExhibitEX-99.1 2 gnca_92517-ex991pressrelea.htm EXHIBIT 99.1 Exhibit Exhibit 99.1Genocea Announces Strategic Shift to Immuno-oncology and the Development of Neoantigen Cancer Vaccines – Superior ATLASTM platform for neoantigen selection (1) - – Exploring strategic alternatives for GEN-003 — Announces corporate restructuring -CAMBRIDGE,…To view the full exhibit click here
About GENOCEA BIOSCIENCES, INC. (NASDAQ:GNCA)
Genocea Biosciences, Inc. is a biopharmaceutical company. The Company discovers and develops vaccines and immunotherapies. It uses its discovery platform, AnTigen Lead Acquisition System (ATLAS), to design vaccines and immunotherapies that act, in part, through T cell (or cellular) immune responses. The Company operates through business of developing and commercializing vaccines segment. It has one product candidate in Phase II clinical development: GEN-003, which is a therapeutic vaccine or immunotherapy for the treatment of genital herpes infections. It has pre-clinical development programs, which include GEN-001, which is indicated for the treatment of chlamydia prophylaxis, and GEN-002, which indicated for the treatment of genital herpes prophylaxis both of which are in pre-clinical stage of development. The Company’s pipeline also includes GEN-005, which is under malaria prophylaxis, Epstein-Barr virus and immuno-oncology programs in research stage of development.