GENOCEA BIOSCIENCES, INC. (NASDAQ:GNCA) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01 – Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On November 28, 2017, Genocea Biosciences, Inc. (the “Company”) received a notice from The Nasdaq Stock Market (“Nasdaq”) that the Company is not in compliance with Nasdaq’s Listing Rule 5450(b)(2)(A) (the “Rule”), as the market value of the Company’s common stock has been below $50 million for 30 consecutive business days. The notification of noncompliance has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Global Market under the symbol “GNCA”.
The Company has 180 days, or until May 29, 2018, to achieve compliance with the minimum market value requirement. To regain compliance, the minimum market value of the Company’s common stock must meet or exceed $50 million for a minimum of ten consecutive business days during this 180- day grace period. The Company’s failure to regain compliance during this period could result in delisting. In the event that the Company does not regain compliance with the Rule prior to the expiration of the grace period, the Company expects to receive written notification that its common stock is subject to delisting, in which case the Company may either apply for listing on The NASDAQ Capital Market, provided it meets the continued listing requirements of that market, or appeal the decision to a NASDAQ Hearings Panel (the "Panel"). In the event of an appeal, the Company’s common stock would remain listed on The NASDAQ Global Market pending a decision by the Panel following the hearing. The Company is currently evaluating its options for regaining compliance.
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.