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 June 15, 2018, Genocea Biosciences, Inc. (the “Company”) received a letter from the Nasdaq Listing Qualifications department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it was not in compliance with the requirement of Nasdaq Marketplace Rule 5450(a)(1) for continued inclusion on The Nasdaq Global Market as a result of the closing bid pricefor the Company’s common stock being below $1.00 for 30 consecutive business days. This notification has no effect on the listing of the Company’s common shares at this time.
The Nasdaq Marketplace Rules provide the Company with 180 calendar days, or until December 12, 2018, to regain compliance, which will require a closing bid pricefor the Company’s common stock above $1.00 for a minimum of 10 consecutive business days. If the Company does not comply with Marketplace Rule 5450(a)(1) by December 12, 2018, the Company may be eligible for additional time to demonstrate compliance with the bid price requirement. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. If the Company meets these requirements, the Company will be granted an additional 180 days or until June 10, 2019 to become compliant. If the Company does not qualify for the second compliance period or fails to regain compliance during the second 180-day period, then Nasdaq will notify the Company of its determination to delist the Company’s common shares, at which point the Company would have an opportunity to appeal the delisting determination to a hearings panel.
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.