U.S. Genocea Biosciences to secure $39.2 mln via private placement offering

Genocea Biosciences, a U.S. biopharmaceutical company, has entered into a private placement with certain existing and new investors for the purchase of up to approximately $39.2 million of its common stock and warrants to purchase shares of Genocea common stock, in two closings.

In the first closing, the company will offer 25.6 million shares of common stock and 4.25 million pre-funded warrants to purchase common stock for expected aggregate gross proceeds to Genocea of approximately $15.0 million.

Genocea intends to use the net proceeds from the offering to support the ongoing clinical study of GEN-009, advancing GEN-011, and for working capital and other general corporate purposes.

The first closing of the private placement is expected to occur on or about February 14, 2019, subject to customary closing conditions.