Genocea Biosciences abandons plans for IPO of 3.4 million shares

Company is well capitalized; deal terminated due to market conditions

By Devika Patel

Knoxville, Tenn., July 16 – Genocea Biosciences, Inc. said it has canceled plans to sell 3.4 million common shares in its initial public offering due to market conditions. The deal was announced on July 3.

The company said it remains well capitalized and expects that its existing cash and cash equivalents will be sufficient to fund its operating expenses and capital expenditure requirements until at least the end of 2015.

The Cambridge, Mass., clinical-stage biotechnology company discovers and develops vaccines for infectious diseases.

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