Genocea Closes Shop, Delists From NASDAQ

Genocea Biosciences Inc's GNCA board has voted to wind down the company's ongoing operations and terminate the remaining employees except those deemed necessary to complete an orderly wind down.
Yesterday, the company delivered formal notice to The Nasdaq Stock Market Inc of its intent to delist voluntarily and its plans to file a Form 25 with the SEC by June 2 to effect the voluntary delisting.
The company received a letter that it was not in compliance with the requirement of the Nasdaq listing.
Also See: Genocea Biosciences Stock Dives After Early Data From GEN-011 Trial In Pretreated Solid Tumor Patients.
Last month, Genocea Biosciences initiated a process to explore a range of strategic alternatives and has engaged an investment bank to act as a strategic advisor for this process.
It announced to cut its workforce by approximately 65%. In light of these developments, the company said it is reviewing its clinical and research programs to determine an appropriate course of action.
Price Action: GNCA shares are down 68% at $0.07 during the premarket session on the last check Tuesday.