With the American Association for Cancer Research (AACR) Annual Meeting started on April 8, many immunology companies focused on oncological treatments are taking part in it. One of the biopharmaceutical companies presenting at the meeting is Genocea Biosciences Inc. (GNCA). On Friday, the company highlighted the data from its TiTANTM clinical trial presented at the meeting. The data sparked a huge sell-off in GNCA stock as it plunged to its new 52-week low on Friday. After a hefty decline of 69.23%, the stock closed the session just above the new low at $0.4000. This sell-off and a new low, in turn, gave way to rebound energy.
Hence, in today’s premarket, on April 11, GNCA stock rebounded to increase by 81.28% at the last check. At the time of writing, the stock was trading at a value of $0.7278 while 2.3 million shares were exchanging. Thus, investors are gladly buying the latest dip in the stock, in today’s premarket.
GNCA’s AACR Presentation
The company’s Phase 1/2a TiTAN trial is investigating the safety, tolerability, T cell persistence, and proliferation along with the clinical activity of GEN-011 in refractory solid tumors. Moreover, the trial is comprised of two cohorts with the second having multiple increasing dose regimens.
Early results from the trial which were presented at the meeting demonstrated anti-tumor activity. The activity was seen despite lower intensity regimens and heavily pretreated tumors. Furthermore, the data set suggested progressive disease in all patients at day 113, with 3 out of five experiencing clear biologic changes after infusion. One patient experienced a 10% reduction in tumor diameters and resolution of associated cough.
The toxicities were in line with the expected results from cell therapy regimens.
Additionally, GNCA also presented data regarding its ongoing work on inhibitory antigens in poster forms.
Market & GNCA Outlook
The immunology market is currently recovering from the impact of Covid-19 and reaching its pre-pandemic levels. Currently, the market has a bullish outlook while certain threats like geopolitical instability and economical pressure with rising inflation and interest rates are looming in the background.
On the other hand, where investors remained unimpressed with GNCA’s recent data from its trial, it is focusing on better results with higher dose regimens. While the shrunken cash position of the company at the end of 2021 is a reason for concern, it expects the cash to be sufficient for progressing into Q3 2022. The company is also said to have strategic plans in motion for extending its operations into 2023.
