1. Scrip
  2. >>Business
  3. >>Start-Ups & SMEs

Finance Watch: Genocea, Mateon Shift Strategies, Cut Jobs To Preserve Cash

 
• By Mandy Jackson

Genocea shifts to preclinical neoantigen-based cancer vaccines rather than advance a Phase III-ready herpes program on its own and Mateon gives up on its lead drug as placebo outperforms. Also, Juno tops recent public company financings and new VC funds back early-stage firms.

Finance Watch

Investors apparently aren't as enthusiastic about Genocea Biosciences Inc.'s neoantigen-focused cancer vaccine program as its CEO is, because the company's stock plunged after it revealed plans to shelve a Phase III-ready herpes therapy to focus on the preclinical immuno-oncology platform.

Genocea made the strategic shift despite the positive Phase IIb results for GEN-003, an immunotherapy for the treatment of genital herpes, that it reported in July. (Also see "Pipeline Watch: Phase III Starts With Rimegepant, ARQ087 And SGX942" - Scrip, 31 July, 2017.) Meanwhile, Mateon Therapeutics Inc

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Start-Ups & SMEs

More from Business

Novo Nordisk’s CEO Forced Out After Falling Behind In GLP-1 Battle

 
• By Andrew McConaghie

Company surprises investors with Jørgensen's exit but insists its strategy will not change.

In Brief: US FDA Delay Sends Biohaven Shares Down

 
• By Andrew McConaghie

The US regulator’s decision has taken Biohaven and investors by surprise, with the reason for a ‘major amendment’ status not clear.

In Brief: Sanofi Commits $20bn To US R&D And Manufacturing By 2030

 
• By Sushmita Panda

Move by French major aligns with broader industry efforts to localize production amid political pressure, as Trump pushes to onshore manufacturing and hints at easing tariff threats.