Shares of the Genocea Biosciences, Inc. (GNCA) stock rallied in the premarket today on December 23, 2021. GNCA stock price saw a push of 18.27% to reach $1.23 a share at the time of this writing. The stock was also green in the previous trade and went up by 7.23% at closing. Let’s dig in to understand the current momentum of this stock.
What’s Happening?
GNCA stock is getting positive momentum for the past couple of days in the stock market. However, there is no press release or any announcement by the company to support the current bullish sentiment. No analyst has upgraded or increased the per-share target price of the GNCA stock in recent times. From the social media analysis, it seems that the social media discussions among the investors are driving this stock high in the market. So, what do you need to know at this point? Let’s discuss some recent events of GNCA stock.
Financial View of GNCA stock:
On October 28, 2021, Genocea announced third quarter 2021 financial results according to which
The company suffered a net loss of $3.6 million in the third quarter of 2021. Net loss of the company in the same quarter of the last year was $4.6 million. Diluted net loss per share of the GNCA stock in the third quarter of 2021 was $0.05 per share. In the first nine months of 2021, the net loss of the company was $19.9 million or $0.54 per share. The net loss was $28.7 million or $1.01 per share in the first nine months of 2021.
The company spent $9.5 million in research and development expenses in the third quarter of 2021. These expenses were $7.5 million in the same tenure of the previous year. General and administrative expenses for Genocea were $3.9 million as compared to $3.6 million in the same quarter of last year.
Other income of the Genocea Biosciences was $8.1 million in the three months ended September 30, 2021. Other income in the same period of the previous year was $6.2 million for the company and for the first nine months of 2021, it was $18.8 million.
The company ended the quarter with $48.9 million in cash and cash equivalents.
New Appointment by GNCA stock:
In September, Genocea announced the appointment of Jennifer Herron, Senior Vice President & Chief Commercial Officer at ADC Therapeutics SA as a member of the company’s board of directors. Ms. Herron served many multinational pharmaceutical companies in commercial leadership roles.
