Genocea pulls follow-on

Infectious disease company Genocea Biosciences Inc. (NASDAQ:GNCA) withdrew a proposed follow-on, citing market conditions. The company said it "remains well capitalized" and said its cash should provide runway through at least the end of 2015. At March 31, Genocea had $65.8 million in cash and a three-month operating loss of $6.4 million.

On Monday, Genocea said it planned to sell 3.4 million shares in the offering. If sold at the company's close of $14.87 on Friday, before Genocea set the share figure, the company would have raised $50.6 million. Citigroup; Cowen; Stifel; and Needham were underwriters. ...