Connect with us

Stocks

Genocea Biosciences Is Shutting Down. What GNCA Stock Investors Should Know.

Genocea Biosciences (NASDAQ:GNCA) is closing down its business.
It’s terminating all employees not needed to shut the company down.
This also has it delisting shares of GNCA stock.

Source: arfa adam / Shutterstock.com

Genocea Bioscie…

  • Genocea Biosciences (NASDAQ:GNCA) is closing down its business.
  • It’s terminating all employees not needed to shut the company down.
  • This also has it delisting shares of GNCA stock.

Source: arfa adam / Shutterstock.com

Genocea Biosciences (NASDAQ:GNCA) stock is on the move Wednesday after the bioscience company revealed its shutting down.

According to Genocea Biosciences, it will be winding down its business over the coming weeks as it prepares to close shop. This was a decision made by the company’s Board of Directors in a recent vote.

Advertisement

Genocea Biosciences notes that this has it terminating all of its remaining employees, except those needed to assist with the closing of the company. This comes three weeks after the company laid off roughly 65% of its employees.

In addition to this, Genocea Biosciences has announced that it will be voluntarily delisting shares of GNCA stock from the Nasdaq Capital Market. It intends to file a Form 25 with the U.S. Securities and Exchange Commission (SEC) to effect this delisting on June 2.

Advertisement
  • The 7 Highest-Yielding Dividend Stocks to Buy Now for Income

It’s worth noting that the decision to delist shares comes after a warning from the Nasdaq Listing Qualifications department. Two days ago, it warned the company that its stock price sitting below $1 per share for 30 consecutive business days was grounds for delisting.

Today’s news has GNCA stock seeing heavy trading with some 81 million shares on the move as of this writing. For comparison, the company’s daily average trading volume is closer to 3.5 million shares.

GNCA stock is up 15.9% as of Wednesday morning.

Advertisement

There’s more stock market news for investors to dive into below!

Advertisement

We’ve got all the hottest stock news taking place on Wednesday! A few examples include what’s going on with shares of Lyft (NASDAQ:LYFT), Express (NYSE:EXPR), and Nordstrom (NYSE:JWN) stock today. You can catch up on this news at the following links!

More Wednesday Stock Market News

  • LYFT Stock Hits New 52-Week Low as Lyft Looks to Cut Costs
  • Express (EXPR) Stock Pops 9% After Better-Than-Expected Q1 Earnings
  • JWN Stock Gains 7% as Nordstrom Shakes Off Inflation

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that  InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Advertisement

Read More: Penny Stocks — How to Profit Without Getting Scammed

More From InvestorPlace

  • Stock Prodigy Who Found NIO at $2… Says Buy THIS
  • It doesn’t matter if you have $500 in savings or $5 million. Do this now.
  • Get in Now on Tiny $3 ‘Forever Battery’ Stock

The post Genocea Biosciences Is Shutting Down. What GNCA Stock Investors Should Know. appeared first on InvestorPlace.

Advertisement

InvestorPlace| InvestorPlace

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *