Summers Street Negative on Genocea Biosciences (GNCA)

July 1, 2014 1:25 PM EDT
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Summers Street analyst Bart Classen made negative comment on Genocea Biosciences (NASDAQ: GNCA) in a research note Tuesday.

"We recently hosted a conference call to discuss Genocea Biosciences’ (GNCA) GEN-003, a therapeutic vaccine to treat herpes simplex virus 2 (HSV-2) infections. The vaccine completed a phase II clinical trial and as we expected the results are, in our opinion, were lackluster. There was absolutely no benefit on viral shedding, one year after the last dose, in any dosing group. Given the lack of effect in viral shedding we believe that the “exploratory” endpoint of reduction in genital lesions by 42% is all artifact and the result of data mining. The company admits they need to go back to the drawing board and perform a new Phase II dosing study. There is no reason to believe a new dosing study will lead to positive data," said Classen.

The stock is Not Rated by Summer Street.

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