Several of our Boutique Biotech readers have commented about their interest in small cap biotechs coverage. Genocea Biosciences ($GNCA) fits the bill perfectly, currently trading in approximately the mid-$2 range. The ASCO 2021 meeting is coming up in just two days (June 4-8), where GNCA will discuss long term results from a phase 1 trial of GEN-009, a personalized neoantigen vaccine, combined with PD-1 inhibition in advanced solid tumors.
Boutique Biotech is long GNCA and our thesis is betting on GEN-011, Genocea’s T-cell therapy that acts as a more targeted TIL. This data will be available late Q4 2021 – early Q1 2022.
GEN-009 is the company’s neoantigen cancer vaccine. Genocea released Phase 1 data last year that was hard to interpret because many of the patients were seeing responses from the PD-1 treatment before being given GEN-009. This made it difficult to separate how much impact GEN-009 added. As seen below, response curves were downward sloping before GEN-009 was given (gray shade).
In the long-term data that will be shared at ASCO, GEN-009 has to show no SAEs and deepening/durable response curves over the long run. This would indicate that GEN-009 adds durability as a PD-1 combo. In the short-term, given the runup to the ASCO conference, $GNCA is showing fairly overbought on the RSI indicator, with a bullish cross on the MACD indicator that formed earlier today: (15-minute chart below from June 2nd, 2021)
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