GNCA - Genocea stock crashes 64% on winding down of operations Nasdaq delisting

Genocea Biosciences (NASDAQ:GNCA) said its board voted to wind down the company's ongoing operations and terminate the remaining employees except those necessary to complete an orderly wind down. In April, Cambridge, Mass.-based company said it reducing its workforce by ~65% and exploring strategic alternatives. Genocea said that on May 23, it gave formal notice to Nasdaq of its intent to voluntarily delist its common stock. The company added that it plans to file a Form 25 with the Securities and Exchange Commission around June 2, to effect the voluntary delisting. Genocea noted that on May 23 it had received a letter from Nasdaq for not being in compliance with the exchange's minimum $1 closing bid price requirement for continued listing on the exchange. GNCA -64.13% to $0.08 premarket May 24

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Genocea stock crashes 64% on winding down of operations, Nasdaq delisting