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Genitope Corporation (fka GTOPQ)

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Genitope Corporation

Development Suspended 9-16-2008:

     This Current Report on Form 8-K is being filed by Genitope Corporation (the “ Company ”) to provide an update with respect to the Company’s financial position and current activities. The Company has suspended active development of its MyVax ® personalized immunotherapy and monoclonal antibody programs. The Company estimates that, as of August 31, 2008, net of the approximately $630,000 of accounts payable described below, it had cash and cash equivalents of approximately $1.0 million and marketable securities with an estimated fair market value of approximately $476,000. The Company has sold or otherwise disposed of its equipment and vacated one of the two buildings in Fremont, California that formerly served as its principal offices. The Company intends to vacate the second building in the very near future. The Company currently has one employee, Dr. Dan Denney, Jr., its Chief Executive Officer.
     As of August 31, 2008, the Company had (i) approximately $1.6 million in cash and cash equivalents and (ii) marketable securities with a par value of approximately $711,000 and an estimated current fair market value of approximately $476,000. The Company believes that it had satisfied all of its liabilities as of August 31, 2008, other than accounts payable of approximately $630,000, which the Company intends to satisfy, and obligations under (i) two May 2005 lease agreements to lease an aggregate of approximately 220,000 square feet of space located in two buildings in Fremont, California (the “ Real Estate Leases ”), (ii) a capital lease (the “ GECC Lease ”) with General Electric Capital Corporation (“ GECC ”) and (iii) an equipment lease with Cisco Systems Capital Corporation. There are currently over 12 years remaining under the Real Estate Leases, with a total remaining rental obligation of $97.9 million as of August 31, 2008. The Company’s unsatisfied obligations to GECC and Cisco, after giving effect to the sale of available equipment securing the GECC Lease and the payment of the proceeds therefrom to GECC, are approximately $2.7 million in the aggregate. The Company is unable to satisfy its obligations under these agreements. The Company does not believe that there is remaining equipment securing the GECC Lease that is available for sale to offset its remaining obligation to GECC.
     The Company is continuing to evaluate the data from its pivotal Phase 3 clinical trial of MyVax ® personalized immunotherapy in previously untreated follicular B-cell non-Hodgkin’s lymphoma patients and related data, with the goal of obtaining value for MyVax ® personalized immunotherapy, but the outcome of this evaluation and the Company’s ability to obtain value remains highly uncertain.
     In April 2008, the Company had retained Piper Jaffray & Co. (“ Piper Jaffray ”) to act as its financial advisor to provide financing and strategic advisory services to the Company. In connection with this engagement, representatives of Piper Jaffray contacted a wide range of third parties seeking a possible investment in the Company or with respect to the Company’s assets, or a partnership, licensing or acquisition transaction with the Company. To date, no third party has proposed terms for such a transaction. Accordingly, irrespective of the outcome of the Company’s continuing evaluation with respect to its MyVax ® personalized immunotherapy program, the Company anticipates that it will seek protection under the federal bankruptcy laws or liquidate its assets and dissolve the corporation, which the Company anticipates will result in the stockholders of the Company receiving no consideration or continuing interest in the MyVax ® personalized immunotherapy or monoclonal antibody programs or other assets of the Company as stockholders.




Historical News Releases

Tue, Jun 10, 2008
gets delist warning over share value
 (Tue, Jun 10)
warns Genitope over stock value
 (Tue, Jun 10)
GENITOPE CORP Files SEC form 8-K, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Tra
EDGAR Online
 (Tue, Jun 10)
Genitope Corporation Announces Receipt of Nasdaq Letter
Business Wire
 (Tue, Jun 10)
Sat, May 31, 2008
EDGAR Online Financials
 (Sat, May 31)
Wed, May 28, 2008
GENITOPE CORP Files SEC form 8-K, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Tra
EDGAR Online
 (Wed, May 28)
landlord cancels option, company may seek bankruptcy protection
 (Wed, May 28)
Genitope Corporation Announces Receipt of Nasdaq Determination
Business Wire
 (Wed, May 28)
GENITOPE CORP Files SEC form 10-Q, Quarterly Report
EDGAR Online
 (Wed, May 28)
Tue, May 27, 2008
Clears Space For Competition
 (Tue, May 27)
Ends Trials With Nothing Left
 (Tue, May 27)
Fri, May 23, 2008
GENITOPE CORP Files SEC form 8-K, Material Impairments
EDGAR Online
 (Fri, May 23)
Fri, May 2, 2008
GENITOPE CORP Files SEC form 8-K, Change in Directors or Principal Officers
EDGAR Online
 (Fri, May 2)
Fri, Apr 18, 2008
GENITOPE CORP Files SEC form 8-K, Triggering Events That Accelerate or Increase a Direct Financial Obligation or an O
EDGAR Online
 (Fri, Apr 18)
Wed, Apr 2, 2008
GENITOPE CORP Files SEC form 8-K, Costs Associated with Exit or Disposal Activities
EDGAR Online
 (Wed, Apr 2)
Mon, Mar 31, 2008
GENITOPE CORP Files SEC form 10-K, Annual Report
EDGAR Online
 (Mon, Mar 31)
Fri, Mar 14, 2008
GENITOPE CORP Files SEC form 8-K, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Tra
EDGAR Online
 (Fri, Mar 14)
Wed, Mar 12, 2008
GENITOPE CORP Files SEC form 8-K, Other Events
EDGAR Online
 (Wed, Mar 12)
Sat, Feb 23, 2008
adjuvant. The tumor-derived protein that is unique to each patient is the antibody expressed by the tumor cells. Each antibody has unique portions, collectively known as the idiotype, which can be recognized by the immune system. The antibody that is unique to a given patient's tumor is often referred to as the idiotype protein. Genitope's immunotherapy consists of the idiotype protein and a foreign carrier protein administered with an adjuvant to enhance the immune response.

Immunologic carrier proteins are themselves strong antigens and are used to increase the immunogenicity of the patient-specific idiotype. Adjuvants are molecules that attract and activate immune system cells at the site of immunization, which enhances the immune response. Currently, Genitope uses keyhole limpet hemocyanin, or (KLH), as a carrier protein for the idiotype protein and granulocyte macrophage-colony stimulating factor, or GM-CSF, as an adjuvant.

Active immunotherapies, similar to MyVax® Personalized Immunotherapy, for the treatment of NHL have been studied in clinical trials since the late 1980's. Results from these trials suggest that active immunotherapy may induce long-term remission and may improve survival of NHL patients. Despite these results, further development of this immunotherapeutic approach has been limited by manufacturing difficulties. We have developed a proprietary manufacturing process that overcomes many of these historical manufacturing limitations. MyVax® Personalized Immunotherapy is currently in a pivotal Phase 3 trial and additional Phase 2 trials for the treatment of B-cell non-Hodgkin's lymphoma and B-cell chronic lymphocytic leukemia.


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#91   GTOPQ CUSIP suspended. FINRA deleted symbol: Renee 09/15/16 04:33:11 PM
#90   GTOP changed to GTOPQ: bankruptcy: Renee 01/05/15 04:17:12 PM
#89   GTOP used to be a high dollar Nasdaq Zardiw 03/20/14 08:24:00 AM
#88   GTOP Chart: Zardiw 03/20/14 08:22:38 AM
#87   There were like 10 trades that day.......I can Zardiw 09/29/13 08:12:35 PM
#86   ...sure it is. mark5050 09/27/13 03:33:30 PM
#85   They need to do a 15-12G....that will make Zardiw 09/27/13 10:06:41 AM
#84   You know they used to be z Zardiw 09/27/13 10:05:02 AM
#83   GTOP is smells like a winner kranthikumar 09/27/13 10:03:54 AM
#82   OS only 43M....pretty undervalued at this z Zardiw 09/27/13 09:54:55 AM
#81   This is the kind of public company that Zardiw 09/27/13 09:52:00 AM
#80   GTOP is a medical company that has mostly Zardiw 09/27/13 09:51:13 AM
#79   GTOP is a really nice shell....could be setting Zardiw 09/27/13 09:49:46 AM
#78's alive ! ....hmm is it ? mark5050 08/08/13 11:04:01 PM
#77   Yes. Thank you for asking! elleryqueen 10/10/12 12:25:16 PM
#76   Were you able to finally sell your shares? bell345 10/09/12 08:14:11 AM
#75   it hit 0.01 today with 372000 shares traded nycusa12 07/02/12 03:03:31 PM
#74   Thank you. LOL. RIP. elleryqueen 10/02/11 01:01:32 AM
#73   It's in the pink sheets graveyard. RIP. bell345 09/29/11 08:59:26 AM
#72   I have been trying to sell mine for elleryqueen 04/01/11 12:07:24 PM
#71   I added this morning 15.000 shares and it i12connect 04/01/11 12:00:34 PM
#70   I must confess I do not understand the elleryqueen 03/09/11 05:26:23 PM
#69   This stock is going to become at least meat steak 03/01/11 03:48:58 PM
#68   This is a dead shell now. bell345 01/18/10 09:34:31 AM
#66   this stock is going to skyrocket... martinwin 07/30/09 07:27:29 PM
#64   yes, I totaly agree with you!! martinwin 07/30/09 07:07:07 PM
#62   Pure speculation trading. I hope GTOP can get bell345 06/20/09 12:12:00 PM
#61   Ionized- Yup! Sure took a nice pop up monday. Bigstud is here 06/12/09 11:29:23 PM
#60   And again today? 450% wow Ionized 06/08/09 06:18:48 PM
#59   why is this up today? lifegear 01/29/09 04:42:27 PM
#58   Moving here...up 189% JimmyTL 09/22/08 12:18:21 PM
#57   You're right on! People see the trend, it's GRIN 09/04/08 03:16:07 PM
#56   Flippers SOL. theycan't budge bid BlackSwanster 09/04/08 02:44:04 PM
#54   Hey guys.... Sold off today. I didn't like utmostbastard 08/12/08 01:11:30 PM
#53   not enough volume to get anywhere today! EDWARD STEVENSON 08/05/08 06:58:39 PM
#52   GTOP starting work from the early morning EDWARD STEVENSON 08/05/08 11:51:04 AM
#51   GTOP looking for another strong day of trading EDWARD STEVENSON 08/05/08 01:01:56 AM
#50   GTOP UP 25% TODAY........... JAKE17 08/01/08 03:49:29 PM
#49   color=green nice gain for GTOP today + EDWARD STEVENSON 08/01/08 01:22:39 PM
#48   that 100K+ block at .13 is about chewed utmostbastard 08/01/08 10:51:51 AM
#47   Yeah buddy! This is being systematically purchased (literally) utmostbastard 07/31/08 05:54:11 PM
#46   hey remind me what happened at the end EDWARD STEVENSON 07/31/08 04:11:19 PM
#45   .13's getting violated into the close. Chart still utmostbastard 07/31/08 03:59:41 PM
#44   Yeah it is looking strong for sure. I utmostbastard 07/31/08 09:08:42 AM
#43   GTOP active and on fire if i may EDWARD STEVENSON 07/30/08 03:07:32 PM
#42   Not sure... Could be inside info, fund buying, utmostbastard 07/23/08 09:22:31 AM
#41   I'm a little lost, why has this stock EDWARD STEVENSON 07/22/08 06:45:57 PM
#40   Good move... been buying this thing up for utmostbastard 07/22/08 01:00:59 PM
#39   Called GTOP at .069 on my Board: GoldenZ 07/22/08 12:06:49 PM