The US Bankruptcy Court approved the liquidating plan of reorganization of Genocea Biosciences, Inc. on May 11, 2023. The debtor has filed its plan in the Court on February 9, 2023. As per the plan, administrative expense claims of $0.61 million, U.S. trustee’s fees, professional compensation and expense reimbursement claims, priority tax claims and priority claims shall be paid in full in cash.

Nonpriority unsecured claims of $13 million shall receive from the liquidating trustee on the plan distribution date its pro rata share of its beneficial interest in the liquidating trust. Equity interest shall be cancelled without distribution. The plan shall be funded from available cash of $1.80 million and sale of assets.