Genitope Corporation (Nasdaq: GTOP) today announced that the underwriter of its follow-on public offering of 5,500,000 shares has exercised its over-allotment option as to 510,279 additional shares of common stock. Including the over-allotment shares purchased yesterday, the offering totaled 6,010,279 shares of common stock at the public offering price of $3.85 per share, resulting in net proceeds to Genitope Corporation of approximately $21.6 million. All of the shares in the offering were offered and sold by Genitope Corporation under its effective shelf registration statement.

Punk, Ziegel & Company acted as underwriter in the offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of shares of common stock may be made only by means of a prospectus supplement and accompanying prospectus.

Copies of the final prospectus supplement and the accompanying prospectus can be obtained by contacting: Punk, Ziegel & Company, L.P. at 520 Madison Avenue, 4th Floor, New York, NY 10022, or by telephone at 212-308-9494, or by faxing a request to 212-308-1466.

About Genitope Corporation

Genitope Corporation (Fremont, Calif.) is a biotechnology company focused on the research and development of novel immunotherapies for the treatment of cancer. Genitope Corporation's lead product candidate, MyVax(R) personalized immunotherapy, is a patient-specific active immunotherapy based on the unique genetic makeup of a patient's tumor and is designed to activate the patient's immune system to identify and attack cancer cells.