DALLAS, June 23, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring biopharmaceutical company GenVec Inc. (Nasdaq:GNVC). The report includes financial, comparative and investment analyses, industry information and recent company news you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/lp/GNVC
GenVec Inc. (GNVC) is a clinical stage biopharmaceutical company developing gene-based therapeutic drugs and vaccines. Its lead product candidate, TNFerade biologic (TNFerade), is being developed for use in the treatment of cancer. Using GNVC's core adenovector technology, TNFerade stimulates the production of tumor necrosis factor alpha (TNFa), a known anti-tumor protein, in cells of the tumor. In addition to its therapeutic product development programs, GNVC is working with collaborators to develop new applications for its technology through its vaccine development programs. The Company is developing a vaccine in animal health against foot-and-mouth disease and preventative vaccines for malaria, human immunodeficiency virus (HIV), respiratory syncytial virus and Herpes Simplex Virus Type 2 (HSV-2).
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In the report, the analyst notes:
"Revenue for the first quarter decreased 23% to $2.9 million from $3.8 million in the same period last year. The decrease for the three-month period ended March 31, 2010, is primarily due to decreased revenue associated with GNVC's agreement with the Department of Homeland Security (DHS) for the foot-and-mouth disease (FMD) program of $1.2 million.
"GNVC recently announced that it has engaged Wells Fargo Securities, LLC to conduct a comprehensive review of strategic alternatives aimed at enhancing shareholder value. Strategic alternatives the Company may pursue could include, but are not limited to, execution of the Company's operating plan, sale of Company assets, partnering or other collaboration agreements, or a merger, sale of the Company or other strategic transaction."
To read the entire report visit: www.microstockprofit.com/lp/GNVC
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