DALLAS, Aug. 13, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring GenVec Inc. (Nasdaq:GNVC). The report includes financial, comparative and investment analyses, and industry information 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:
"GNVC reported a net loss of $4.2 million ($0.03 per share) for the three months ended June 30, 2010, compared to a net loss of $4.8 million ($0.05 per share) in the comparable quarter of 2009. For the six months ended June 30, 2010, GNVC's net loss was $8.9 million ($0.07 per share) compared to a net loss of $10.5 million ($0.12 per share) for the six months ended June 30, 2009.
"GNVC recently announced a new agreement for the supply of services relating to development materials with Novartis, related to the companies' collaboration in hearing loss and balance disorders. Under this new agreement, GNVC could receive approximately $13 million over four years to manufacture clinical trial material for up to two lead candidates."
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