GenVec's 2009 revenues down 8%: MicroStockProfit.com

Apr 23 2010

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/ads/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:

"Revenues for 2009 were $13.9 million, down 8% from $15.1 million in 2008 primarily due to decreased revenue associated with the Company's agreement with the Department of Homeland Security (DHS) of $3.2 million. The lower revenue under the DHS agreement is a result of decreased work scope and effort in 2009 as compared to the 2008 period.

"GNVC recently announced that encouraging clinical and preclinical malaria vaccine data were presented at the Keystone Symposium - Malaria: New Approaches to Understanding Host-Parasite Interactions, which took place on April 11–16, 2010, in Copper Mountain, Colorado. Safety, tolerability, immunogenicity, and efficacy data from the phase 1/2a malaria trial using GNVC technology were presented."