GenVec, Novartis ink clinical trials supply deal

GenVec could receive approximately $13 million over four years after inking an agreement with Novartis through which it will manufacture clinical trial material for up to two lead candidates. The two companies are partnered on clinical programs for hearing loss and balance disorders. GenVec...

Struggling GenVec on the auction block as it ponders options

With its stock price in the toilet following a March meltdown triggered by the late-stage failure of its lead therapy, GenVec is bringing in the experts to review its options--including a sale of all or part of the company. In a release out this morning the Gaithersburg, MD-based GenVec (GNVC) said that Wells Fargo Securities will "conduct a comprehensive review of strategic alternatives aimed at enhancing shareholder value." The review will explore the possible sale of company assets,...

GenVec gets another NASDAQ warning

Gaithersburg, MD-based GenVec (NASDAQ: GNVC) has been informed that its stock price no longer meets NASDAQ requirements and could be delisted. The Washington Business Journal reports that GenVec stock, trading around 62 cents per share, has been below the minimum requirement of $1 per share for more than 30 consecutive business days. A notification letter from the NASDAQ exchange says GenVec has until Nov. 8 to regain compliance with the minimum closing bid price requirement. To...