Tue, Aug. 12, 11:11 AM| Comment!
Tue, Aug. 12, 7:34 AM
Mon, May. 12, 8:42 AM
Fri, Mar. 28, 7:44 AM
Fri, Jan. 17, 12:48 PM
Dec. 12, 2013, 12:52 PM
Dec. 12, 2013, 9:11 AM
Dec. 11, 2013, 5:38 PM
- GenVec (GNVC) shares spike 23.6% AH after the company discloses the National Institutes of Health's Recombinant DNA Advisory Committee unanimously approved the initiation of a Phase I study of CGF166, an adenoviral vector engineered to express the atonal gene in patients with severe hearing loss. (8-K)
- CGF166 uses GenVec's adenovectors tech and is being developed by the Novartis Institute for Biomedical Institute under a research collaboration and license agreement with GenVec.
- An investigational new drug application is expected to be filed in Jan.
Nov. 20, 2013, 12:45 PM
Nov. 12, 2013, 7:51 AM
Oct. 2, 2013, 12:47 PM
Sep. 25, 2013, 12:46 PM| Comment!
Sep. 24, 2013, 12:45 PM
Sep. 4, 2013, 8:45 AM
- GenVec (GNVC) decides to withdraw its plan of dissolution (previous) and move forward with a focus on "maximizing the value of its technology and assets, including its collaboration with Novartis to develop novel treatments for hearing loss."
- CEO Cynthia Collins leaves the company and resigns from the board — she will be replaced by CFO Douglas Swirsky.
- Regarding the apparent about-face, Swirsky says "potentially viable proposals to maximize the value of [the company's] assets were ultimately not appropriate for any number of reasons [and given] our increased confidence that milestones in our collaborations can be realized and our ability to bring our expenditures in line with our resources ... we ... believe that shareholders are best served by preserving the Company's hearing loss program and remaining assets."
- Swirsky also says the company has cash and equivalents sufficient to fund operations through 2014. (PR)
Aug. 9, 2013, 3:42 PM
- GenVec (GNVC -20%) tanks after disclosing that it's unanimously agreed that dissolving the firm was in its best interests, concluding any of the other proposed transactions were at best, "extremely risky."
- The resolution still requires shareholder approval before being forwarded to the Delaware Secretary of State.
- The company estimates it will incur about $311,785 in costs as a result of employee layoffs.
Jul. 1, 2013, 3:55 PMGenVec (GNVC +2.8%) says it's terminating the employment of 30 of its remaining 41 employees. The termination is expected to be completed effective June 30, 2013. It estimates that about $311,785 of expenses will be incurred in Q2 due to the position eliminations. The move comes as no surprise, considering that its board announced late last month that it had approved the liquidation and dissolution of the company. | Comment!
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