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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Jibacoa who wrote (2181)	1/20/2010 1:56:19 PM
From: Jibacoa	Respond to of 3722

GNVC continues the recent UT that started on Dec29 from the $1 level.<g> The stock was up 14.94% at its 9:58AM intraday H of $2.23 and it is still up 10.82% on volume of > 4,541,200 already > 2x its ADV bigcharts.marketwatch.com It announced yesterday that it had entered into a research collaboration and license agreement with Novartis to develop treatments for hearing loss and balance disorders.<g> Previous results have indicated that delivery of the atonal gene using its adenovector technology may have potential in restoring hearing and balance function. Under terms of the agreement,GNVC will receive a $5M upfront payment and Novartis has purchased $2M of GNVC's stock. GNVC will also receive funding for a research program focused on developing additional adenovectors for hearing loss and could freceive up to $213.6M if certain milestones are met.<g> It should also receive royalties on sales. GNVC was able to trim some its losses in the last 2Q in spite of lower revenues.The loss for the current Yr. was estimated around $0.17 vs. $0.31 in 2008 With some good news the stock could get to the $4 level.<g> bigcharts.marketwatch.com Bernard