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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (18182)

5/2/2016 9:14:28 AM

From: Pogeu Mahone

Read Replies (1) | Respond to of 33421

GNVC

GenVec Provides Update on Hearing Loss Clinical Program
Date :	05/02/2016 @ 7:00AM
Source :	PR Newswire (US)
Stock :	Genvec, Inc. (MM) (GNVC)
Quote :	0.78 0.0 (0.00%) @ 8:06AM

GenVec Provides Update on Hearing Loss Clinical Program

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Genvec, Inc. (MM) (NASDAQ:GNVC)
Intraday Stock ChartToday : Monday 2 May 2016

GAITHERSBURG, Md., May 2, 2016 /PRNewswire/ -- GenVec, Inc. (NASDAQ: GNVC), a clinical-stage gene delivery company, announced today that it was notified by its collaborator Novartis that the Data Safety Monitoring Board (DSMB) for the Phase 1/2 clinical trial of CGF166 in patients with severe to profound hearingloss has recommended that the trial continue, subject to approval by the U.S. Food and Drug Administration (FDA). This recommendation was based on a review of safety and efficacy data from the nine patients currently enrolled in the study. Novartis is developing CGF166, GenVec's lead product candidate for hearing loss, under a Research Collaboration and License Agreement with GenVec. As previously disclosed, on January 8, 2016, GenVec was notified by Novartis that enrollment was paused in the clinical study for CGF166 in accordance with criteria in the trial protocol.

"With the recommendation by the DSMB to continue the trial, CGF166 has passed an important hurdle and we look forward to Novartis taking the necessary steps to enable patient recruitment to resume," said Douglas J. Swirsky, president and CEO of GenVec. "We believe that enrollment will start again in the coming months and that the trial will be completed sometime in 2017, as previously expected."

About GenVec