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GenVec Reports Fourth Quarter and 2011 Year-End Financial Results
Date:3/15/2012

available at www.sec.gov.  These forward-looking statements speak only as of the date of this press release, and GenVec assumes no duty to update forward-looking statements.

(Tables to follow)GenVec, Inc.Condensed Statements of Operations(in thousands, except per share data)Quarter EndedYear Ended12/31/1112/31/1012/31/1112/31/10(unaudited)Revenues

$3,389$5,191$17,744$16,467Operating expenses:Research and development

3,8784,92017,41620,936General and administrative

2,0231,5267,8108,152Total operating expenses

5,9016,44625,22629,088Operating loss

(2,512)(1,255)(7,482)(12,621)Other income:Interest income, net

7740134Other income

12441213Total other income, net

825141347Net loss

$(2,504)$(1,004)$(7,441)$(12,274)Basic and diluted net loss per share

$(0.19)$(0.08)$(0.58)$(0.97)Shares used in computation of basicand diluted net loss per share

12,93412,90812,92112,671GenVec, Inc.Selected Balance Sheet Information(in thousands)As of December 31,20112010Cash, cash equivalents and short-term investments$26,446$35,170Working capital25,73931,689Total assets29,86639,432Stockholders' equity26,53832,420Retail Investor and Media Contact:Institutional Investor Contact:GenVec, Inc.

S.A. Noonan CommunicationsDouglas J. Swirsky

Susan A. Noonan(240) 632-5510

(212) 966-3650dswirsky@genvec.com

susan@sanoonan.com
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SOURCE GenVec, Inc.
Copyright©2010 PR Newswire.
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