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GenVec Reports Third Quarter 2009 Financial Results
Date:11/5/2009

rd parties; dependence on intellectual property; and risks that we may lack the financial resources and access to capital to fund our operations. Further information on the factors and risks that could affect GenVec's business, financial conditions and results of operations, are contained in GenVec's filings with the U.S. Securities and Exchange Commission (SEC), which are 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)
                                       (Unaudited)

                                  Three Months Ended      Nine Months Ended
                                     September 30,          September 30,
                                   -----------------      ------------------
                                    2009       2008        2009        2008

    Revenue                        $2,926     $4,205     $10,502     $11,797
    Operating expenses:
      Research and development      4,774      9,545      19,159      25,594
      General and administrative    1,719      1,701       5,102       6,430
        Total operating expenses    6,493     11,246      24,261      32,024
                                    -----     ------      ------      ------
    Loss from operations           (3,567)    (7,041)    (13,759)    (20,227)
      Interest income                   2        183          37         600
      Interest expense, net             3         56         (62)          8
      Other                             -        (37)       (268)        (30)
    Net loss                            -       ----       -----        ----
        
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SOURCE  GenVec, Inc.
Copyright©2009 PR Newswire.
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