AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Biopharma company announces third quarter 2003 financial results.
2003 DEC 3 - (NewsRx.com & NewsRx.net) -- GenVec, Inc., (GNVC), a biopharmaceutical company, announced financial results for the third quarter ended September 30, 2003.
GenVec reported higher revenues and a lower net loss through the first 9 months of 2003 compared with the same 9-month period last year. For the 9 months ended September 30, 2003, the company reported a net loss of $16.0 million or $0.60 per share on revenues of $8.1 million compared to a net loss of $20.2 million or $0.93 per share on revenues of $4.9 million for the comparable 9-month period in 2002. GenVec reported a net loss of $4.9 million or $0.14 per share in the current quarter ended September 30, 2003, compared to a net loss of $6.9 million or $0.32 per share in the comparable quarter of last year. GenVec ended the third quarter of 2003 with $44.3 million in cash and investments.
Revenues for the current quarter and first 9 months of 2003 were primarily attributable to the following activities:
1) Vaccine development activities under the company's collaborations with the National Institutes of Health and the U.S. Naval Medical Research Center
2) Expanded collaboration with Fuso Pharmaceutical Industries, Ltd., of Japan for the development of second-generation tumor necrosis factor product candidates that target tumors when given systemically or regionally.
Operating expenses for the quarter ended September 30, 2003 decreased 25% to $7.4 million from $9.9 million in the third quarter of 2002 as a result of the company's reduction in workforce announced in April 2003. The company expects to maintain its use of cash at approximately $4 million for the fourth quarter of 2003.
Jeffrey W. Church, GenVec's CFO, commented on GenVec's business and third-quarter financial results, "A key event in the third quarter was our merger with Diacrin, Inc., in August 2003, which ...
- GenVec Reports Third Quarter 2005 Financial Results; Vaccine Funding Increases...
- Press release article from: Business Wire November 2, 2005 700+ words
...GAITHERSBURG, Md. -- GenVec, Inc. (Nasdaq:GNVC...September 30, 2005. GenVec reported a net loss of $3.3 million...as compared to a net loss of $15.2 million...Initiative, all of which use GenVec's proprietary technology...
- GenVec Inc. reports net loss for 2002 of $25.6M.
- Newspaper article from: Daily Record (Baltimore, MD) March 12, 2003 700+ words
Byline: Staff and Wire Reports GenVec Inc., a Gaithersburg-based gene...gene-based medicines, reported a net loss for 2002 of $25.6 million, or $1.17 per diluted share, compared to a net loss of $19.1 million, or $1.05...
- GenVec Inc. reports third-quarter net loss of $4.9M.
- Newspaper article from: Daily Record (Baltimore, MD) November 5, 2003 700+ words
...and Wire Reports Gaithersburg-based GenVec Inc., a biotechnology company that develops...medicines, reported a third-quarter net loss of $4.9 million, or 14 cents per diluted...revenue of $2.4 million, compared to a net loss of $6.9 million, or 32 cents per diluted...
- GenVec Inc. reports second-quarter net loss of $6.9M.
- Newspaper article from: Daily Record (Baltimore, MD) August 2, 2002 700+ words
...and Wire Reports Gaithersburg-based GenVec Inc., a biopharmaceutical company developing...medicines, reported a second-quarter net loss of $6.9 million, or 32 cents per diluted...revenue of $1.6 million, compared to a net loss of $3.8 million, or 21 cents per share...
- GenVec Inc. of Gaithersburg reports second-quarter net loss of $3M.
- Newspaper article from: Daily Record (Baltimore, MD) August 4, 2005 700+ words
Byline: Staff and Wire Reports GenVec Inc., of Gaithersburg, a biopharmaceutical...diseases, reported a second-quarter net loss of $3 million, or 5 cents per diluted...revenue of $7.3 million, versus a net loss of $4.8 million, or 9 cents per diluted...
- Gaithersburg-based GenVec cuts net loss for the year.
- Newspaper article from: Daily Record (Baltimore, MD) March 11, 2004 700+ words
Byline: Staff and Wire Reports GenVec Inc., of Gaithersburg, a biotechnology...develops gene-based medicines, reported a net loss for the year ended Dec. 31 of $21...revenue of $10.5 million, versus a net loss of $25.6 million, or $1.17 per...
- MD-based GenVec Inc. reports net loss of $3.5M.
- Newspaper article from: Daily Record (Baltimore, MD) April 28, 2005 700+ words
Byline: Staff and Wire Reports GenVec Inc., of Gaithersburg, a biopharmaceutical...diseases, reported a first-quarter net loss of $3.5 million, or 6 cents per diluted...revenue of $4.5 million, versus a net loss of $5.6 million, or 11 cents per diluted...
- MD-based GenVec Inc. reports net loss of $3.7M.
- Newspaper article from: Daily Record (Baltimore, MD) March 10, 2005 700+ words
Byline: Staff and Wire Reports GenVec Inc., of Gaithersburg, a biopharmaceutical...diseases, reported a fourth-quarter net loss of $3.7 million, or 7 cents per diluted...on revenue of $3 million, versus a net loss of $5.2 million, or 10 cents per diluted...
- Gaithersburg-based GenVec's net loss widens.(Financial report)
- Newspaper article from: Daily Record (Baltimore, MD) May 10, 2007 700+ words
...its pancreatic cancer treatment candidate widened GenVec Inc.'s net loss for the first quarter to $6 million, or 8 cents...4.1 million, or 6 cents per diluted share, net loss for the similar period last year. Also contributing...
- Gaithersburg-based GenVec reports third-quarter net loss.
- Newspaper article from: Daily Record (Baltimore, MD) October 26, 2001 700+ words
Byline: Staff and Wire Reports GenVec Inc., a Gaithersburg-based company...products, reported a third-quarter net loss of $5.7 million, or 31 cents...on 18,070 shares, compared to a net loss of $2.5 million, or $1.27...
Source: HighBeam Research, Biopharma company announces third quarter 2003 financial results.