GAITHERSBURG, Md.--(BUSINESS WIRE)--GenVec, Inc. (Nasdaq: GNVC) today announced its financial results for the first quarter ended March 31, 2007. GenVec reported a net loss of $6.0 million ($0.08 per share) compared to a net loss of $4.1 million ($0.06 per share) in the comparable quarter of 2006. The increase in the net loss was primarily due to increased internal costs associated with the late-stage clinical development of GenVec’s lead product candidate, TNFerade™, for the treatment of locally advanced pancreatic cancer, and lower revenues associated with the development of HIV vaccine supplies. GenVec ended the first quarter of 2007 with $31.1 million in cash and investments.
