GAITHERSBURG, Md.--(BUSINESS WIRE)--Aug. 8, 2006--GenVec, Inc. (Nasdaq:GNVC - News), today announced its financial results for the second quarter ended June 30, 2006. GenVec reported a net loss of $4.1 million ($0.06 per share) for the quarter ended June 30, 2006 compared to a net loss of $3.0 million ($0.05 per share) in the comparable quarter of 2005. For the six months ended June 30, 2006, the Company reported a net loss of $8.2 million ($0.13 per share), as compared to a net loss of $6.4 million ($0.12 per share) for the comparable six-month period in 2005. The increase in the net loss was primarily due to higher internal costs associated with the late stage clinical development of GenVec’s lead product candidate, TNFerade, for the treatment of cancer. GenVec ended the second quarter of 2006 with $25.2 million in cash and investments.
