GenVec Rises on FDA Move

GenVec's(GNVC Quote) shares rose 6.3% after the FDA approved a new method of treating patients in a pancreatic cancer trial.

The stock gained 15 cents to $2.55 early Thursday.

In addition to giving TNFerade to patients by injection, researchers can now administer the drug using a procedure known as endoscopic ultrasound administration, or EUS. The trial involves patients with advanced pancreatic cancer limited to the area surrounding the pancreas.

"We are pleased to have received clearance from FDA for EUS administration of TNFerade," said Dr. Mark Thornton, GenVec's senior vice-president of product development. "The addition of EUS may positively impact the recruitment of new centers and patients, and we look forward to enrolling the first EUS patient in this clinical trial."