GAITHERSBURG, Md., May 5, 2011 /PRNewswire/ -- GenVec, Inc. (NASDAQ:GNVCD) today announced that on May 4, 2011, the Company received a letter from The NASDAQ Stock Market ("NASDAQ") advising that it had regained compliance with NASDAQ's minimum bid price listing requirements.
GenVec had received a notice of deficiency on May 12, 2010 stating that the Company was not in compliance with NASDAQ Marketplace Rules because the bid price of the Company's common stock had closed below the required minimum $1.00 per share for the previous 30 consecutive business days.
The letter received from NASDAQ on May 4, 2011 stated that GenVec's common stock had closed above the $1.00 minimum bid price for 10 consecutive business days and the Company had regained compliance with the minimum bid price listing requirement. NASDAQ advised that the matter is now closed.
About GenVecGenVec is a biopharmaceutical company using differentiated, proprietary technologies to create superior therapeutics and vaccines. A key component of our strategy is to develop and commercialize our product candidates through collaborations. GenVec is working with leading companies and organizations such as Novartis, Merial, and the U.S. Government to support a portfolio of product programs that address the prevention and treatment of a number of significant human and animal health concerns. GenVec's development programs address therapeutic areas such as hearing loss, balance disorders, and cancer; as well as vaccines against infectious diseases including respiratory syncytial virus (RSV), herpes simplex virus type 2 (HSV-2), dengue fever, influenza, malaria, and human immunodeficiency virus (HIV). In the area of animal health we are developing vaccines against foot-and-mouth disease (FMD). Additional information about GenVec is available at www.genvec.com and in the Company's various filings with the Securities and Exchange Commission. Investor and Media Contact:GenVec, Inc. Douglas J. Swirsky(240) 632-5510 email@example.com SOURCE GenVec, Inc.