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A biopharmaceutical company, which develops novel gene-based therapeutic drugs and vaccines.
What's been going through the minds of GenVec management this year? Are they trying to find excuses to keep the company running until they've paid themselves every last cent of remaining cash? Are they playing games with the share price to benefit insiders? Or are they simply incompetent, clueless and vacillating?In May, the company filed a form 8K indicating they would liquidate the company and return the remaining assets to shareholders. Considering there was 12M in cash at that time, that could have resulted in a substantial return to remaining shareholders. The share price had crashed in dramatic fashion well prior to that filing without any clear catalyst, indicating that selected parties had been made privy to insider information about the plan for liquidation.In June, GenVec filed another 8K stating that they would halt the plan for dissolution, having received several unspecified proposals for transactions which could result in additional cash returned to shareholders. The share price spiked back up. In August, GenVec issued another 8K stating that after considering the proposed transactions " the Board of Directors unanimously concluded that proceeding with seeking stockholder approval for the Plan of Dissolution, and receiving that approval, continued to be in the best interests of the Company and the Company's stockholders. The Board of Directors viewed the ability of the counterparties to complete the proposed transactions, in a timely manner, if at all, as extremely risky, the prospects for preserving value as very uncertain and the likelihood of receiving significant consideration in an asset sale as unlikely. Accordingly, if the Company were to continue to pursue one or more of these proposals, the Board of Directors was concerned that the Company's assets will continue to decline to a point where the Company can no longer meet its obligations with no guaranty that a transaction can be completed."That didn't sound very good at all. The share price dropped as low as 0.27. I do remember the stock being rather tempting at that point, but since I'd already been burned once I decided to just watch. Bad choice.In September, the company decided once and for all to withdraw the plan of dissolution and return to the pursuit of the collaboration with Novartis along with whatever other woolgathering they had only recently decided was completely hopeless. Instead of greeting the news with skepticism, the market embraced the plan sending the share price as high as 1.8, a 566% gain over recent lows. That also lifted the market cap to almost 24M, giving GenVec a sudden enterprise value of 15M instead of the negative enterprise value they had for more than a year. The recently-hired CEO was also unceremoniously booted out, to be replaced by the long-term CFO.Power struggle? Cash play? Stock manipulation? Who knows? I doubt there's anyone out there of sound mind who believes in GenVec from an operations point of view. At this point it's all speculation, and I don't think it will turn out very well for a lot of the people bidding up the share price. I've borrowed 10000 shares with a cost basis of 1.48, and if my thesis is correct I'll be buying them back close to zero.
I have been doin some research on GenVec and from what I am seeing, GV is headed in the right direction. With the new addition of Doctor Mahmoud and Doctor Connor to the board of directors, I am feeling really confident in the management of this company. Even though TNFerade (GenVecs Pancreatic Cancer fighting machine) ,wich was saposed to be released as GV's staple product, failed Phase III testing (Due to only an 8% gain in patients life expectancy), GV still has huge potential to release something big. Do your research on their current projects and you wont be let down!
This company is doing things very well, good balance sheets and very strong income and dividend too!!
GENVEC offers a Dynamic pipeline:Product Programs includeTNFerade™ for Pancreatic Cancer -late stage trialTNFerade™ for Head and Neck Cancer Vaccines HIV Vaccine Malaria Vaccine Foot and Mouth Disease Hearing & Balance Loss -Partnership w/NovartisDo your DD, Genvec may have the key to the first FDA approved Gene Therapy for Cancer in TNFERADE!!
Must have something...
I have had GNVC since it was sub 80 cents. The reports are coming out in the near future on whether TNFerade will be the break out drug against solid/non vascular cancers. I believe Pancreatic cancer was chosen for the platform arrangement because of how quickly it moves. The indications for Head and Neck cancer as well as possible skin cancers and other solid tumors will likely result in a partnership. The other pipeline therapies they have, for things like Malaria and hearing loss will also likely keep them going for a while. They may need to make another offering shortly, but not if a partnership is announced.
In recent clincal trials, Genvec's leading drug TNFerade (TM) has received very encouraging results for head,neck & esophageal cancers. For more information, please go to the companys web site: www.genvec.com The target price of $20.00 could be met from one month to within three years.
Got in with real money at 1.75 based on what they have in the pipeline.
They are in third phase trials for their main product which had promising results last year. This year they got the FDA to allow them to change the wording of the goal of the trials from 12month survival rate to overall survival rate, which is much more in line with their initial results (which showed a 10 month survival increase if I remember correctly). This should allow their trials to be successful and streamline FDA approval.They also inked a deal with a UK company to mass produce the Adenovector that is their main product. This shows me that they are expecting approval for the pancreatic treatment and are getting everything ready to roll out the product.This same treatment is also being tested for other types of cancers.They also have contracts with government and world organizations for vaccines for malaria and AIDS, plus are developing a treatment for hearing and balance loss.I think that if (and I suspect it will) their first product for pancreatic cancer is approved and starts to sell, then the other cancer treatments will not be far behind. I bought this in the $3 range (I have lost 50%), but it is a long hold. I expect to start seeing a turn around towards the end of summer 08, with a large increase in the 1st quarter 09 based on when I believe approval and manufacturing will begin.
Long term pick here, the ups and downs over the short term are going to be the results of day traders looking to make a few cents a share on hundreds of thousands of shares. These guys look very promising and am consifdering purchasing the stock with LTBH in mind.
Well because I'm getting it so much cheaper than everyone else. And they are increasing cash flow.
I like the price and the market that GNVC is after.
Today's news of the ASCO conference caused a 30% drop in the GNVC stock price. I believe that the company will figure out why the trials were unsuccessful. Like Edison and his filaments, the "light" will come on for GenVec.
this stock will continue to rise. It has contracts with the Navy and other services that will bring in revenue look for this stock to take off
Went up too fast. Wait a few months until it consolidates down in the $2 range.
The Vaccines they are developing with the navy ie malira and the HIV will push this company.
Good product & management.
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