Published in Vaccine Weekly, May 26th, 2004
GenVec reported a net loss of $5.6 million compared to a net loss of $5.2 million in the comparable quarter of 2003.
The per share net loss of $0.11 decreased from $0.23 in the comparable quarter in 2003 and was primarily due to the issuance of new shares paid in consideration of the acquisition of Diacrin, Inc., in August 2003. GenVec ended the first quarter of 2004 with $33.7 million in cash and investments. As previously announced, GenVec raised an additional $12.6 million on April 16, 2004, through an offering of 4 million shares of common stock. Net...
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