Sign up USA
Proactive Investors - Run By Investors For Investors

GenVec plunges as Novartis pauses clinical trial enrollment for CGF166

Novartis notifies the clinical-stage company it will conduct a safety review of patient data.
GenVec plunges as Novartis pauses clinical trial enrollment for CGF166
GenVec addresses therapeutic areas, such as hearing loss.

GenVec (NASDAQ:GNVC) plunged in morning trades after the clinical-stage biopharmaceutical company unveiled a setback in the study of CGF166, the company’s drug designed to help patients with bilateral severe-to-profound hearing loss.

Shares fell 62% to $0.650 at 11:04 a.m. in New York.

Novartis notified the Gaithersburg, Maryland-based company that it was pausing enrollment in the clinical trial of CGF166 to conduct a safety review of patient data, based on the recommendation of the trial’s data safety monitoring board, GenVec said.

“The trial will continue to collect new safety and efficacy data on patients currently enrolled in the study,” GenVec said.

The stock has lost four-fifths of its value over the past 12 months.

Register here to be notified of future GNVC Company articles
View full GNVC profile View Profile

Genvec Timeline

September 25 2012

Related Articles

June 07 2017
Midatech has three lead R&D programmes: a carcinoid syndrome treatment; a liver cancer drug; and a brain cancer therapy
picture of drug lab
February 07 2017
Amryt Pharma’s strategy to acquire, in-license and then develop drugs for hard to treat, so-called orphan diseases has been seeing some good progress.
Copyright ©, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use