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GenVec’s cattle vaccine gets conditional approval, shares up

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Thu Jun 7, 2012 11:28am EDT

(Reuters) – GenVec Inc said its foot and mouth disease (FMD) vaccine got a conditional approval from a U.S. regulator, sending its shares up 17 percent.

The vaccine is GenVec’s first approved product.

The company said the Animal and Plant Health Inspection Service (APHIS) under the U.S. Department of Agriculture (USDA)issued a conditional license to Antelope Valley Bios Inc, which manufactures the vaccine under a contract from GenVec.

Foot-and-mouth disease is a severe, highly contagious viral disease of cloven-hooved animals, although not usually fatal.

APHIS issues conditional licenses in the event of an emergency situation, limited market or other special circumstance. The vaccine, that can be manufactured in the United States, can be used by agriculture officials to meet any FMD emergency situation, the company added.

GenVec shares, which have risen 6 percent since the company reported quarterly results in early May, were up 11 percent at $2.62 in morning trade on Thursday on the Nasdaq.

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GenVec’s cattle vaccine gets conditional approval, shares up

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GenVec’s cattle vaccine gets conditional approval, shares up

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