Shares of GenVec Inc. dropped by more than seventy percent on Tuesday after the company announced that it was discontinuing a study of TNFerade as a treatment for pancreatic cancer.
GNVC stock price closed down $2.01 (71.53%) to 80 cents a share in trading on the NASDAQ.
GNVC hit a 52 week low of 40 cents on March 30, 2009 and a 52 week high of $3.35 on March 10, 2010.
GenVec plans to continue analyzing data from the study to determine any futures applications for TNFerade.
