January 8, 2010 (FinancialWire) — GenVec, Inc. (NASDAQ: GNVC) said it has received a letter from the NASDAQ Stock Market advising that it had regained compliance with the NASDAQ’s minimum bid price listing requirements.

GenVec had received a notice of deficiency on September 15, 2009 stating that the company was not in compliance with NASDAQ Marketplace Rule 5450 because the bid price of the company’s common stock had closed below the required minimum $1 per share for the previous 30 consecutive business days.

The company said it was notified that it could regain compliance if within 180 days the bid price of the company’s common stock closed at $1 per share or more for a period of at least 10 consecutive trading days.

GenVec is a biopharmaceutical company developing novel therapeutic drugs and vaccines. GenVec’s lead product, TNFerade, is currently in a clinical study in locally advanced pancreatic cancer.

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