GenVec, Inc. (GNVC) is a biopharmaceutical company that develops gene-based drugs and vaccines. Its lead product candidate is TNFerade, which is for the treatment of pancreatic cancer and is in Phase III trials.
GNVC saw heavy afterhours trading last night of over 4.5M shares. It closed at 79 cents/sh and finished the a/h session at 82 or 83 cents. I have no idea why interest surged in the stock so suddenly. The most plausible explanations I've seen so far are that a medical journal published something about the company's product, or that it is simply a pump-n-dump.
I purchased GNVC during yesterday's a/h session. This morning GNVC is at around 82 cents in premarket trading with volume of 400k shares with no news out.
GNVC Trading History:
September 10th, bought GNVC for 82 cents.
September 24th, sold GNVC in premarket for 91 cents (+11%).
Current Position: None.
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