GenVec Inc (fka GNVC)

[skitahoe]

That is correct if Novartis filed on schedule, and if the FDA did nothing after they filed, i.e. presumed approval. If however they didn't file on schedule, or if the FDA asked questions or for clarification, no notice will be given. 30 days after the last response by Novartis to the FDA would be when the presumed approval would occur.

While I believe in Novartis's ability to do things properly and on time, when dealing with the FDA, nothing is certain. When GNVC announces the receipt of a Milestone Payment, we'll have some idea of when the event occurred. Often partnerships have things like ten day delays after an event occurs before you're paid. To put it simply, they like to keep investors guessing.

Small biotechs sometimes hype every action they take. Giant Pharma's like Novartis remain as secretive as they can be. Clearly the fact that GNVC considered dissolving is a strong indication of just how little communication the two companies had while Novartis was testing GNVC's drug. The fact that they're putting it in the clinic is a strong endorsement that they believe it works.

Gary