Item 2.02 Results of Operations and Financial Condition.

On January 29, 2009, in connection with the events described in Item 2.05 below, GenVec, Inc. announced that it ended the year with approximately $17.4 million in cash, cash equivalents and short term investments.

Item 2.05 Costs Associated with Exit or Disposal Activities.

On January 29, 2009, GenVec, Inc. announced that it is lowering its operating costs in order to increase the Company's efficiency, including eliminating 22 positions. These changes, effective immediately, reduce the Company's workforce to 101 positions, and have been made to lower the Company's expenses during this period of unfavorable economic conditions. The Company expects that lowering costs, in addition to revenues from funded collaborations, will provide the company with approximately 18 to 24 months of operating capital. The Company estimates that approximately $0.26 million of expenses will be incurred in the first quarter of 2009 due to the costs of reducing the Company's workforce. The reduction in force will be completed in the first quarter of 2009.

A copy of the press release regarding this announcement is attached hereto and incorporated herein by reference as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Number Description
99.1 Press release of GenVec, Inc., dated January 29, 2009

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