GeoVax Reports Third Quarter 2024 Financial Results and Provides Business Update

Core Insights - GeoVax Labs, Inc. is making significant progress in its clinical trials, particularly with the GEO-CM04S1 COVID-19 vaccine and Gedeptin for head and neck cancer [1][2][4] Clinical Development Updates - The BARDA Project NextGen Phase 2b trial for GEO-CM04S1 is set to initiate with confirmed sites and a target of 10,000 participants to compare its efficacy against an FDA-approved mRNA COVID-19 vaccine [4][2] - Interim results from existing Phase 2 clinical studies are expected in Q4 2024, including trials for immunocompromised patients and booster trials for healthy adults [4] - Gedeptin is on track for a Phase 2 trial in first recurrent head and neck cancer patients, anticipated to start in the first half of 2025 [3][5] Vaccine Development - The GEO-MVA vaccine candidate for Mpox is progressing, with a cGMP clinical batch expected to be completed in Q4 2024 [3][7] - The MVA vaccine is recognized for its safety and efficacy, and is currently stockpiled in the U.S. for potential bioterrorism threats [7] Financial Performance - For Q3 2024, GeoVax reported a net loss of $5.82 million, or $0.91 per share, an improvement from a net loss of $8.41 million, or $4.75 per share, in Q3 2023 [10] - Revenue from government contracts related to the BARDA Project NextGen award was $2.79 million for Q3 2024, with no revenues reported in the same period of 2023 [10] - Research and development expenses increased to $7.40 million for Q3 2024, compared to $6.95 million in Q3 2023, primarily due to manufacturing costs for clinical trials [10] Corporate Developments - GeoVax appointed Dr. Teresa Lambe to its Scientific Advisory Board, enhancing its expertise in vaccinology and immunology [9] - The company reported cash balances of $8.59 million as of September 30, 2024, an increase from $6.45 million at the end of 2023 [10][17]