Financial Data and Key Metrics Changes - Revenues associated with the BARDA contract were approximately $4 million in 2024 compared to zero in 2023, as the contract began in June 2023 [27] - Research and development expenses increased to $23.7 million in 2024 from $20.7 million in 2023, representing a 14% increase [28] - Net loss for 2024 was approximately $25 million, or $4.82 per share, compared to $26 million, or $14.29 per share in 2023 [30] Business Line Data and Key Metrics Changes - The BARDA contract is a cost reimbursement contract, with total contract value to GeoVax at $26 million, potentially increasing to $45 million [27] - General and administrative expenses decreased to $5.4 million in 2024 from $6 million in 2023, an 11% decrease [29] Market Data and Key Metrics Changes - The WHO declared Mpox a public health emergency of international concern, emphasizing the need for expanded vaccine supply [19] - There is significant government interest in U.S.-based supply chains, reflecting a shift towards onshoring initiatives [21] Company Strategy and Development Direction - The company aims to establish business partnerships and collaborations for worldwide development, commercialization, and distribution of its vaccines [11] - The focus for 2025 includes advancing the GEO-CM04S1 vaccine, particularly in relation to the Project NextGen initiative [11] Management's Comments on Operating Environment and Future Outlook - Management highlighted the critical need for additional vaccine supply options for Mpox, with Africa needing 20 to 25 million doses [38] - The company remains in close contact with BARDA, with indications that operations will continue as planned despite uncertainties in Washington [70] Other Important Information - The company is actively progressing with the advanced MVA manufacturing process to produce vaccines more efficiently [22] - The anticipated clinical evaluation for the GEO-MVA vaccine is expected to begin in the second half of the year [9] Q&A Session Summary Question: Could GeoVax sell product without clinical testing given the urgency of the Mpox threat? - Management indicated that while there is a major need for vaccines, the ability to sell without clinical testing is uncertain and would depend on emergency use licensing [38] Question: How is GeoVax working with international partners for equitable vaccine access? - Management has been in discussions with African health ministries and European regulatory agencies to ensure equitable access and manufacturing [41] Question: What is needed to start the next Gedeptin trial? - Management stated that sufficient product supply is being manufactured, and the trial is likely to initiate in the mid to latter part of next year [45] Question: How will efficacy and safety be tested for the MVA vaccine? - Management explained that animal studies may run in parallel with clinical trials, focusing on immunological endpoints [52][54] Question: What are the timelines for data readouts for the Phase 2 trials? - Management expects readouts for the blood cancer patient study in early to mid-2026 and for the CLL study to be fully enrolled by the end of the year [64][66] Question: How might changes in COVID-19 funding affect the company? - Management reported ongoing positive communication with BARDA, with no current indications to slow down operations [70]

Financial Data and Key Metrics Changes - Revenues associated with the BARDA contract were approximately $4 million in 2024 compared to zero in 2023, as the contract began in June 2023 [19] - Research and development expenses increased to $23.7 million in 2024 from $20.7 million in 2023, representing a 14% increase [20] - General and administrative expenses decreased to $5.4 million in 2024 from $6 million in 2023, an 11% decrease [21] - Net loss for 2024 was approximately $25 million or $4.82 per share, compared to a net loss of $26 million or $14.29 per share in 2023 [21][22] Business Line Data and Key Metrics Changes - The BARDA contract is a cost reimbursement contract, meaning revenues correlate directly with billable personnel time and incremental expenses incurred [19] - The total contract value to GeoVax is $26 million but may increase to as much as $45 million [20] Market Data and Key Metrics Changes - The WHO declared mpox as a public health emergency of international concern, emphasizing the need for additional vaccine supply options [14][15] - There is significant government interest in U.S.-based supply chains, reflecting a shift from reliance on non-U.S. suppliers [16] Company Strategy and Development Direction - The company aims to develop innovative cancer therapies and infectious disease vaccines, focusing on expedited registration pathways [9] - Strategic focus on oncology, particularly related to Godeptin, remains a major priority for 2025 [17] - The company is actively pursuing partnerships and collaborations to support worldwide development and commercialization [9][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of CM04S1 as a next-generation COVID-19 vaccine, particularly for immunocompromised populations [12][58] - The company is in regular contact with BARDA, maintaining a positive relationship and continuing to meet development milestones [52][59] Other Important Information - The company has produced sufficient product to support anticipated clinical evaluations and potential additional clinical use [7] - The advanced MVA manufacturing process is expected to enable efficient production and distribution of MVA-based vaccines [17] Q&A Session Summary Question: Could GeoVax sell product without clinical testing due to the urgency of the mpox threat? - Management indicated that while typically not possible, there may be opportunities for emergency use licensing depending on recognized need, especially given the significant demand in Africa [26][27] Question: How is GeoVax ensuring equitable vaccine access in low-income countries? - The company has been in discussions with African health ministries and European regulatory agencies to ensure equitable access and is actively building relationships with organizations like UNICEF [28][30] Question: What is needed to start the next GIDEPTIN trial? - Management stated that they are continuing to manufacture the product and expect to initiate the clinical trial in the mid to latter part of next year [31][33] Question: How will efficacy and safety be tested for the MVA vaccine? - The standard approach involves non-human primate studies to show efficacy, with discussions ongoing with regulators about potential animal testing [37][39] Question: What are the expected timelines for data readouts from ongoing trials? - Management expects readouts for the blood cancer patient study in early to mid-2026 and anticipates interim data presentations for the CLL study before the end of the year [47][50] Question: How might changes in COVID-19 funding affect the company? - Management reported that discussions with BARDA remain positive, with no indications to slow down operations, and they are working under the assumption that clinical trials will proceed as planned [51][52][59]