Crystal Research Associates has issued a 16-page Quarterly Update on clinical-stage biotechnology company, GeoVax Labs, Inc. (GOVX-NASDAQ).
Snapshot of GeoVax
GeoVax Labs, Inc. (“GeoVax” or “the Company”) is a clinical-stage biotechnology company developing novel therapies and vaccines for cancers and many of the world’s most threatening infectious diseases. The Company’s lead program in oncology is a novel oncolytic solid tumor gene-directed therapy, Gedeptin®, presently in a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. GeoVax’s lead infectious disease candidate is GEO-CM04S1, a next-generation COVID-19 vaccine targeting high-risk immunocompromised patient populations. GEO-CM04S1 is currently being evaluated in two Phase 2 clinical trials: (1) as a COVID-19 vaccine for immunocompromised patients; and (2) as a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. GeoVax has a leadership team who has driven significant value creation across multiple life science companies over the past several decades.
Key Points
- On March 23, 2023, GeoVax announced financial results for the year ended December 31, 2022 and provided a corporate update. The Company reported a net loss for the year ended December 31, 2022 of $14.0 million or ($0.83) per share versus $18.6 million or ($3.04) per share for the year ended December 31, 2021.
- GeoVax continues to focus on advancing its ongoing clinical programs for its Gedeptin® cancer therapy, targeting advanced head and neck cancers, as well as its SARS-CoV-2/COVID-19 vaccine. The Company recently expanded to additional clinical sites and is accelerating patient enrollment for both programs. GeoVax expects to report its progress from these trials in the coming months.
- A version of modified vaccinia Ankara (MVA) is the vaccine used and stockpiled for immunization against Monkeypox. GeoVax has acquired rights to a similar version of MVA from National Institutes of Health (NIH) to develop a Monkeypox vaccine; it is also the vaccine vector used in GeoVax’s vaccines targeting COVID‐19, Hemorrhagic fever viruses, HIV, Zika, and the Company’s MVA‐VLP‐MUC1 cancer immunotherapy.
- In February 2023, GeoVax announced significant progress in developing a high-yield, high-capacity, continuous avian cell line system for manufacturing its MVA-based vaccines and immunotherapies. The Company expects to accelerate its efforts towards fully implementing a proprietary, continuous cell line manufacturing system that is intended to provide lower-cost, scalable versatility for broad MVA vaccine and immunotherapy applications.
GeoVax’s intellectual property portfolio contains over 115 granted or pending patent applications across 24 patent families. - The Company’s financing activities during 2022 have provided GeoVax with sufficient resources to advance its development programs, including producing additional drug product for use in its clinical trials. GeoVax reported cash balances of $27.6 million at December 31, 2022 versus $11.4 million at December 31, 2021. Contributing to the increase in cash balances were aggregate net proceeds of $27.7 million from equity transactions during January 2022 and May 2022, and $7.6 million from the exercise of warrants during August 2022.
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