The Underlying Value of GeoVax, and the Promise of the Technology...A Comprehensive Review of GeoVax's Various Development Programs
ATLANTA, GA / ACCESSWIRE / November 7, 2019 / GeoVax Labs, Inc. (OTCQB:GOVX), a biotechnology company developing human immunotherapies and vaccines, today announced its financial results for the quarter ended September 30, 2019 and provided an update on its corporate development progress.
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Key Takeaways:
- Cancer Immunotherapy - Collaborations with University of Pittsburgh and ViaMune, Inc.,Vaxeal Holding SA., Emory University and Leidos, Inc.
- HIV "Functional Cure" Immunotherapy - We are participating in a planned clinical trialled by researchers at American Gene Technologies (AGT) (www.americangene.com), to develop a therapy aimed at eliminating HIV from infected people.
- HIV Preventive Vaccine - We are planning for a new Phase 1 human clinical trial with operational support from the HIV Vaccine Trials Network (HVTN) and funding from the National Institute of Allergy and Infectious Diseases (NIAID).
About GeoVax
GeoVax Labs, Inc. is a clinical-stage biotechnology company developing human vaccines against infectious diseases and cancer using a novel patented Modified Vaccinia Ankara-Virus Like Particle (MVA-VLP) based vaccine platform. On this platform, MVA, a large virus capable of carrying several vaccine antigens, expresses proteins that assemble into VLP immunogens within (in vivo) the person receiving the vaccine. The production of VLPs in the person being vaccinated mimics virus production in a natural infection, stimulating both the humoral and cellular arms of the immune system to recognize, prevent, and control the target infection. The MVA-VLP derived vaccines elicit durable immune responses in the host similar to a live-attenuated virus, while providing the safety characteristics of a replication-defective vector.
GeoVax's current development programs are focused on preventive vaccines against HIV, Zika Virus, hemorrhagic fever viruses (Ebola, Sudan, Marburg, and Lassa), and malaria, as well as therapeutic vaccines against chronic Hepatitis B infections and multiple cancers. The Company has designed a preventive HIV vaccine candidate to protect against the subtype of HIV prevalent in the larger commercial markets of the Americas, Western Europe, Japan, and Australia; this program is currently undergoing human clinical trials managed by the HIV Vaccine Trials Network (HVTN) with the support of the National Institutes of Health (NIH). GeoVax's HIV vaccine is also part of collaborative efforts to develop an immunotherapy as a functional cure for HIV. For more information, visit www.geovax.com.
Forward-Looking Statements
Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors, including whether: any of GeoVax's collaborative efforts will be successful, GeoVax can develop and manufacture its vaccines with the desired characteristics in a timely manner, GeoVax's vaccines will be safe for human use, GeoVax's vaccines will effectively prevent targeted infections in humans, GeoVax's vaccines will receive regulatory approvals necessary to be licensed and marketed, GeoVax raises required capital to complete vaccine development, there is development of competitive products that may be more effective or easier to use than GeoVax's products, GeoVax will be able to enter into favorable manufacturing and distribution agreements, and other factors, over which GeoVax has no control. GeoVax assumes no obligation to update these forward-looking statements and does not intend to do so. More information about these factors is contained in GeoVax's filings with the Securities and Exchange Commission including those set forth at "Risk Factors" in GeoVax's Form 10-K.
Contact: [email protected]
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| Condensed Consolidated Statements of Operations Information |
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Three Months Ended | Nine Months Ended | ||||||||||||||||||
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September 30, | September 30, | ||||||||||||||||||
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2019 | 2018 | 2019 | 2018 | ||||||||||||||||
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Grant and collaboration revenue
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$ | 333 | $ | 349 | $ | 907 | $ | 664 | ||||||||||||
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Operating expenses:
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Research and development
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468 | 557 | 1,475 | 1,417 | ||||||||||||||||
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General and administrative
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291 | 459 | 1,214 | 1,175 | ||||||||||||||||
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759 | 1,016 | 2,689 | 2,592 | ||||||||||||||||
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Loss from operations
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(426 | ) | (667 | ) | (1,781 | ) | (1,928 | ) | ||||||||||||
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Other income (expense), net
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2 | - | 1 | 2 | ||||||||||||||||
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Net loss
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$ | (424 | ) | $ | (667 | ) | $ | (1,780 | ) | $ | (1,926 | ) | ||||||||
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Loss per common share
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$ | (0.03 | ) | $ | (1.99 | ) | $ | (0.37 | ) | $ | (6.43 | ) | ||||||||
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| Condensed Consolidated Balance Sheet Information |
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Sep. 30, | Dec. 31, | ||||||||||
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2019 | 2018 | ||||||||||
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Assets:
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Cash and cash equivalents
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$ | 569 | $ | 260 | ||||||||
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Other current assets
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226 | 360 | ||||||||||
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Total current assets
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795 | 620 | ||||||||||
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Property, net
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10 | 11 | ||||||||||
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Other assets
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11 | 11 | ||||||||||
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Total assets
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$ | 816 | $ | 642 | ||||||||
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Liabilities and stockholders' equity (deficiency)
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Current liabilities
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$ | 1,808 | $ | 1,624 | ||||||||
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Note payable, net of current portion
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29 | 40 | ||||||||||
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Stockholders' equity (deficiency)
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(1,021 | ) | (1,022 | ) | ||||||||
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Total liabilities and stockholders' equity (deficiency)
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$ | 816 | $ | 642 | ||||||||
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Common shares outstanding
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95,628 | 4 | ||||||||||
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SOURCE: GeoVax Labs, Inc.