GeoVax Labs, Inc. (GOVX) stock is down 4.20% in the current market trading session at the price of $5.47 despite any recent news.
GOVX Stock Presented COVID-19 Vaccine Data at the European Society of Medicine
On 19th August 2021, GOVX presented data on 19-21 August from ongoing studies of its defensive vaccine against COVID-19. The presentation title was Design of a Universal SARS-CoV-2 Vaccine Against Evolving Variants. It was delivered virtually by the Chief Scientific Officer of GOVX, Mark J. Newman, during the European Society of Medicine (ESMED) General Assembly in Berlin, Germany. Dr. Newman explained GeoVax’s vaccine design strategy for developing a universal SARS-CoV-2 vaccine. He presented stability and protein expression data for the company’s initial vaccine candidate, GEO-CM02. Moreover, he discussed vaccine efficacy and immunogenicity data for GEO-CM02 from hamster and transgenic mice studies.
First-generation covid-19 vaccines were quickly developed and have proven highly efficient in the human population. They have devised to encode the prefusion stabilized Spike protein, intending to induce high levels of neutralizing antibodies. However, potential shortcomings of narrowly focused (S) are becoming apparent with emerging variants. Thus, the effectiveness of these vaccines against new SARS-CoV-2 variants and future coronavirus spillover events remains in question.
Second Quarter 2021 Financial Results and Corporate Updates
On 11th August 2021, GOVX published its financial results for the quarter that ended on 30th June 2021. GOVX announced a net loss of $1,314,033 or $0.21 per share for the three months ended on 30th June 2021. Net loss was $455,204 or $0.66 per share for the same period in 2020. For the six months ended 30th June 2021, the company’s net loss was $2,876,811 or $0.49 per share. A net loss of $1,050,898 or $2.27 per share was reported in the same period 2020. Grant and collaboration revenues were $79,708 and $190,125 for the three-month and six-month periods of 2021, respectively. The grant and collaboration revenues were $440,602 and $1,156,579 for the comparable periods of 2020.
CEO of GOVX David Dodd remarked that they remain passionate about their development programs. They anticipate multiple data announcements in the upcoming weeks and months, specifically in the areas of COVID-19, Lassa Fever virus, Sudan/Marburg virus, and immuno-oncology. The ongoing COVID-19 pandemic has changed the timelines for some of their programs, most notably the HIV program. Additionally, the third-party technical interruptions have delayed the completion of various contracted animal studies. They remain confident and focused on completing these studies and publishing their results, he added.
