Business
GeoVax Reports 2019 Year-End Financial Results And Provides Corporate Update
Recent Pivot to COVID-19 Vaccine Development;Continued Advancements in Other Infectious Disease and Immuno-Oncology Programs ATLANTA, GA, March 25, 2020
About this update from Geovax Labs, Inc.
[{"type":"text","content":" Recent Pivot to COVID-19 Vaccine Development;Continued Advancements in Other Infectious Disease and Immuno-Oncology Programs\n ATLANTA, GA, March 25, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- GeoVax Labs, Inc. (OTC: GOVX), a biotechnology company developing human immunotherapies and vaccines against infectious diseases and cancer, today announced its financial results for the year ended December 31, 2019 and provided an update on its corporate development progress. David Dodd, President & CEO, commented, “During the past year and the early months of 2020, GeoVax made substantial progress in various areas of product development. This was combined with tough capital restructuring decisions that, while painful at the time, have now resulted in GeoVax being better positioned for future financing efforts in support of our programs and increasing shareholder value. I am pleased to share a few highlights here.” Coronavirus Vaccine – In January 2020, we announced our initiation of efforts to develop a vaccine against novel coronavirus disease (COVID-19) caused by the SARS-Cov-2 coronavirus including a letter of intent for a collaboration with BravoVax, a vaccine developer in Wuhan, China. On March 18, 2020, we provided an update on the progress of our program, including the completion of three vaccine candidates and plans for advancing to human clinical trials. Our vaccine has been added to the “Draft Landscape of COVID-19 Candidate Vaccines” by the World Health Organization (link). We will continue to provide updates on our progress with this very important program. Cancer Immunotherapy – In September 2019, we incorporated Immutak Oncology, Inc as a wholly-owned subsidiary of GeoVax. We established Immutak to focus on the advancement of our immuno-oncology programs and to seek additional, complementary technologies and clinical-stage products in the oncology space. We intend to leverage the work completed and ongoing with our collaborators at the University of Pittsburgh, ViaMune, Leidos, and others, and have initiated a separate financing effort in support of these programs. We believe developing our programs in this area to be a key component for strengthening the valuation of GeoVax and providing future value growth opportunity. HIV Vaccines (Therapeutic) – We are participating in a planned clinical trial led by researchers at A...