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GeoVax Reports 2020 Third Quarter Financial Results and Provides Corporate Update
Public Offering Completed in September 2020 Provides Resources to Accelerate COVID-19 Vaccine and Immuno-Oncology Programs ATLANTA, GA, Nov. 05, 2020 (GLOBE
About this update from Geovax Labs, Inc.
[{"type":"text","content":"Public Offering Completed in September 2020 Provides Resources to Accelerate COVID-19 Vaccine and Immuno-Oncology Programs\n ATLANTA, GA, Nov. 05, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- GeoVax Labs, Inc. (NasdaqCM: GOVX, GOVXW), a biotechnology company developing immunotherapies and vaccines against infectious diseases and cancers, today announced financial results for the quarter ended September 30, 2020 and provided an update on its corporate developments. David Dodd, GeoVax’s Chairman & CEO, commented, “Our corporate development activities during the third quarter centered on securing the capital needed to advance our product development, with a focus on our COVID-19 vaccine and cancer immunotherapy programs. This culminated on September 29 with the closing of our $12.8 million public offering and listing of our common stock (GOVX) and warrants (GOVXW) on Nasdaq. “The GeoVax COVID-19 vaccine program is based on our MVA-VLP technology which enables insertion of multiple antigen fragments, potentially allowing for broad-spectrum virus prevention. This differs from other technologies which only allow for specific genetic fragments and therefore may result in a tight, narrow focus of a single protein as the target. We believe that the GeoVax approach has the potential to provide a stronger and broader immune response without presenting an increased infectious risk to the vaccinated individual, perhaps in a single dose versus the multiple dosing anticipated from alternative vaccine approaches.” “We use the same technology for our immuno-oncology program. Our cancer immunotherapy concept is to combine a tumor-associated antigen vaccine with a potent anti-tumor agent, such as an Immune Checkpoint Inhibitor (“ICI”), with the goal of achieving regression of tumor growth and development. The initial animal studies, based upon a GeoVax-MUC1 vaccine/ICI combination have been encouraging, which is why we’re focused in this area as one of our priorities.” Though the primary use of proceeds from the offering will be to accelerate development of the Company’s COVID-19 vaccine and immuno-oncology programs, several other programs continue to advance through partnering and collaborative efforts, requiring minimal capital investment and additional resources from the Company: The National Institute of Allergy and Infectious Diseases (NIAID)...