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GeoVax Labs Inc. (GOVX+4.90%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details GeoVax's ongoing development of vaccines and immunotherapies, with a focus on infectious diseases and solid tumor cancers. The company's lead clinical program is GEO-CM04S1, a next-generation COVID-19 vaccine, currently supported by a U.S. government-funded contract for a Phase 2b clinical trial.
GeoVax reported $3,954,576 in revenue from a government contract during 2024, with no comparable revenue in 2023. This revenue is associated with the ATI-RRPV Contract, which funds the development of GEO-CM04S1.
Research and development expenses increased to $23,713,602 in 2024 from $20,720,766 in 2023, primarily due to costs related to the ATI-RRPV Contract, Gedeptin, and GEO-MVA programs.
General and administrative expenses decreased to $5,385,254 in 2024 from $6,022,173 in 2023, attributed to lower stock-based compensation and consulting costs.
GeoVax recorded a net loss of $24,992,296 for 2024, compared to a net loss of $25,966,762 for 2023. The decrease in net loss is primarily due to the revenue from the government contract.
As of December 31, 2024, GeoVax had $5,506,941 in cash and cash equivalents, with working capital of $4,827,551. The company raised approximately $23.8 million in 2024 through equity offerings and warrant exercises.
GeoVax anticipates needing additional funding to continue its operations beyond the third quarter of 2025 and plans to seek additional capital through various means, including public or private equity or debt financing.
The company acknowledges substantial doubt about its ability to continue as a going concern without securing additional funding.
GeoVax continues to focus on advancing its vaccine and immunotherapy technologies, with ongoing clinical and preclinical programs targeting COVID-19, cancer, Mpox, smallpox, and other infectious diseases.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the GeoVax Labs Inc. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.