GeoVax Labs, Inc., developer of HIV/AIDS and other vaccines whose DNA and MVA vaccines showed increased anti-HIV immunological response in Phase 1 human clinical data, leading to Phase 2 testing in 09 (currently ongoing), and FDA Phase 1 therapeutic trial approval for patients infected with HIV, disclosed 3-month (ending Mar.31) financial data today.
With a bright future doling out lucrative manufacturing and distribution rights to a global market eager for these revolutionary products, GOVXD ended the period with $2,603,108 in cash as net loss declined 19.8% from the same period in 09 to $690,789 – losses were offset by grants ($710,155 in 09 and $1,338,560 in 10) from the National Institutes of Health to support ongoing HIV/AIDS vaccine development.
President and CEO of GOVXD, Robert T. McNally, PhD, took a moment to comment on the outstanding research progress the Company has made and attributed said progress to the hard work invested by everyone in getting the leading HIV vaccine candidate out of P1 and into P2a human clinical “conducted and funded by the HIV Vaccine Trials Network (HVTN), wherein enrollment is proceeding abreast of expectations leading to a 2011 projected results date for the trial.”
McNally elaborated on the aforementioned FDA-approved, P1 human clinical, therapeutic HIV vaccine candidate trials, noting that it would focus on infected individuals who started drug treatment within the first year of infection, and that the site prep was ready to accept and currently evaluate trial candidates who meet the criteria.
McNally also pointed out that GOVXD is well-positioned to capitalize on their efforts with remarkably marketable products, and projected “great things” to come for the Company, whose shareholders just approved (Apr. 27) a reverse stock split, qualifying GOVXD to list on a major exchange – thus increasing overall visibility and attracting more investments.
In addition to developing innovative vaccines, GOVXD has also indicated that they may seek more than the royalties, fees, and agreements associated with licensing, and has expressed interest in pursuing the capacity for internal, commercial-scale manufacturing and distribution.
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