Geovax Pops on Q3 Numbers, New Vaccine Developments

By: Dylan Sikes – AllPennyStocks.com News

Thursday, November 8, 2018

Atlanta-based health-care ace Geovax Labs Inc (OTCQB: GOVX) had heads turning on U.S. small cap investment circles Thursday, when it came out with third-quarter numbers, and new product developments.

Geovax reported a net loss of $666,893 (less than $0.01 per share) for the three months ended September 30, 2018, compared to $588,757 ($0.01 per share) for the same period in 2017. For the nine months ended September 30, 2018, the Company’s net loss was $1,925,749 ($0.01 per share) as compared to $1,653,979 ($0.03 per share) in 2017.

Research and development expenses were $557,696 for the three-month period of 2018, as compared to $498,200 for the comparable period of 2017.

Moreover, in September, the U.S. Department of Defense awarded us a $2.4-million grant to support the firm’s Lassa Fever vaccine program, following a Fast-Track Phase I/II SBIR grant award in April from the National Institutes of Health (NIH) with an anticipated total project budget of up to $1.9 million.

In May, GOVX received $300,000 for the second year of the NIH SBIR grant award to advance pre-clinical testing of its Zika vaccine in non-human primates in preparation for human clinical trials.

Shares in Geovax gained 21-100ths of a cent, or 10.6%, to 2.2 cents, late Thursday, on more than 2.2 million shares.

Copyright © 2018 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.