GeoVax Labs, a clinical-stage biotechnology company, reported substantial developments in its COVID-19 vaccine and cancer therapy research in its 2024 year-end financial results. The company received a nearly $400 million award from the Biomedical Advanced Research and Development Authority (BARDA) to advance its GEO-CM04S1 COVID-19 vaccine through a comprehensive Phase 2b clinical trial.
The company's COVID-19 vaccine strategy focuses on addressing critical gaps in current vaccination approaches, particularly for immunocompromised populations. GeoVax's dual-antigen vaccine aims to provide more robust protection against multiple SARS-CoV-2 variants, with an estimated market potential exceeding $30 billion.
Simultaneously, GeoVax is progressing its oncology program, Gedeptin, which is preparing to enter a Phase 2 clinical trial for first recurrent head and neck cancer. The therapy, developed as an FDA-designated Orphan Drug, represents a significant market opportunity estimated at $15 billion and demonstrates potential for treating various solid tumor indications.
The company is also advancing its Mpox and Smallpox vaccine platform, GEO-MVA, with clinical evaluations expected to begin in late 2025. This initiative addresses a critical public health need and represents a potential $10 billion market opportunity while reinforcing domestic biosecurity through innovative manufacturing processes.
Financially, GeoVax reported a net loss of $25.0 million for 2024, slightly improved from $26.0 million in 2023. The company generated $4.0 million in government contract revenues and continues to strengthen its intellectual property portfolio with over 130 granted or pending patents across 23 different families.
These strategic developments position GeoVax to potentially transform vaccine and cancer therapy landscapes, addressing significant unmet medical needs and contributing to global public health preparedness.
