The following is a summary of the GeoVax Labs, Inc. (GOVX) Q1 2024 Earnings Call Transcript:
Financial Performance:
GeoVax reported a net loss of $5.9 million for Q1 2024, or $2.47 per share, compared to a loss of $4 million in 2023, or $2.30 per share, primarily driven by the clinical trial programs for CM04S1 and Gedeptin.
Research and development expenses were $4.4 million, up $1.6 million or 57% compared to 2023.
Q1 2024 general and administrative expenses remained relatively unchanged at $1.5 million.
Cash balances at the end of the first quarter stood at $769,000, down $5.7 million from the end of 2023 due to operating activities.
Business Progress:
GeoVax has made significant progress with its two Phase 2 products, Gedeptin and GEO-CM04S1, with the former being in trial phase for cancer patients.
For 2024, GeoVax will continue to focus on Gedeptin and CM04S1, targeting underserved patient populations.
The company expects to report final results for the Gedeptin trial in the first half of 2024.
The company anticipates delivering results from Phase 2 programs for their next-generation COVID-19 vaccine, CM04S1.
There are advanced discussions regarding Project NextGen with BARDA and potential evaluation of Gedeptin as combination therapy with immune checkpoint inhibitors.
CM04S1 is undergoing three Phase 2 trials, two of which are aimed at high-risk populations.
Final results from the vaccine clinical trials are expected in Q4 2024, and the company is planning to raise capital in the near future.
More details: GeoVax Labs IR
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