ATLANTA, GA, Jan. 29, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – GeoVax Labs, Inc. (Nasdaq: GOVX), a biotechnology company developing immunotherapies and vaccines against cancers and infectious diseases, today announced that the Company's Board of Directors has approved a reverse stock split of its issued and outstanding shares of common stock, par value $0.001 per share (the "Common Stock"), at a ratio of 1-for-15. The Company is effecting the reverse split to regain compliance with the $1.00 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2). The reverse stock split was approved by the Company's stockholders at a meeting held January 16, 2024.
The reverse stock split will become effective on January 30, 2024 (the "Effective Date"), and the Common Stock is expected to begin trading on the split-adjusted basis on the Nasdaq Stock Exchange ("Nasdaq") at the market open on January 31, 2024. Following the reverse split, the Common Stock will continue to trade under the symbol "GOVX", and the Company's publicly traded warrants will continue to trade under the symbol "GOVXW".
On the Effective Date, every 15 issued and outstanding shares of the Company's Common Stock will be converted automatically into one share of the Company's Common Stock without any change in the par value per share. The total number of issued and outstanding shares of Common Stock will therefore be reduced proportionately from 29,757,823 shares to approximately 1,983,855 shares. On the Effective Date, the publicly traded warrants will be adjusted to require fifteen (15) warrants to be exercised to receive one (1) share of common stock at a price of $75 per share.
Immediately after the reverse stock split, each stockholder's percentage ownership interest in the Company and proportional voting power will remain unchanged, except for minor changes and adjustments that will result from the rounding up of any fractional shares to the next whole number of shares. The rights and privileges of the holders of shares of Common Stock will be substantially unaffected by the reverse stock split.
About GeoVax
GeoVax Labs, Inc. is a clinical-stage biotechnology company developing novel therapies and vaccines for solid tumor cancers and many of the world's most threatening infectious diseases. The company's lead program in oncology is a novel oncolytic solid tumor gene-directed therapy, Gedeptin, presently in a multicenter Phase 1/2 clinical trial for advanced head and neck cancers. GeoVax's lead infectious disease candidate is GEO-CM04S1, a next-generation COVID-19 vaccine targeting high-risk immunocompromised patient populations. Currently in three Phase 2 clinical trials, GEO-CM04S1 is being evaluated as a primary vaccine for immunocompromised patients such as those suffering from hematologic cancers and other patient populations for whom the current authorized COVID-19 vaccines are insufficient, and as a booster vaccine in patients with chronic lymphocytic leukemia (CLL). In addition, GEO-CM04S1 is in a Phase 2 clinical trial evaluating the vaccine as a more robust, durable COVID-19 booster among healthy patients who previously received the mRNA vaccines. GeoVax has a leadership team who have driven significant value creation across multiple life science companies over the past several decades. For more information, visit our website: .
Forward-Looking Statements
This release contains forward-looking statements regarding GeoVax's business plans. The words "believe," "look forward to," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Actual results may differ materially from those included in these statements due to a variety of factors, including whether: GeoVax is able to obtain acceptable results from ongoing or future clinical trials of its investigational products, GeoVax's immuno-oncology products and preventative vaccines can provoke the desired responses, and those products or vaccines can be used effectively, GeoVax's viral vector technology adequately amplifies immune responses to cancer antigens, GeoVax can develop and manufacture its immuno-oncology products and preventative vaccines with the desired characteristics in a timely manner, GeoVax's immuno-oncology products and preventative vaccines will be safe for human use, GeoVax's vaccines will effectively prevent targeted infections in humans, GeoVax's immuno-oncology products and preventative vaccines will receive regulatory approvals necessary to be licensed and marketed, GeoVax raises required capital to complete development, there is development of competitive products that may be more effective or easier to use than GeoVax's products, GeoVax will be able to enter into favorable manufacturing and distribution agreements, and other factors, over which GeoVax has no control.
Further information on our risk factors is contained in our periodic reports on Form 10-Q and Form 10-K that we have filed and will file with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Company Contact: | Investor Relations Contact: | | | Media Contact: |
info@geovax.com | paige.kelly@sternir.com | | | sr@roberts-communications.com |
678-384-7220 | 212-698-8699 | | | 202-779-0929 |
2024年1月29日、米国ジョージア州アトランタ-(NewMediaWire)GeoVax Labs社(Nasdaq:GOVX)は、がんおよび感染症に対する免疫療法およびワクチンを開発するバイオテクノロジー企業が、発行済みおよび未払株式普通株式(1株当たりの割合は0.001ドルで、その Common Stock )を、1対15の比率で逆分割することを承認したと発表しました。同社は、ナスダックリスティング規則5550(a)(2)に従って継続的にリスティングを維持するために必要な最低入札価格1.00ドルを回復するために、逆分割を実施しています。逆分割は、2024年1月16日に開催された同社の株主会議で承認されました。
逆分割は、2024年1月30日(「有効日」)に有効になり、Common Stockは2024年1月31日の市場オープン時にNasdaq Stock Exchange(「Nasdaq」)で分割調整ベースで取引されることが期待されます。逆分割後、Common Stockは引き続き「GOVX」のシンボルで取引され、同社の公開取引のウォラントは引き続き「GOVXW」のシンボルで取引されます。
有効日に、会社の発行済みおよび未払株式普通株式15株につき1株に自動的に変換され、株あたりの割合は変更されません。Common Stockの発行済み株式総数は、29,757,823株から約1,983,855株に比例的に減少します。有効日に、公開取引のウォラントは、単価75ドルで1株のCommon Stockを受け取るために15(15)個のウォラントが必要になるように調整されます。
逆株式分割後、各株主の持分および比例投票権の割合は、株式の小数点以下を次の整数に切り上げることによるわずかな変更と調整以外は変わりません。特別な権利および株式の持ち主の特権は、逆株式分割によって実質的に影響を受けません。
GeoVax について
GeoVax Labs社は、固形腫瘍がんおよび世界で最も脅威になっている多くの感染症のための新しい治療法およびワクチンを開発する臨床段階のバイオテクノロジー企業です。同社がオンコロジー分野での主要プログラムは、多施設試験中の新しいオンコリティック固形腫瘍遺伝子指向療法Gedeptinであり、既存のワクチンが不十分な血液がんなどの免疫能力の低下した患者の主要ワクチンとして評価されている次世代COVID- 19ワクチンであるGEO-CM04S1は、3つのフェーズ2臨床試験で評価されています。さらに、GEO-CM04S1は、mRNAワクチンを既に受けた健康な患者を対象としたより堅牢で耐久性の高いCOVID-19ブースターとしてワクチンがフェーズ2臨床試験で評価されています。GeoVaxには、過去数十年間にわたって複数の生命科学企業で大きな価値を創造したリーダーシップチームがいます。詳細については、webサイトをご覧ください:.
前向きな表現
このリリースには、GeoVaxの事業計画に関する前向きな発言が含まれています。「信じる」「楽しみにしている」「可能性がある」「推定する」「続ける」 「予期する」といった言葉は、私たちは、私たちに関連するものとして、前向きな発言を特定するために意図されています。私たちはこれらの前向きな声明を、私たちが私たちの金融状況、業績、事業戦略、財政ニーズに影響を与えると信じる将来のイベントおよび金融動向についての現在の期待と予測に基づいています。実際の結果は、多様な要因により、これらの声明に含まれるものとは異なる場合があります。
当社のリスクファクターの詳細については、米国証券取引委員会に提出したおよび提出する定期報告書の中に含まれています。ここで当社が行った前向きな声明は、それがなされた日にのみ有効です。我々によって予測できるすべてのものを予測することはできず、私たちの実際の結果が異なる可能性があります。法律によって必要とされる限り、私たちは新しい情報、将来の開発、または他の理由によって、いかなる前向きな声明も公に更新する義務を負いません。
会社連絡先: | 投資家関係連絡先: | | | メディア連絡先: |
info@geovax.com | paige.kelly@sternir.com | | | sr@roberts-communications.com |
678-384-7220 | 212-698-8699 | | | 202-779-0929 |