Summary by Moomoo AI
GeoVax Labs has secured a major BARDA Project NextGen contract worth over $350 million to advance its dual-antigen COVID-19 vaccine candidate, GEO-CM04S1, into a 10,000-participant Phase 2b clinical trial. The company will receive direct funding of approximately $24.3 million, potentially increasing to $45 million, for manufacturing and trial support. The study will compare GEO-CM04S1 with an FDA-approved mRNA COVID-19 vaccine.The company reported Q2 2024 financial results with a net loss of $5.1 million ($1.99 per share), compared to $5.9 million in Q2 2023. R&D expenses were $4.3 million, while G&A expenses decreased to $1.1 million. Cash balance stood at $1.6 million as of June 30, 2024.In other developments, GeoVax plans to advance Gedeptin into an expanded Phase 2 clinical trial for first-recurrence head and neck cancer patients in H1 2025. The company also achieved a milestone in vaccine manufacturing by producing its first lot of GEO-CM04S1 using a commercial manufacturing platform at Oxford Biomedica.
