GeoVax Labs, Inc. reported its financial results for the second quarter of 2025, revealing a significant increase in revenue driven by government contracts. The company generated $852,282 in revenue for the three months ended June 30, 2025, compared to $300,677 for the same period in 2024. For the first half of 2025, total revenue reached $2,489,145, a substantial rise from the previous year's $300,677. Despite this revenue growth, GeoVax reported a net loss of $5,369,783 for the second quarter, slightly higher than the $5,064,042 loss recorded in the same quarter of 2024. The net loss for the six-month period was $10,727,434, down from $10,914,174 in 2024.
The company's operating expenses also increased, with total operating expenses for the second quarter amounting to $6,271,188, up from $5,362,898 in the prior year. Research and development expenses rose by 10.6% to $4,728,998, while general and administrative expenses surged by 42% to $1,542,190. The increase in expenses was attributed to higher costs associated with the ATI-RRPV Contract and investor relations consulting. The company’s cash and cash equivalents decreased to $3,093,862 as of June 30, 2025, down from $5,506,941 at the end of 2024.
GeoVax's operational developments included the advancement of its lead clinical programs, particularly the GEO-CM04S1 COVID-19 vaccine, which is currently undergoing multiple Phase 2 clinical trials. The company also reported that it had received a contract from the Biomedical Advanced Research and Development Authority (BARDA) to support the development of this vaccine, although the contract was later terminated by BARDA in April 2025. Additionally, GeoVax is progressing with its Gedeptin gene-directed enzyme prodrug therapy and the GEO-MVA vaccine targeting Mpox and smallpox.
In terms of strategic developments, GeoVax successfully raised approximately $7.9 million through a registered direct offering and an At-the-Market (ATM) program in early 2025. Following this, the company closed a public offering on July 2, 2025, raising an additional $5.6 million. The company’s total outstanding shares increased to 25,359,593 as of July 28, 2025, reflecting the issuance of new shares during these offerings. Looking ahead, GeoVax anticipates needing additional funding to support its ongoing research and development activities and plans to pursue various financing options, including public or private equity, government grants, and strategic partnerships. The company expressed confidence in its ability to secure the necessary capital, although it acknowledged the substantial doubt regarding its ability to continue as a going concern without additional funding.
About GeoVax Labs, Inc.
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