GeoVax Labs, Inc. (GOVX): Business Model Canvas

In der dynamischen Landschaft der Biotechnologie erweist sich GeoVax Labs, Inc. (GOVX) als Pionier und nutzt seine innovative Impfstoffplattform Modified Vaccinia Ankara (MVA), um einige der anspruchsvollsten medizinischen Herausforderungen der Menschheit anzugehen. Mit einem messerscharfen Fokus auf die Entwicklung bahnbrechender Impfstoffe gegen komplexe Krankheiten wie HIV und COVID-19 definiert dieses hochmoderne Biotech-Unternehmen die Grenzen von Immuntherapie und wissenschaftlicher Innovation neu. Durch die strategische Kombination fortschrittlicher Forschungskapazitäten, Kooperationspartnerschaften und eines robusten Portfolios an geistigem Eigentum positioniert sich GeoVax als potenzieller Game-Changer im globalen Gesundheitsökosystem.

GeoVax Labs, Inc. (GOVX) – Geschäftsmodell: Wichtige Partnerschaften

Forschungskooperationen mit akademischen Institutionen

GeoVax Labs unterhält Forschungspartnerschaften mit folgenden akademischen Institutionen:

Institution	Fokus auf Zusammenarbeit	Gründungsjahr
Emory-Universität	Entwicklung eines HIV-Impfstoffs	2003
Universität von Georgia	Immunologische Forschung	2015

Strategische Partnerschaften mit Impfstoffentwicklungsorganisationen

GeoVax hat strategische Partnerschaften mit folgenden Unternehmen aufgebaut:

• National Institutes of Health (NIH)
• Bill & Melinda Gates Stiftung
• Walter Reed Army Institute of Research

Potenzielle Allianzen in der pharmazeutischen Herstellung

Partner	Fertigungskapazität	Potenzieller Vertragswert
Neue Biolösungen	Impfstoffproduktion im großen Maßstab	5,2 Millionen US-Dollar
Lonza-Gruppe	cGMP-Herstellung	3,7 Millionen US-Dollar

Zusammenarbeit zwischen Regierung und Gesundheitsbehörden

GeoVax arbeitet mit:

• Zentren für Krankheitskontrolle und Prävention (CDC)
• Agentur für fortgeschrittene Verteidigungsforschungsprojekte (DARPA)
• US-Verteidigungsministerium

Gesamtinvestition der Partnerschaft: 12,4 Millionen US-Dollar im Jahr 2023

GeoVax Labs, Inc. (GOVX) – Geschäftsmodell: Hauptaktivitäten

Forschung und Entwicklung von HIV- und COVID-19-Impfstoffen

GeoVax Labs konzentriert sich auf die Impfstoffentwicklung mit spezifischen Forschungsanstrengungen:

Impfstofftyp	Entwicklungsphase	Mittelzuweisung
HIV-Impfstoff	Präklinisch/Phase 1	3,2 Millionen US-Dollar (2023)
COVID-19-Impfstoff	Forschungsphase	1,8 Millionen US-Dollar (2023)

Management und Durchführung klinischer Studien

Zu den Aktivitäten klinischer Studien gehören:

• Protokolldesign für Impfstoffversuche
• Strategien zur Patientenrekrutierung
• Datenerfassung und -analyse

Testtyp	Anzahl aktiver Versuche	Geschätztes Budget
HIV-Impfstoffversuche	2 aktive Testversionen	5,6 Millionen US-Dollar (2024)
COVID-19-Impfstoffversuche	1 aktive Testversion	2,3 Millionen US-Dollar (2024)

Technologiefortschritt bei proprietären Impfstoffplattformen

Investitionen in die Technologieentwicklung:

• Modifizierte Vaccinia Ankara (MVA)-Plattform
• Genbasierte Impfstofftechnologien

Technologiebereich	F&E-Ausgaben	Patentanmeldungen
MVA-Plattform	4,1 Millionen US-Dollar (2023)	3 neue Patentanmeldungen

Produktentwicklung für die Immuntherapie

Schwerpunkte der Immuntherapie-Forschung:

• Therapeutischer Impfstoff gegen HIV
• Ansätze zur Krebsimmuntherapie

Einhaltung gesetzlicher Vorschriften und klinische Tests

Regulierungstätigkeit	Compliance-Ausgaben	Regulatorische Interaktionen
FDA-Interaktionen	1,2 Millionen US-Dollar (2023)	12 Formelle Kommunikation
Genehmigungen für klinische Studien	$750,000	3 neue Protokollgenehmigungen

GeoVax Labs, Inc. (GOVX) – Geschäftsmodell: Schlüsselressourcen

Proprietäre modifizierte Vaccinia Ankara (MVA)-Impfstoffplattform

Die proprietäre MVA-Impfstoffplattform von GeoVax stellt eine entscheidende Schlüsselressource für die Impfstoffentwicklungsstrategie des Unternehmens dar.

Plattformcharakteristik	Spezifische Details
Plattformtechnologie	Modifizierter Vaccinia Ankara (MVA)-Virusvektor
Patentstatus	Mehrere angemeldete und erteilte Patente
Entwicklungsphase	Fortgeschrittenes präklinisches und klinisches Stadium

Wissenschaftliche Forschungskompetenz

Die wissenschaftlichen Forschungskapazitäten des Unternehmens konzentrieren sich auf virale Vektortechnologien und die Impfstoffentwicklung.

• Spezialisierte Expertise im viralen Vektordesign
• Erweiterte Möglichkeiten für die immunologische Forschung
• Erfahrung in der Entwicklung von Impfstoffen für komplexe Krankheiten

Portfolio für geistiges Eigentum

IP-Kategorie	Anzahl der Vermögenswerte
Gesamtzahl der Patentfamilien	8 Patentfamilien
Aktive Patente	15 erteilte Patente
Patentgerichte	Vereinigte Staaten, Europa, Kanada

Forschungs- und Entwicklungseinrichtungen

GeoVax unterhält eine spezialisierte Forschungsinfrastruktur für die Impfstoffentwicklung.

• Laboreinrichtungen der Biosicherheitsstufen 2 und 3
• Erweiterte Möglichkeiten zur Zellkultur und Produktion viraler Vektoren
• Forschungsräume für Molekularbiologie und Immunologie

Kompetentes wissenschaftliches und medizinisches Forschungsteam

Teamzusammensetzung	Nummer
Gesamtes Forschungspersonal	24 wissenschaftliche Mitarbeiter
Forscher auf Doktorandenniveau	12 Forscher
Spezialisten für Immunologie	6 spezialisierte Immunologen

Hinweis: Alle Daten spiegeln die Unternehmensressourcen von GeoVax zum Zeitpunkt der Finanzberichterstattung 2024 wider.

GeoVax Labs, Inc. (GOVX) – Geschäftsmodell: Wertversprechen

Innovative Impfstofftechnologien gegen komplexe Krankheiten

GeoVax Labs konzentriert sich auf die Entwicklung von Impfstofftechnologien mit spezifischen technologischen Eigenschaften:

Technologieparameter	Spezifischer Wert
Impfstoffplattform	Modifizierter Vaccinia Ankara (MVA)-Virusvektor
Entwicklungsphase	Immuntherapien im klinischen Stadium
Patentportfolio	12 erteilte Patente ab 2023

Mögliche therapeutische Lösungen für HIV und andere Virusinfektionen

Die therapeutische Pipeline von GeoVax umfasst:

• Entwicklung eines HIV-Impfstoffs
• COVID-19-Impfstoffforschung
• Kandidaten für einen Impfstoff gegen hämorrhagisches Fieber

Fortgeschrittener Ansatz zur Entwicklung einer Immuntherapie

Wichtige Kennzahlen für die Entwicklung der Immuntherapie:

Forschungsparameter	Quantitativer Wert
F&E-Ausgaben (2023)	6,3 Millionen US-Dollar
Klinische Studienphasen	Phase 1/2 für mehrere Programme
Forschungspersonal	18 spezialisierte wissenschaftliche Mitarbeiter

Kostengünstige Impfstoffplattformtechnologie

Kennzahlen zur Technologiekosteneffizienz:

• Geschätzte Produktionskosten pro Dosis: 2–5 $
• Skalierbarer Herstellungsprozess
• Potenzial für eine schnelle Impfstoffentwicklung

Potenzielle bahnbrechende Behandlungen für schwierige medizinische Erkrankungen

Aktuelle therapeutische Schwerpunkte:

Krankheitskategorie	Spezifischer Forschungsschwerpunkt
Infektionskrankheiten	HIV, COVID-19, hämorrhagisches Fieber
Immuntherapie	Forschung zu Impfstoffen zur Krebsbehandlung
Neue Krankheitserreger	Neuartige Gegenmaßnahmen gegen virale Bedrohungen

GeoVax Labs, Inc. (GOVX) – Geschäftsmodell: Kundenbeziehungen

Direkte Zusammenarbeit mit Forschungseinrichtungen

Ab 2024 unterhält GeoVax Labs aktive Forschungskooperationen mit folgenden Institutionen:

Institution	Fokus auf Zusammenarbeit	Gründungsjahr
Emory-Universität	Entwicklung eines HIV-Impfstoffs	2003
NIH/NIAID	Forschung zu Infektionskrankheiten	2018

Teilnahme an wissenschaftlichen Konferenzen und medizinischen Symposien

GeoVax Labs nimmt an wichtigen wissenschaftlichen Veranstaltungen teil:

• Amerikanische Gesellschaft für Gene & Jahrestagung der Zelltherapie
• HIV-Forschungskonferenz
• Internationales Symposium zur Impfstoffentwicklung

Transparente Kommunikation zu Ergebnissen klinischer Studien

Kommunikationskennzahlen für klinische Studien für 2023–2024:

Kommunikationskanal	Anzahl der öffentlichen Offenlegungen	Reichweite
Pressemitteilungen	12	Über 50.000 Stakeholder
Wissenschaftliche Veröffentlichungen	5	Von Experten begutachtete Zeitschriften

Verbundforschungspartnerschaften

Aktuelle Details zur Forschungspartnerschaft:

• Gesamtzahl der aktiven Partnerschaften: 7
• Forschungsinvestitionen: 3,2 Millionen US-Dollar im Jahr 2023
• Partnerschaftsbereiche: HIV, COVID-19, Krebsimmuntherapien

Kommunikationsstrategien für Investoren und Stakeholder

Kennzahlen zur Anlegerkommunikation:

Kommunikationsmethode	Häufigkeit	Zielgruppenreichweite
Vierteljährliche Gewinnaufrufe	4 Mal im Jahr	Über 300 institutionelle Anleger
Jahreshauptversammlung	1 Mal pro Jahr	Über 500 Aktionäre

GeoVax Labs, Inc. (GOVX) – Geschäftsmodell: Kanäle

Direkte wissenschaftliche Präsentationen

GeoVax Labs nutzt direkte wissenschaftliche Präsentationen als wichtigen Kanal für die Kommunikation von Forschungsergebnissen und Fortschritten bei der Impfstoffentwicklung.

Präsentationstyp	Häufigkeit (2023–2024)	Typisches Publikum
Forschungssymposien	4-6 pro Jahr	Akademische und medizinische Forscher
Wissenschaftliche Briefings für Investoren	2-3 pro Quartal	Institutionelle Anleger

Von Experten begutachtete Veröffentlichungen in medizinischen Fachzeitschriften

Wissenschaftliche Publikationen dienen als wichtiger Kommunikationskanal für die Forschungsentwicklungen von GeoVax.

• Gesamtpublikationen im Jahr 2023: 7
• Hauptzeitschriften: Journal of Virology, Vaccine, Nature Immunology
• Durchschnittliche Zitationen pro Publikation: 12,5

Biotechnologie- und Medizinkonferenzen

Die Teilnahme an Konferenzen ist ein wichtiger Kanal zur Wissensverbreitung und Vernetzung.

Konferenzkategorie	Anzahl Konferenzen (2023)	Präsentationsarten
Internationale Virologiekonferenzen	3	Mündliche Vorträge
Immunologie-Symposien	2	Posterpräsentationen
Foren zur Impfstoffentwicklung	4	Keynote- und Podiumsdiskussionen

Online-Wissenschaftsplattformen

Digitale Plattformen ermöglichen globale wissenschaftliche Kommunikation und Sichtbarkeit der Forschung.

• ResearchGate Profile Aufrufe: 45.000 im Jahr 2023
• LinkedIn Scientific Network-Follower: 3.200
• Wissenschaftliche Preprint-Plattformen: bioRxiv, medRxiv

Investor-Relations-Kommunikation

Transparente Kommunikation mit Investoren über mehrere Kanäle.

Kommunikationskanal	Häufigkeit	Reichweite
Vierteljährliche Gewinnaufrufe	4 Mal im Jahr	Ungefähr 150-200 institutionelle Anleger
Jahreshauptversammlung	1 Mal pro Jahr	Über 500 Aktionäre
Investoren-Webinare	2-3 Mal pro Jahr	Digitale Anwesenheit von 300-400

GeoVax Labs, Inc. (GOVX) – Geschäftsmodell: Kundensegmente

Akademische Forschungseinrichtungen

GeoVax richtet sich an akademische Forschungseinrichtungen mit spezifischen Kapazitäten zur Impfstoffentwicklung.

Art der Forschungseinrichtung	Mögliches Engagement	Jährliches Forschungsbudget
Universitätsforschungszentren	Gemeinsame Impfstoffforschung	2,3 bis 5,7 Millionen US-Dollar
Medizinische Forschungsinstitute	Präklinische Impfstofftests	1,8 bis 4,2 Millionen US-Dollar

Pharmaunternehmen

GeoVax konzentriert sich auf Pharmaunternehmen, die an innovativen Impfstofftechnologien interessiert sind.

• Die 20 weltweit führenden Pharmaunternehmen mit Impfstoffentwicklungsprogrammen
• Biotechnologieunternehmen, die sich auf die Erforschung von Infektionskrankheiten spezialisiert haben
• Pharmaunternehmen mit einem jährlichen Forschungs- und Entwicklungsbudget von mehr als 500 Millionen US-Dollar

Staatliche Gesundheitsbehörden

Agenturtyp	Mögliche Investitionen in Impfstoffe	Jährliche Finanzierung
Nationale Gesundheitsinstitute	Entwicklung von Impfstoffen gegen Infektionskrankheiten	41,7 Milliarden US-Dollar (2023)
CDC-Impfprogramme	Impfstoffforschung und -verteilung	5,3 Milliarden US-Dollar (2023)

Globale Gesundheitsorganisationen

Wichtige Zielsegmente für die Impfstofftechnologien von GeoVax.

• Weltgesundheitsorganisation (WHO)
• Globale Allianz für Impfstoffe und Immunisierung (GAVI)
• Internationale Vertriebsnetze für Impfstoffe

Impfstoffforschungsgemeinschaften

Forschungsgemeinschaft	Fokusbereich	Jährliche Forschungsausgaben
Internationale Impfstoffinstitute	Impfstoffe gegen Infektionskrankheiten	22,6 Millionen US-Dollar
Spezialisierte Impfstoffforschungsnetzwerke	Fortschrittliche Impfstofftechnologien	15,4 Millionen US-Dollar

GeoVax Labs, Inc. (GOVX) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete GeoVax Labs Forschungs- und Entwicklungskosten in Höhe von 7,4 Millionen US-Dollar.

Jahr	F&E-Ausgaben	Prozentsatz der Gesamtausgaben
2022	6,9 Millionen US-Dollar	62.7%
2023	7,4 Millionen US-Dollar	65.3%

Kosten für das Management klinischer Studien

Die Ausgaben für klinische Studien für GeoVax beliefen sich im Jahr 2023 auf insgesamt etwa 3,2 Millionen US-Dollar.

• Kosten für den COVID-19-Impfstoffversuch: 1,5 Millionen US-Dollar
• Kosten für den HIV-Impfstoffversuch: 1,7 Millionen US-Dollar

Aufrechterhaltung des geistigen Eigentums

Die jährlichen Kosten für die Aufrechterhaltung des geistigen Eigentums für GeoVax beliefen sich im Jahr 2023 auf 425.000 US-Dollar.

Gehälter für Personal und wissenschaftliches Personal

Personalkategorie	Durchschnittliches Jahresgehalt	Anzahl der Mitarbeiter
Forschungswissenschaftler	$125,000	18
Klinische Forscher	$110,000	12
Verwaltungspersonal	$75,000	10

Ausgaben für die Einhaltung gesetzlicher Vorschriften und Tests

Die Kosten für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2023 auf 850.000 US-Dollar.

• FDA-Einreichungsgebühren: 250.000 US-Dollar
• Compliance-Dokumentation: 350.000 US-Dollar
• Kosten für externe Prüfung: 250.000 US-Dollar

Gesamtbetriebskosten für 2023: 12,1 Millionen US-Dollar

GeoVax Labs, Inc. (GOVX) – Geschäftsmodell: Einnahmequellen

Mögliche Lizenzvereinbarungen für Impfstoffe

Bis zum Jahr 2024 verfügt GeoVax Labs über keine bestätigten Lizenzvereinbarungen für Impfstoffe, die direkte Einnahmen generieren. Der Hauptfokus des Unternehmens liegt weiterhin auf der Entwicklung von Impfstofftechnologien.

Forschungsstipendien und Finanzierung

Finanzierungsquelle	Betrag	Jahr
National Institutes of Health (NIH)	1,7 Millionen US-Dollar	2023
Agentur für fortgeschrittene Verteidigungsforschungsprojekte (DARPA)	2,3 Millionen US-Dollar	2023

Strategische Partnerschaftskooperationen

Zu den aktuellen strategischen Partnerschaften gehört die Zusammenarbeit mit:

• Emory-Universität
• Georgia Institute of Technology

Mögliche zukünftige Produktkommerzialisierung

GeoVax entwickelt Impfstoffkandidaten für:

• HIV
• Zika-Virus
• COVID-19-Varianten

Lizenzgebühren für geistiges Eigentum

Ab 2024 gilt GeoVax 12 aktive Patente in Impfstofftechnologieplattformen.

Patentkategorie	Anzahl der Patente
Impfstoffplattformen	8
Liefermechanismen	4

GeoVax Labs, Inc. (GOVX) - Canvas Business Model: Value Propositions

You're looking at the core benefits GeoVax Labs, Inc. (GOVX) offers to its customers-governments, public health agencies, and potentially patients-as of late 2025. These aren't just product descriptions; they are the tangible advantages derived from their MVA platform and pipeline assets.

GEO-MVA: U.S.-based, scalable, next-generation Mpox/Smallpox vaccine

The value here is clear: a domestic, next-generation alternative to a constrained global supply. GeoVax Labs, Inc. is advancing GEO-MVA, a Mpox and smallpox vaccine candidate, positioning it as a U.S.-based option amid constrained global supply and the WHO's reaffirmed Public Health Emergency of International Concern (PHEIC) status for Mpox. Clinical vials for GEO-MVA are expected to be available in the Q4 of 2025, supporting the planned start of clinical trials in 2026.

The regulatory pathway itself is a value driver, as favorable Scientific Advice from the European Medicines Agency (EMA) supports moving directly into a single Phase 3 immuno-bridging trial, potentially omitting Phase 1 and Phase 2 steps. This streamlined path accelerates the timeline toward potential market authorization in Europe and positions the product to address a market with an estimated potential at $10B+ worldwide.

GEO-CM04S1: Multi-antigen COVID-19 vaccine for immunocompromised populations

GEO-CM04S1 targets the unmet need for durable protection in vulnerable groups, specifically addressing over 40 million immunocompromised Americans. The vaccine is currently in three Phase 2 clinical trials, evaluating its use as a primary vaccine or a booster. The value proposition is demonstrated by clinical signals showing GEO-CM04S1 elicits strong T-cell responses to both Spike (S) and Nucleocapsid (N) antigens, exceeding responses induced by mRNA boosters in some cohorts.

The safety profile is also a key value point; no vaccine-related serious adverse events have been observed to date. Furthermore, the Chronic Lymphocytic Leukemia (CLL) trial interim analysis achieved its primary immunogenicity endpoint, while the comparator mRNA arm was discontinued.

MVA Platform: Induces broad, durable T-cell and antibody immune responses

The underlying Modified Vaccinia Ankara (MVA) vector platform provides the foundation for the differentiated immune responses seen in the pipeline. The platform's ability to carry multiple antigens is key. For instance, GEO-CM04S1 co-expresses both the Spike (S) and Nucleocapsid (N) antigens. This design supports the demonstration of robust, durable T-cell and cross-variant antibody responses, including activity against Omicron subvariants in preclinical and early clinical data.

Gedeptin: Tumor-targeted immune priming for solid tumors (e.g., head and neck cancer)

For oncology, the value lies in Gedeptin's mechanism as a gene-directed enzyme prodrug therapy (GDEPT) that provides localized intratumoral cytotoxicity while priming systemic immune responses, positioning it as a potential force multiplier for checkpoint inhibitors. The lead indication is advanced head and neck cancer, where a Phase 2 clinical trial, AdPNP-203, is planned to evaluate the addition of intra-tumoral Gedeptin and intravenous fludarabine to neoadjuvant pembrolizumab. The trial initiation is targeted for the second half of 2026, with the primary endpoint set as major pathological response (MPR). Preclinical work is expanding this value proposition into other solid tumors, including triple-negative breast cancer and cutaneous malignancies.

Manufacturing: Advanced process for lower-cost, more flexible MVA production

GeoVax Labs, Inc. is de-risking future supply and enabling global access through manufacturing innovation. The company is advancing a next-generation continuous avian cell line (AGE1) manufacturing platform, designed to replace older egg-based production. This anticipated process offers the potential for more efficient, flexible, and lower-cost MVA-vaccine manufacturing, which specifically enables localized production in low- and middle-income regions. The cGMP drug substance manufacturing for GEO-MVA has been completed.

Here's a quick look at the progress supporting these value propositions as of late 2025:

Program	Key Metric/Status	Target Population/Indication	Key Data Point/Timeline
GEO-MVA	Streamlined Regulatory Pathway	Mpox/Smallpox	Single Phase 3 immuno-bridging trial sufficient for MAA.
GEO-CM04S1	Clinical Differentiation	Immunocompromised Patients	Met primary endpoint in CLL trial; T-cell responses exceeding mRNA boosters.
Gedeptin	Next Trial Planning	Head and Neck Cancer	Phase 2 (AdPNP-203) initiation targeted for 2H 2026.
MVA Platform	Manufacturing Advancement	All MVA-based products	Completed cGMP drug substance manufacturing for GEO-MVA.

The company's cash balance at September 30, 2025, stood at $5,008,997, with a nine-month net loss of $17,046,348. Still, the R&D expense reduction to $5 million in Q3 2025 from $7.4 million in Q3 2024 shows cost discipline alongside pipeline advancement.

The core technological advantages underpinning these value propositions include:

• GEO-MVA: U.S.-based development and manufacturing alignment.
• GEO-CM04S1: Co-expression of Spike (S) and Nucleocapsid (N) antigens.
• MVA Platform: Induces broad, durable T-cell and antibody responses.
• Gedeptin: Combination potential with immune checkpoint inhibitors.
• Manufacturing: Shift to continuous cell line production for scalability.

Finance: review cash burn rate against R&D cadence by end of week.

GeoVax Labs, Inc. (GOVX) - Canvas Business Model: Customer Relationships

You're looking at how GeoVax Labs, Inc. maintains its critical external relationships to drive its pipeline forward, especially given the recent shift in government funding. It's all about targeted, high-value interactions right now.

High-touch engagement with potential pharmaceutical partners for licensing

GeoVax Labs, Inc. is actively pursuing industry partnerships to support the worldwide development, commercialization, and distribution of its product candidates, including GEO-MVA, GEO-CM04S1, and Gedeptin®. Management specifically noted increased engagement with industry partners during the third quarter of 2025. For the Gedeptin oncology program, preclinical studies are expanding into triple-negative breast and cutaneous cancers in collaboration with Emory University's Winship Cancer Institute.

Direct communication with government agencies for biodefense contracts

Direct interaction with government agencies remains a key relationship, though the nature of the revenue stream has changed. The BARDA Project NextGen contract, which generated revenue in prior periods, was terminated for convenience by the government in April 2025. The revenue generated from government contracts in Q2 2025 was $852,282, representing 100% of that quarter's revenue. For the first nine months of 2025, GeoVax Labs, Inc. reported revenues of $2.5 million, a decrease from $3.1 million in the comparable 2024 period, directly reflecting the BARDA contract termination. There were no contract revenues reported during Q3 2025. Still, the company highlights significant governmental interest in a U.S.-based supply chain for its vaccines. The CEO mentioned White House/WHO engagements reinforcing efforts to address global health needs.

Here's a quick look at the contract revenue trend:

Period Ending September 30, 2025	Revenue Amount	Comparison Period	Change
Nine Months Ended	$2.5 million	Nine Months Ended September 30, 2024	Down from $3.1 million
Q2 2025	$852,282	Q2 2024	183.5% growth
Q1 2025	$1.6 million	Q1 2024	Reported government contract revenues

Investor relations consulting to maintain shareholder confidence

Maintaining shareholder confidence involves direct communication, which is reflected in General and Administrative (G&A) spending. G&A expenses for the nine-month period ending September 30, 2025, totaled $4,559,346, up from $3,784,559 in 2024. This increase is attributed in part to higher investor relations consulting costs. For the first quarter of 2025, G&A was $1.7 million, up from $1.5 million in Q1 2024, again citing higher investor relations consulting costs. The cash position at September 30, 2025, stood at $5,008,997, compared to $5,506,941 at December 31, 2024.

Close collaboration with clinical investigators and key opinion leaders

Collaboration with investigators is evident through data presentation at major medical meetings. GeoVax Labs, Inc. presented data confirming the differentiated performance of GEO-CM04S1 at:

• The 6th ESCMID Conference on Vaccines (Lisbon, Portugal)
• The iwCLL 2025 Workshop (Krakow, Poland)
• The World Vaccine Congress
• The Keystone Symposia
• The European Hematology Association

Upcoming presentations for the remainder of 2025 include the International Workshop on chronic lymphocytic leukemia and The European Society of Clinical Microbiology and Infectious Disease. The Phase 2 Gedeptin trial is advancing, with protocol modifications targeting first-line therapy.

Regulatory dialogue with bodies like the EMA for expedited pathways

Dialogue with regulatory bodies is crucial for accelerating time-to-market. GeoVax Labs, Inc. received guidance from the European Medicines Agency (EMA) in June 2025 regarding its GEO-MVA vaccine candidate. This guidance provides an expedited development path. This pathway allows GeoVax Labs, Inc. the potential to bypass Phase I and Phase II clinical trials and proceed directly to a Phase III immuno-bridging trial for GEO-MVA.

Finance: review Q3 2025 G&A spend breakdown by Friday.

GeoVax Labs, Inc. (GOVX) - Canvas Business Model: Channels

You're looking at how GeoVax Labs, Inc. (GOVX) gets its products-vaccines and immunotherapies-to the end-user or market as of late 2025. This involves regulatory navigation, clinical site engagement, and partnership building, all crucial for a clinical-stage biotech.

Out-licensing agreements with large pharmaceutical companies for global distribution

GeoVax Labs, Inc. is actively looking to establish business partnerships and collaborations to support the worldwide development, commercialization, and distribution of its product candidates. The company anticipates entering into favorable manufacturing and distribution agreements as part of its strategy to bring products to market. This remains a key area of focus for 2025 through 2026 milestones.

Direct sales/procurement contracts with national biodefense stockpiles

The company's Modified Vaccinia Ankara (MVA) platform, including GEO-MVA for Mpox and smallpox, is positioned to bolster U.S. biodefense capabilities, aligning with national security objectives. Revenue generation in the first half of 2025, totaling $2.5 million, was entirely driven by government contracts, specifically the now-terminated BARDA Project NextGen award. Revenue reported for Q2 2025 from these contracts was $852,282. GeoVax Labs, Inc. is also actively engaging with stakeholders, including the White House and WHO, regarding the GEO-MVA vaccine, suggesting ongoing governmental interest in procurement channels.

Clinical trial sites and academic medical centers for product evaluation

Product evaluation is channeled through active clinical sites. For the GEO-CM04S1 COVID-19 vaccine, Phase 2 trials continue in patient populations, including those with Chronic Lymphocytic Leukemia (CLL). Regarding GEO-MVA, the path forward involves a single, robustly designed Phase 3 immuno-bridging trial, which is expected to include some African sites to support data generation. The company is focused on advancing GEO-MVA to clinical evaluation readiness, with plans for clinical evaluation of the cGMP batch later in 2025.

Strategic partnerships for commercialization and distribution in specific regions

GeoVax Labs, Inc. plans to actively pursue strategic partnerships with governments, NGOs, and private-sector stakeholders to maximize the impact and reach of its GEO-MVA platform. This is a stated priority for 2025, aiming to secure collaborations for commercialization and distribution across various geographies.

Regulatory filings (e.g., MAA, BLA) to access commercial markets

Access to the European commercial market is being streamlined via the European Medicines Agency (EMA). GeoVax Labs, Inc. received positive Scientific Advice from the EMA in June 2025, supporting a pathway for GEO-MVA to proceed directly to a Phase 3 study and subsequently file for a Marketing Authorization Application (MAA) via the centralized procedure, potentially omitting Phase 1 and Phase 2 trials. The data from the Phase 3 trial, if successful, would be sufficient to support this MAA filing.

The following table summarizes the key product candidates and the channels/regulatory steps relevant to their market access as of late 2025:

Product Candidate	Primary Channel/Regulatory Focus (Late 2025)	Key Metric/Status	Target Market Access Pathway
GEO-MVA (Mpox/Smallpox)	EMA Scientific Advice / Phase 3 Planning	Favorable SA received June 2025; Single Phase 3 trial planned.	Centralized EU MAA
GEO-CM04S1 (COVID-19)	Phase 2 Clinical Trial Sites	Ongoing trials in CLL patients; Data readout expected H1 2025 for booster trial.	U.S. Market (Immunocompromised)
Gedeptin® (Oncology)	Academic/Clinical Partnerships	Preclinical work expanding into triple-negative breast and cutaneous malignancies with Emory University's Winship Cancer Institute.	Future Commercialization via Checkpoint Combinations
Overall Revenue Channel	Government Contracts	H1 2025 Revenue: $2.5 million; Q2 2025 Revenue: $852,282.	Direct Procurement/Grants

The company's cash position at the end of Q3 2025 was $5.0 million, which supports the ongoing operational needs of these channel development activities. The nine-month revenue through September 30, 2025, was $2.5 million.

The path to market for GeoVax Labs, Inc. relies heavily on these external interactions:

• Securing favorable guidance from global regulators like the EMA.
• Engaging with U.S. biodefense agencies for potential procurement.
• Identifying partners for worldwide distribution.
• Completing clinical evaluation at sites, including those in Africa.

Finance: draft 13-week cash view by Friday.

GeoVax Labs, Inc. (GOVX) - Canvas Business Model: Customer Segments

You're looking at the specific groups GeoVax Labs, Inc. (GOVX) is targeting with its pipeline assets as of late 2025. This isn't just about who might buy the product; it's about which specific, high-need patient or governmental groups justify the current research and development spending.

The customer segments are clearly defined by the three main product candidates: GEO-MVA for biodefense, GEO-CM04S1 for vulnerable COVID-19 populations, and Gedeptin® for specific oncology indications. Here's a breakdown of the core groups and the context surrounding them.

GeoVax Labs, Inc. is actively pursuing strategic partnerships with governments, NGOs, and private-sector stakeholders in 2025 to maximize the reach of its GEO-MVA platform. Also, management reported increased partnering and collaboration interest from established industry players.

Here is a summary of the key customer segments and the scale of the opportunity they represent:

Customer Segment Focus	Key Product Candidate	Target Population/Market Context	Relevant Financial/Statistical Data
Government/Biodefense agencies requiring Mpox/Smallpox vaccines	GEO-MVA	U.S. Biodefense Market (Onshoring priorities)	U.S. biodefense market growth projected at $14.36B by 2032. Estimated market potential at $10B+ (as of Q1 2025).
Immunocompromised patients needing better COVID-19 protection	GEO-CM04S1	Patients with hematologic cancers, post-transplant status, and Chronic Lymphocytic Leukemia (CLL)	Addressing unmet needs of over 40 million immunocompromised Americans. Globally, this segment is over 400 million people.
Oncology treatment centers and surgeons targeting solid tumors	Gedeptin®	Patients with Head and Neck Squamous Cell Carcinoma (HNSCC) in neoadjuvant settings	Annual Global Market Opportunity for initial focus estimated at > $15+ Billion.
Global public health organizations addressing infectious disease outbreaks	GEO-MVA	Underserved populations in regions including Africa	Focus on enabling vaccine self-sufficiency manufacturing in low- and middle-income regions such as Africa.
Established pharmaceutical companies seeking MVA platform licenses	GEO-MVA Platform	Industry players interested in licensing or collaboration for development/commercialization	Exploring strategies to fund programs through strategic partnerships.

For the GEO-CM04S1 COVID-19 vaccine, the clinical data itself points to a segment differentiation. In the CLL trial interim analysis, GEO-CM04S1 met its primary endpoint, while the comparator mRNA vaccine did not. That's a clear signal to that specific patient group.

Regarding the GEO-MVA vaccine for Mpox and Smallpox, the company is focused on accelerating regulatory readiness, partly due to the WHO's reaffirmation of Mpox as a global public health emergency, which reinforces the need for additional MVA-based vaccine supply.

The company's financial structure in late 2025 reflects this focus. For the nine months ended September 30, 2025, Research and development expense was $15.1 million, with cash balances at $5.0 million as of September 30, 2025, showing that clinical advancement for these priority programs is the most significant use of cash.

You should track the progress of these specific patient cohorts:

• Immunocompromised patients receiving GEO-CM04S1 as a primary vaccine.
• Patients with Chronic Lymphocytic Leukemia (CLL) receiving GEO-CM04S1 as a booster.
• HNSCC patients targeted for the Gedeptin neoadjuvant combination trial (AdPNP-203).
• Governmental stakeholders interested in U.S.-based supply chains for MVA vaccines.

Finance: draft 13-week cash view by Friday.

GeoVax Labs, Inc. (GOVX) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving GeoVax Labs, Inc.'s operations as of late 2025. For a clinical-stage biotech, the cost structure is heavily weighted toward getting those pipeline assets through trials and ready for the next stage, so R&D dominates the picture.

Here's the quick math on the major operating costs for the first nine months of 2025:

Expense Category	Period Ending September 30, 2025	Comparison Period
Research and Development (R&D) Expense	$15.1 million	$16.1 million in 2024
General and Administrative (G&A) Expense	$4.6 million	$3.8 million in 2024
Cash Balance (as of September 30, 2025)	$5 million	$5.5 million at December 31, 2024

High Research and Development (R&D) expenses, totaling $15.1 million for the first nine months of 2025, represent the largest cost driver. This figure was slightly lower than the $16.1 million reported for the same period in 2024. The decrease in R&D during 2025 is primarily related to discontinued costs associated with the termination of the BARDA contract, along with lower costs for the GEO-CM04S1 clinical trials and associated manufacturing costs for the GEO-CM04S1 and Gedeptin programs.

Clinical trial costs for GEO-CM04S1 and GEO-MVA programs are embedded within that R&D spend. While GEO-CM04S1 trial costs were lower, these savings were partially offset by higher personnel and consulting costs, plus increased manufacturing costs specifically associated with the GEO-MVA development program as the company prepared for initiating clinical trials in 2026. The company's focus remains on advancing these programs, which is the most significant use of cash for the foreseeable future.

General and Administrative (G&A) expenses were at $4.6 million for the first nine months of 2025, up from $3.8 million in 2024. The overall increase during 2025 is associated with higher personnel costs, investor relations consulting, other programmatic expenses, and stock-based compensation expense. For the third quarter alone, G&A was $1.3 million versus $1.2 million in Q3 2024.

Manufacturing scale-up and process development costs are a key component of the R&D outlay. Specifically, manufacturing costs associated with the GEO-CM04S1 and Gedeptin programs saw reductions, but this was counterbalanced by higher manufacturing costs tied to the GEO-MVA development program in preparation for 2026 clinical trials. The company is also advancing progress on its advanced MVA manufacturing process.

Regarding Intellectual property maintenance and legal fees, GeoVax Labs holds worldwide rights for its technologies and product candidates, indicating ongoing costs to maintain this strong IP portfolio. These costs fall under the G&A structure, contributing to the year-to-date increase in that category.

Other relevant cost-related factors include:

• The net loss for the nine-month period ending September 30, 2025, was $17 million.
• Financing transactions offset a significant portion of operating cash use, with $16 million in financing offsetting $16.5 million used in operating activities for the nine-month period.
• The company is actively seeking business partnerships and collaborations to support development and commercialization, which could shift future cost burdens.

GeoVax Labs, Inc. (GOVX) - Canvas Business Model: Revenue Streams

You're looking at how GeoVax Labs, Inc. funds its pipeline, which is heavily reliant on non-sales revenue right now, given its clinical-stage status. Honestly, the revenue picture is dominated by government grants and capital raises as of late 2025.

The most concrete revenue stream currently comes from government contracts. For the nine months ended September 30, 2025, GeoVax Labs, Inc. reported government contract revenues totaling $2,489,145 associated with the BARDA/RRPV Project NextGen award, which compares to $3,090,161 for the same period in 2024. You should note that the government terminated this contract for convenience in April 2025, so this figure reflects revenue recognized before that termination.

The company's financial stability between product sales relies on securing capital through equity markets, which is a key part of the current revenue model. GeoVax Labs, Inc. has been active in raising funds to support operations and development.

Here's a look at recent financing activities that bolster working capital:

• Registered Direct Offering closed on September 30, 2025, expected to yield gross proceeds of approximately $2.5 million.
• Public Offering in July 2025 generated expected gross proceeds of approximately $6 million.
• The company has an stated annual fundraising target of $30 million through equity sales, non-dilutive funding, and collaborations.

As of September 30, 2025, the cash balances stood at $5,008,997.

Future revenue potential is tied directly to clinical success and strategic deals, which is typical for a company at this stage. These potential streams include:

• Future milestone payments derived from strategic development and commercialization partnerships for its vaccine and oncology programs.
• Potential future product sales of GEO-MVA, which is being advanced as an Mpox vaccine with a global market opportunity estimated at over $11 billion.
• Potential future product sales of GEO-CM04S1, the multi-antigen COVID-19 vaccine, targeting specialized medical markets, specifically the over 40 million immunocompromised adults in the U.S. and over 400 million worldwide.

To map out the reliance on financing versus contract revenue, here is a comparison of the two most recent financing events against the nine-month contract revenue:

Revenue/Financing Source	Amount (Approximate)	Timing/Period
Government Contract Revenue	$2,489,145	Nine Months Ended September 30, 2025
Registered Direct Offering (Gross Proceeds)	$2.5 million	September 2025
Public Offering (Gross Proceeds)	$6 million	July 2025

The company continues to explore various strategies to fund development programs through valuation inflection points. Finance: draft 13-week cash view by Friday.