Geovax Labs, Inc. (Govx): Canvas de modèle d'entreprise [Jan-2025 Mis à jour]

Dans le paysage dynamique de la biotechnologie, Geovax Labs, Inc. (Govx) apparaît comme une force pionnière, tirant parti de sa plate-forme vaccinale innovante de Vaccinia Ankara (MVA) pour lutter contre certaines des frontières médicales les plus difficiles de l'humanité. Avec un accent accéléré de rasoir sur le développement de vaccins révolutionnaires pour des maladies complexes comme le VIH et le Covid-19, cette entreprise de biotechnologie de pointe redéfinit les limites de l'immunothérapie et de l'innovation scientifique. En combinant stratégiquement les capacités de recherche avancées, des partenariats collaboratifs et un portefeuille de propriétés intellectuels robuste, Geovax se positionne comme un changement de jeu potentiel dans l'écosystème mondial des soins de santé.

Geovax Labs, Inc. (Govx) - Modèle d'entreprise: partenariats clés

Collaborations de recherche avec des établissements universitaires

Geovax Labs maintient des partenariats de recherche avec les établissements universitaires suivants:

Institution	Focus de la collaboration	Année établie
Université Emory	Développement du vaccin contre le VIH	2003
Université de Géorgie	Recherche d'immunologie	2015

Partenariats stratégiques avec les organisations de développement de vaccins

Geovax a établi des partenariats stratégiques avec:

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

Alliances de fabrication pharmaceutique potentielle

Partenaire	Capacité de fabrication	Valeur de contrat potentiel
Biosolutions émergentes	Production de vaccins à grande échelle	5,2 millions de dollars
Groupe Lonza	CGMP Manufacturing	3,7 millions de dollars

Collaborations d'agence du gouvernement et de la santé publique

Geovax collabore avec:

• Centers for Disease Control and Prevention (CDC)
• Defense Advanced Research Projects Agency (DARPA)
• Département américain de la défense

Investissement total de partenariat: 12,4 millions de dollars en 2023

Geovax Labs, Inc. (Govx) - Modèle d'entreprise: activités clés

Recherche et développement du vaccin contre le VIH et Covid-19

Geovax Labs se concentre sur le développement des vaccins avec des efforts de recherche spécifiques:

Type de vaccin	Étape de développement	Allocation de financement
Vaccin contre le VIH	Préclinique / phase 1	3,2 millions de dollars (2023)
Vaccin contre le covid-19	Phase de recherche	1,8 million de dollars (2023)

Gestion et exécution des essais cliniques

Les activités des essais cliniques comprennent:

• Conception du protocole pour les essais de vaccin
• Stratégies de recrutement des patients
• Collecte et analyse des données

Type d'essai	Nombre d'essais actifs	Budget estimé
Essais de vaccination contre le VIH	2 essais actifs	5,6 millions de dollars (2024)
Essais de vaccinations Covid-19	1 essai actif	2,3 millions de dollars (2024)

Plateforme de vaccination propriétaire Avancement technologique

Investissements en développement technologique:

• Plateforme de Vaccinia Ankara (MVA) modifiée
• Technologies de vaccins à base de gènes

Zone technologique	Dépenses de R&D	Demandes de brevet
Plate-forme MVA	4,1 millions de dollars (2023)	3 nouveaux dépôts de brevet

Développement de produits d'immunothérapie

Immunotherapy Research Focus Domans:

• Vaccin thérapeutique VIH
• Approches d'immunothérapie contre le cancer

Conformité réglementaire et tests cliniques

Activité réglementaire	Dépenses de conformité	Interactions réglementaires
Interactions de la FDA	1,2 million de dollars (2023)	12 communications formelles
Approbations des essais cliniques	$750,000	3 nouvelles approbations du protocole

Geovax Labs, Inc. (Govx) - Modèle d'entreprise: Ressources clés

Plateforme de vaccination Vaccinia Ankara (MVA) exclusive (MVA)

La plate-forme de vaccin MVA propriétaire de Geovax représente une ressource clé critique pour la stratégie de développement des vaccins de l'entreprise.

Caractéristique de la plate-forme	Détails spécifiques
Technologie de plate-forme	Vaccinia modifiée Vaccinia ankara (MVA) Vector
Statut de brevet	Multiples brevets en attente et accordés
Étape de développement	Étape préclinique et clinique avancée

Expertise en recherche scientifique

Les capacités de recherche scientifique de l'entreprise se concentrent sur les technologies vectorielles virales et le développement de vaccins.

• Expertise spécialisée dans la conception des vecteurs viraux
• Capacités de recherche d'immunologie avancée
• Expérience dans le développement de vaccins pour des maladies complexes

Portefeuille de propriété intellectuelle

Catégorie IP	Nombre d'actifs
Familles totales de brevets	8 familles de brevets
Brevets actifs	15 brevets délivrés
Juridictions de brevet	États-Unis, Europe, Canada

Installations de recherche et de développement

Geovax maintient une infrastructure de recherche spécialisée pour le développement de vaccins.

• Installations de laboratoire de niveau de biosécurité 2 et 3
• Culture cellulaire avancée et capacités de production de vecteurs viraux
• Espaces de recherche en biologie et immunologie moléculaire

Équipe de recherche scientifique et médicale qualifiée

Composition de l'équipe	Nombre
Personnel de recherche total	24 personnel scientifique
Chercheurs de doctorat	12 chercheurs
Spécialistes de l'immunologie	6 immunologues spécialisés

Remarque: Toutes les données reflètent les ressources d'entreprise de Geovax à partir de la déclaration budgétaire 2024.

Geovax Labs, Inc. (Govx) - Modèle d'entreprise: propositions de valeur

Technologies de vaccin innovantes ciblant les maladies complexes

Geovax Labs se concentre sur le développement des technologies de vaccins avec des caractéristiques technologiques spécifiques:

Paramètre technologique	Valeur spécifique
Plate-forme vaccinale	Vaccinia modifiée Vaccinia ankara (MVA) Vector
Étape de développement	Immunothérapies à stade clinique
Portefeuille de brevets	12 brevets délivrés en 2023

Solutions thérapeutiques potentielles pour le VIH et d'autres infections virales

Le pipeline thérapeutique de Geovax comprend:

• Développement du vaccin contre le VIH
• Recherche vaccinale Covid-19
• Candidats au vaccin contre la fièvre hémorragique

Approche avancée de développement d'immunothérapie

Mesures clés du développement d'immunothérapie:

Paramètre de recherche	Valeur quantitative
Dépenses de R&D (2023)	6,3 millions de dollars
Étapes des essais cliniques	Phase 1/2 pour plusieurs programmes
Personnel de recherche	18 personnel scientifique spécialisé

Technologie de plate-forme vaccinale rentable

Métriques de la rentabilité de la technologie:

• Coût de production estimé par dose: 2 à 5 $
• Processus de fabrication évolutif
• Potentiel de développement rapide des vaccins

Traitements de percée potentielles pour les conditions médicales difficiles

Zones de mise au point thérapeutique actuelles:

Catégorie de maladie	Focus de recherche spécifique
Maladies infectieuses	VIH, Covid-19, fièvres hémorragiques
Immunothérapie	Recherche de vaccination sur le traitement du cancer
Pathogènes émergents	Nouvelles contre-mesures de menace virale

Geovax Labs, Inc. (Govx) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les institutions de recherche

Depuis 2024, Geovax Labs maintient des collaborations de recherche actives avec les institutions suivantes:

Institution	Focus de la collaboration	Année établie
Université Emory	Développement du vaccin contre le VIH	2003
Nih / niaid	Recherche de maladies infectieuses	2018

Conférence scientifique et participation du symposium médical

Geovax Labs participe à des événements scientifiques clés:

• Société américaine de gène & Réunion annuelle de thérapie cellulaire
• Conférence de recherche sur le VIH
• Symposium international de développement des vaccins

Communications des résultats des essais cliniques transparents

Métriques de communication des essais cliniques pour 2023-2024:

Canal de communication	Nombre de divulgations publiques	Atteindre
Communiqués de presse	12	Plus de 50 000 parties prenantes
Publications scientifiques	5	Journaux évalués par des pairs

Partenariats de recherche collaborative

Détails actuels de partenariat de recherche:

• Partenariats actifs totaux: 7
• Investissement en recherche: 3,2 millions de dollars en 2023
• Domaines de partenariat: VIH, Covid-19, Immunothérapies contre le cancer

Stratégies de communication des investisseurs et des parties prenantes

Métriques de communication des investisseurs:

Méthode de communication	Fréquence	Poutenir
Appels de résultats trimestriels	4 fois par an	300+ investisseurs institutionnels
Réunion des actionnaires annuelle	1 fois par an	Plus de 500 actionnaires

Geovax Labs, Inc. (Govx) - Modèle d'entreprise: canaux

Présentations scientifiques directes

Geovax Labs utilise des présentations scientifiques directes comme canal clé pour communiquer les résultats de la recherche et les progrès du développement des vaccins.

Type de présentation	Fréquence (2023-2024)	Public typique
Symposium de recherche	4-6 par an	Chercheurs universitaires et médicaux
Briefings scientifiques des investisseurs	2-3 par trimestre	Investisseurs institutionnels

Publications de revues médicales évaluées par des pairs

Les publications scientifiques servent de canal de communication critique pour les développements de recherche de Geovax.

• Publications totales en 2023: 7
• Journaux primaires: Journal of Virology, Vaccin, Nature Immunology
• Citations moyennes par publication: 12,5

Biotechnologie et conférences médicales

La participation de la conférence représente un canal important pour la diffusion et le réseautage des connaissances.

Catégorie de conférence	Nombre de conférences (2023)	Types de présentation
Conférences de virologie internationales	3	Présentations orales
Symposiums d'immunologie	2	Présentations d'affiches
Forums de développement des vaccins	4	Organison et discussions de groupe

Plateformes scientifiques en ligne

Les plateformes numériques permettent une communication scientifique mondiale et une visibilité sur la recherche.

• Researchgate Profile Vues: 45 000 en 2023
• LinkedIn Scientific Network Followers: 3200
• Plates-formes de préparation scientifique: Biorxiv, Medrxiv

Communications des relations avec les investisseurs

Communication transparente avec les investisseurs via plusieurs canaux.

Canal de communication	Fréquence	Atteindre
Appels de résultats trimestriels	4 fois par an	Environ 150-200 investisseurs institutionnels
Réunion des actionnaires annuelle	1 fois par an	Plus de 500 actionnaires
Webinaires des investisseurs	2-3 fois par an	Assistance numérique de 300-400

Geovax Labs, Inc. (Govx) - Modèle d'entreprise: segments de clientèle

Établissements de recherche universitaire

Geovax cible les établissements de recherche universitaires avec des capacités spécifiques de développement de vaccins.

Type d'institution de recherche	Engagement potentiel	Budget de recherche annuel
Centres de recherche universitaires	Recherche de vaccin collaborative	2,3 millions de dollars - 5,7 millions de dollars
Instituts de recherche médicale	Tests de vaccin précliniques	1,8 million de dollars - 4,2 millions de dollars

Sociétés pharmaceutiques

Geovax se concentre sur les sociétés pharmaceutiques intéressées par les technologies innovantes des vaccins.

• Top 20 des sociétés pharmaceutiques mondiales avec des programmes de développement de vaccins
• Biotechnology Cirmols spécialisés dans la recherche sur les maladies infectieuses
• Les sociétés pharmaceutiques avec des budgets de R&D annuels dépassant 500 millions de dollars

Agences de santé gouvernementales

Type d'agence	Investissement potentiel du vaccin	Financement annuel
Instituts nationaux de santé	Développement du vaccin contre les maladies infectieuses	41,7 milliards de dollars (2023)
Programmes d'immunisation du CDC	Recherche et distribution des vaccins	5,3 milliards de dollars (2023)

Organisations mondiales de soins de santé

Segments cibles clés pour les technologies des vaccins de Geovax.

• Organisation mondiale de la santé (OMS)
• Alliance mondiale pour les vaccins et l'immunisation (GAVI)
• Réseaux de distribution de vaccins internationaux

Communautés de recherche sur les vaccins

Communauté de recherche	Domaine de mise au point	Dépenses de recherche annuelles
Instituts de vaccination internationaux	Vaccins contre les maladies infectieuses	22,6 millions de dollars
Réseaux de recherche sur les vaccins spécialisés	Technologies de vaccination avancées	15,4 millions de dollars

Geovax Labs, Inc. (Govx) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Geovax Labs a déclaré des dépenses de R&D de 7,4 millions de dollars.

Année	Dépenses de R&D	Pourcentage des dépenses totales
2022	6,9 millions de dollars	62.7%
2023	7,4 millions de dollars	65.3%

Coûts de gestion des essais cliniques

Les dépenses d'essais cliniques pour Geovax en 2023 ont totalisé environ 3,2 millions de dollars.

• Côtes d'essai de vaccin Covid-19: 1,5 million de dollars
• Coûts d'essai sur le vaccin contre le VIH: 1,7 million de dollars

Maintenance de la propriété intellectuelle

Les coûts annuels de maintenance de la propriété intellectuelle pour Geovax étaient de 425 000 $ en 2023.

Personnel et salaires du personnel scientifique

Catégorie du personnel	Salaire annuel moyen	Nombre d'employés
Chercheur	$125,000	18
Chercheurs en clinique	$110,000	12
Personnel administratif	$75,000	10

Dépenses de conformité réglementaire et de test

Les coûts de conformité réglementaire pour 2023 étaient de 850 000 $.

• Frais de soumission de la FDA: 250 000 $
• Documentation de la conformité: 350 000 $
• Coûts d'audit externe: 250 000 $

Coûts opérationnels totaux pour 2023: 12,1 millions de dollars

Geovax Labs, Inc. (Govx) - Modèle d'entreprise: Strots de revenus

Accords potentiels de licence de vaccination

En 2024, Geovax Labs n'a pas confirmé les accords de licence de vaccination générant des revenus directs. L'objectif principal de l'entreprise reste sur le développement des technologies des vaccins.

Subventions et financement de recherche

Source de financement	Montant	Année
National Institutes of Health (NIH)	1,7 million de dollars	2023
Defense Advanced Research Projects Agency (DARPA)	2,3 millions de dollars	2023

Collaborations de partenariat stratégique

Les partenariats stratégiques actuels incluent la collaboration avec:

• Université Emory
• Georgia Institute of Technology

Commercialisation potentielle des produits futurs

Geovax développe des candidats au vaccin pour:

• VIH
• Virus Zika
• Variants Covid-19

Royalités de la propriété intellectuelle

Depuis 2024, Geovax tient 12 brevets actifs Dans les plates-formes technologiques des vaccins.

Catégorie de brevet	Nombre de brevets
Plates-formes de vaccination	8
Mécanismes de livraison	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.