Geovax Labs, Inc. (Govx): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário dinâmico da biotecnologia, a Geovax Labs, Inc. (GOVX) surge como uma força pioneira, alavancando sua plataforma inovadora de vacina Vaccinia Ancara (MVA) modificada para enfrentar algumas das fronteiras médicas mais desafiadoras da humanidade. Com um foco nítido no desenvolvimento de vacinas inovadoras para doenças complexas como HIV e Covid-19, esta empresa de biotecnologia de ponta está redefinindo os limites da imunoterapia e da inovação científica. Ao combinar estrategicamente recursos de pesquisa avançada, parcerias colaborativas e um portfólio de propriedade intelectual robusta, a Geovax está se posicionando como um potencial divisor de jogos no ecossistema global de saúde.

Geovax Labs, Inc. (Govx) - Modelo de negócios: Parcerias -chave

Colaborações de pesquisa com instituições acadêmicas

A Geovax Labs mantém parcerias de pesquisa com as seguintes instituições acadêmicas:

Instituição	Foco de colaboração	Ano estabelecido
Universidade Emory	Desenvolvimento da vacina contra o HIV	2003
Universidade da Geórgia	Pesquisa de imunologia	2015

Parcerias estratégicas com organizações de desenvolvimento de vacinas

Geovax estabeleceu parcerias estratégicas com:

• Institutos Nacionais de Saúde (NIH)
• Conta & Melinda Gates Foundation
• Instituto de Pesquisa do Exército de Walter Reed

Potenciais alianças de fabricação farmacêutica

Parceiro	Capacidade de fabricação	Valor potencial do contrato
Biosoluções emergentes	Produção de vacinas em larga escala	US $ 5,2 milhões
Grupo Lonza	Fabricação CGMP	US $ 3,7 milhões

Colaborações do governo e da agência de saúde pública

Geovax colabora com:

• Centros de Controle e Prevenção de Doenças (CDC)
• Agência de Projetos de Pesquisa Avançada de Defesa (DARPA)
• Departamento de Defesa dos EUA

Investimento total de parceria: US $ 12,4 milhões em 2023

Geovax Labs, Inc. (GOVX) - Modelo de negócios: Atividades -chave

Pesquisa e Desenvolvimento de Vacinas HIV e Covid-19

O Geovax Labs se concentra no desenvolvimento da vacina com esforços de pesquisa específicos:

Tipo de vacina	Estágio de desenvolvimento	Alocação de financiamento
Vacina do HIV	Pré -clínico/Fase 1	US $ 3,2 milhões (2023)
Vacina para o covid-19	Fase de pesquisa	US $ 1,8 milhão (2023)

Gerenciamento e execução de ensaios clínicos

As atividades de ensaios clínicos incluem:

• Projeto de protocolo para ensaios de vacinas
• Estratégias de recrutamento de pacientes
• Coleta e análise de dados

Tipo de teste	Número de ensaios ativos	Orçamento estimado
Ensaios de vacina contra o HIV	2 ensaios ativos	US $ 5,6 milhões (2024)
Ensaios de vacinas covid-19	1 teste ativo	US $ 2,3 milhões (2024)

Avanço de tecnologia da plataforma de vacina proprietária

Investimentos de desenvolvimento de tecnologia:

• Plataforma Modificada Vaccinia Ancara (MVA)
• Tecnologias de vacinas baseadas em genes

Área de tecnologia	Despesas de P&D	Aplicações de patentes
Plataforma MVA	US $ 4,1 milhões (2023)	3 novos registros de patentes

Desenvolvimento de produtos de imunoterapia

Áreas de foco em pesquisa de imunoterapia:

• Vacina terapêutica do HIV
• Abordagens de imunoterapia ao câncer

Conformidade regulatória e teste clínico

Atividade regulatória	Gasto de conformidade	Interações regulatórias
Interações FDA	US $ 1,2 milhão (2023)	12 comunicações formais
Aprovações de ensaios clínicos	$750,000	3 novas aprovações de protocolo

Geovax Labs, Inc. (Govx) - Modelo de negócios: Recursos -chave

Plataforma de vacina Modified Vaccinia Ancara (MVA)

A plataforma de vacina MVA proprietária da Geovax representa um recurso -chave crítico para a estratégia de desenvolvimento de vacinas da empresa.

Característica da plataforma	Detalhes específicos
Tecnologia da plataforma	Vector viral de Vaccinia Ancara (MVA) modificado
Status de patente	Múltiplas patentes pendentes e concedidas
Estágio de desenvolvimento	Estágio pré -clínico e clínico avançado

Experiência em pesquisa científica

Os recursos de pesquisa científica da empresa se concentram nas tecnologias de vetores virais e no desenvolvimento da vacina.

• Experiência especializada em design de vetores virais
• Capacidades avançadas de pesquisa de imunologia
• Experiência no desenvolvimento de vacinas para doenças complexas

Portfólio de propriedade intelectual

Categoria IP	Número de ativos
Total de famílias de patentes	8 famílias de patentes
Patentes ativas	15 patentes emitidas
Jurisdições de patentes	Estados Unidos, Europa, Canadá

Instalações de pesquisa e desenvolvimento

O Geovax mantém infraestrutura de pesquisa especializada para o desenvolvimento da vacina.

• Instalações de laboratório de nível 2 e 3 de biossegurança
• Cultura de células avançadas e recursos de produção de vetores virais
• Biologia molecular e espaços de pesquisa de imunologia

Equipe de pesquisa científica e médica qualificada

Composição da equipe	Número
Pessoal de pesquisa total	24 funcionários científicos
Pesquisadores de nível de doutorado	12 pesquisadores
Especialistas em imunologia	6 imunologistas especializados

Nota: Todos os dados refletem os recursos corporativos da Geovax a partir de 2024 relatórios fiscais.

Geovax Labs, Inc. (Govx) - Modelo de negócios: proposições de valor

Tecnologias inovadoras de vacinas direcionadas a doenças complexas

A Geovax Labs se concentra no desenvolvimento de tecnologias de vacinas com características tecnológicas específicas:

Parâmetro de tecnologia	Valor específico
Plataforma de vacina	Vector viral de Vaccinia Ancara (MVA) modificado
Estágio de desenvolvimento	Imunoterapias em estágio clínico
Portfólio de patentes	12 patentes emitidas a partir de 2023

Potenciais soluções terapêuticas para HIV e outras infecções virais

O oleoduto terapêutico de Geovax inclui:

• Desenvolvimento da vacina contra o HIV
• Pesquisa de vacinas Covid-19
• Candidatos a vacinas contra febre hemorrágica

Abordagem avançada de desenvolvimento de imunoterapia

Métricas importantes de desenvolvimento de imunoterapia:

Parâmetro de pesquisa	Valor quantitativo
Despesas de P&D (2023)	US $ 6,3 milhões
Estágios de ensaios clínicos	Fase 1/2 para vários programas
Pessoal de pesquisa	18 funcionários científicos especializados

Tecnologia de plataforma de vacina econômica

Métricas de eficiência de custo da tecnologia:

• Custo estimado de produção por dose: US $ 2- $ 5
• Processo de fabricação escalável
• Potencial para desenvolvimento rápido de vacinas

Possíveis tratamentos inovadores para desafiar condições médicas

Áreas de foco terapêuticas atuais:

Categoria de doença	Foco em pesquisa específica
Doenças infecciosas	HIV, Covid-19, febre hemorrágica
Imunoterapia	Pesquisa de vacinas para tratamento de câncer
Patógenos emergentes	Novas contramedidas de ameaças virais

Geovax Labs, Inc. (Govx) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com instituições de pesquisa

A partir de 2024, a Geovax Labs mantém colaborações de pesquisa ativa com as seguintes instituições:

Instituição	Foco de colaboração	Ano estabelecido
Universidade Emory	Desenvolvimento da vacina contra o HIV	2003
NIH/NIAID	Pesquisa de doenças infecciosas	2018

Conferência Científica e Participação do Simpósio Médico

O Geovax Labs participa de eventos científicos -chave:

• Sociedade Americana de Gene & Reunião anual de terapia celular
• Conferência de Pesquisa do HIV
• Simpósio Internacional de Desenvolvimento de Vacinas

Comunicações do resultado do ensaio clínico transparentes

Métricas de comunicação de ensaios clínicos para 2023-2024:

Canal de comunicação	Número de divulgações públicas	Alcançar
Comunicados de imprensa	12	Mais de 50.000 partes interessadas
Publicações científicas	5	Revistas revisadas por pares

Parcerias de pesquisa colaborativa

Detalhes da parceria de pesquisa atual:

• Total de parcerias ativas: 7
• Investimento de pesquisa: US $ 3,2 milhões em 2023
• Áreas de parceria: HIV, Covid-19, imunoterapias contra o câncer

Estratégias de comunicação de investidores e partes interessadas

Métricas de comunicação de investidores:

Método de comunicação	Freqüência	Alcance do público
Chamadas de ganhos trimestrais	4 vezes por ano	Mais de 300 investidores institucionais
Reunião Anual dos Acionistas	1 tempo por ano	500 mais de acionistas

Geovax Labs, Inc. (Govx) - Modelo de Negócios: Canais

Apresentações científicas diretas

A Geovax Labs utiliza apresentações científicas diretas como um canal -chave para comunicar os resultados da pesquisa e o progresso do desenvolvimento da vacina.

Tipo de apresentação	Frequência (2023-2024)	Público típico
Simpósios de pesquisa	4-6 por ano	Pesquisadores acadêmicos e médicos
Investidores Scientific Briefings	2-3 por trimestre	Investidores institucionais

Publicações de revistas médicas revisadas por pares

As publicações científicas servem como um canal de comunicação crítico para os desenvolvimentos de pesquisa da Geovax.

• Total de publicações em 2023: 7
• Revistas primárias: Journal of Virology, Vaccine, Nature Immunology
• Citações médias por publicação: 12.5

Biotecnologia e conferências médicas

A participação na conferência representa um canal significativo para disseminação e rede de conhecimento.

Categoria de conferência	Número de conferências (2023)	Tipos de apresentação
Conferências Internacionais de Virologia	3	Apresentações orais
Simpósios de imunologia	2	Apresentações de pôsteres
Fóruns de Desenvolvimento de Vacinas	4	Palestras e painéis de discussão

Plataformas científicas online

As plataformas digitais permitem comunicação científica global e visibilidade de pesquisa.

• Pesquisa Profile Visualizações: 45.000 em 2023
• LinkedIn Scientific Network seguidores: 3.200
• Plataformas de pré -impressão científica: Biorxiv, Medrxiv

Comunicações de Relações com Investidores

Comunicação transparente com os investidores por meio de vários canais.

Canal de comunicação	Freqüência	Alcançar
Chamadas de ganhos trimestrais	4 vezes por ano	Aproximadamente 150-200 investidores institucionais
Reunião Anual dos Acionistas	1 tempo por ano	Mais de 500 acionistas
Webinars de investidores	2-3 vezes por ano	Atendimento digital de 300-400

Geovax Labs, Inc. (Govx) - Modelo de negócios: segmentos de clientes

Instituições de pesquisa acadêmica

A Geovax tem como alvo instituições de pesquisa acadêmica com recursos específicos de desenvolvimento de vacinas.

Tipo de instituição de pesquisa	Potencial engajamento	Orçamento de pesquisa anual
Centros de Pesquisa Universitária	Pesquisa de vacina colaborativa	US $ 2,3 milhões - US $ 5,7 milhões
Institutos de pesquisa médica	Teste de vacina pré -clínica	US $ 1,8 milhão - US $ 4,2 milhões

Empresas farmacêuticas

A Geovax se concentra em empresas farmacêuticas interessadas em tecnologias inovadoras de vacinas.

• As 20 principais empresas farmacêuticas globais com programas de desenvolvimento de vacinas
• Empresas de biotecnologia especializadas em pesquisa de doenças infecciosas
• Empresas farmacêuticas com orçamentos anuais de P&D superiores a US $ 500 milhões

Agências de saúde do governo

Tipo de agência	Potencial investimento de vacina	Financiamento anual
Institutos Nacionais de Saúde	Desenvolvimento de vacinas contra doenças infecciosas	US $ 41,7 bilhões (2023)
Programas de imunização do CDC	Pesquisa e distribuição de vacinas	US $ 5,3 bilhões (2023)

Organizações globais de saúde

Principais segmentos de destino para as tecnologias de vacinas da Geovax.

• Organização Mundial da Saúde (OMS)
• Aliança Global para Vacinas e Imunização (GAVI)
• Redes internacionais de distribuição de vacinas

Comunidades de pesquisa de vacinas

Comunidade de pesquisa	Área de foco	Gastos anuais de pesquisa
Institutos Internacionais de Vacinas	Vacinas de doenças infecciosas	US $ 22,6 milhões
Redes especializadas de pesquisa de vacinas	Tecnologias avançadas de vacinas	US $ 15,4 milhões

Geovax Labs, Inc. (Govx) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Geovax Labs registrou despesas de P&D de US $ 7,4 milhões.

Ano	Despesas de P&D	Porcentagem do total de despesas
2022	US $ 6,9 milhões	62.7%
2023	US $ 7,4 milhões	65.3%

Custos de gerenciamento de ensaios clínicos

As despesas de ensaios clínicos para Geovax em 2023 totalizaram aproximadamente US $ 3,2 milhões.

• Custos de teste de vacinas covid-19: US $ 1,5 milhão
• Custos de teste de vacina contra o HIV: US $ 1,7 milhão

Manutenção da propriedade intelectual

Os custos anuais de manutenção da propriedade intelectual para Geovax foram de US $ 425.000 em 2023.

Salários de pessoal e funcionários científicos

Categoria de pessoal	Salário médio anual	Número de funcionários
Cientistas de pesquisa	$125,000	18
Pesquisadores clínicos	$110,000	12
Equipe administrativo	$75,000	10

Despesas regulatórias de conformidade e teste

Os custos de conformidade regulatórios para 2023 foram de US $ 850.000.

• Taxas de envio da FDA: US $ 250.000
• Documentação de conformidade: US $ 350.000
• Custos de auditoria externa: US $ 250.000

Custos operacionais totais para 2023: US $ 12,1 milhões

Geovax Labs, Inc. (GOVX) - Modelo de negócios: fluxos de receita

Potenciais acordos de licenciamento de vacinas

A partir de 2024, a Geovax Labs não possui acordos de licenciamento de vacinas confirmados que gerem receita direta. O foco principal da empresa permanece no desenvolvimento de tecnologias de vacinas.

Bolsas de pesquisa e financiamento

Fonte de financiamento	Quantia	Ano
Institutos Nacionais de Saúde (NIH)	US $ 1,7 milhão	2023
Agência de Projetos de Pesquisa Avançada de Defesa (DARPA)	US $ 2,3 milhões	2023

Colaborações de parceria estratégica

As parcerias estratégicas atuais incluem a colaboração com:

• Universidade Emory
• Instituto de Tecnologia da Geórgia

Potencial comercialização futura de produtos

Geovax está desenvolvendo candidatos a vacinas para:

• HIV
• Vírus zika
• Covid-19 variantes

Royalties de propriedade intelectual

A partir de 2024, Geovax detém 12 patentes ativas em plataformas de tecnologia de vacinas.

Categoria de patentes	Número de patentes
Plataformas de vacina	8
Mecanismos de entrega	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.