GeoVax adjourns Special Meeting due to low quorum

Smyrna, Georgia-based pharmaceutical company GeoVax Labs, Inc. (NASDAQ:GOVX), currently trading at $2.24 with a market capitalization of $21.56 million, announced today that it has adjourned its Special Meeting of Stockholders due to insufficient quorum. The meeting, initially convened on September 17, 2024, was reconvened and subsequently adjourned on Wednesday without any business being conducted.

The company disclosed that proxies had been submitted by stockholders representing approximately 32.2% of the shares entitled to vote, falling short of the required majority. GeoVax has decided to keep the polls open and is set to reconvene the Special Meeting on January 22, 2025, at 8:30 a.m. Eastern Time.

Stockholders are being given additional time to vote on the proposals outlined in the proxy statement filed with the Securities and Exchange Commission on August 1, 2024. There have been no changes to the proposals that will be voted on at the reconvened meeting.

Stockholders who have already submitted a proxy or voted do not need to take any further action for their votes to be counted at the January meeting, unless they decide to properly revoke their previous submissions.

GeoVax Labs, Inc. is a biotechnology company listed on The Nasdaq Capital Market under the trading symbols NASDAQ:GOVX for its common stock and NASDAQ:GOVXW for its warrants to purchase common stock. The company is incorporated in Delaware and operates with a focus on developing vaccines and pharmaceutical preparations.

In other recent news, GeoVax Labs, Inc. has made significant strides in its clinical programs and financial results. The biotech firm announced interim findings from a Phase 2 clinical trial of its COVID-19 vaccine, GEO-CM04S1, designed as a booster for chronic lymphocytic leukemia patients. The Data Safety Monitoring Board recommended the continuation of the trial after promising early results.

The company also reported an increase in Q3 revenues to $2.8 million and has regained compliance with the Nasdaq Capital Market's minimum stockholders’ equity requirement.

GeoVax has been awarded a $400 million BARDA Project NextGen contract for a large-scale COVID-19 vaccine trial and has initiated a Phase 2 trial for its cancer therapy, Gedeptin®. The company expects to receive approximately $3 million per quarter from the BARDA contract until 2026. GeoVax is also in talks with regulators about expedited pathways for its Mpox vaccines.

These recent developments are part of GeoVax's broader research efforts, which include ongoing Phase 2 trials assessing GEO-CM04S1 as a primary vaccine for immunocompromised patients and as a durable booster for individuals previously vaccinated with mRNA vaccines.

The company is also developing therapies for solid tumor cancers and plans to initiate a Phase 2 trial for Gedeptin® therapy in first recurrent head and neck cancer during the first half of 2025.

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