GeoVax Labs (NASDAQ: GOVX) is a clinical-stage biotechnology company that develops vaccines and immunotherapies for infectious diseases and cancer. The company has generated no product revenue to date; its limited funding has come from government grants and research collaborations, which have not covered operating expenses. GeoVax reported a net loss of approximately $21.5 million for the year ended December 31, 2025, and has received a going concern opinion from its independent auditors. Lead programs include GEO-MVA, an MVA-based vaccine candidate for mpox and smallpox advancing toward a pivotal Phase 3 trial planned for the second half of 2026; GEO-CM04S1, a COVID-19 vaccine in two Phase 2 clinical trials; and Gedeptin, a gene-directed enzyme prodrug therapy for solid tumors with a Phase 2 trial in squamous cell head and neck cancer planned for the first half of 2027. CEO David A. Dodd has served as President and Chief Executive Officer as of the April 15, 2026 filing date.

Revenue model

No product revenue as of the year ended December 31, 2025. Funding has come from government grants, including a BARDA development award through the Rapid Response Partnership Vehicle, which was terminated for convenience on April 11, 2025. The company relies on equity issuances to fund operations.

Products and services

GEO-MVA: MVA-based vaccine candidate for mpox and smallpox, advancing under an expedited regulatory pathway in Europe with a pivotal Phase 3 trial planned for the second half of 2026. GEO-CM04S1: next-generation COVID-19 vaccine in Phase 2 clinical trials, including evaluation as a heterologous booster and in immunocompromised patients with chronic lymphocytic leukemia. Gedeptin: gene-directed enzyme prodrug therapy for solid tumors, completed a Phase 1/2 trial for advanced head and neck cancers, with a Phase 2 combination trial planned for the first half of 2027. GeoVax is also developing a continuous avian cell line manufacturing platform for scalable MVA-based vaccine production.

Customers and end markets

End markets include civilian public health, biodefense preparedness, and oncology. Government agencies, specifically BARDA via the RRPV consortium, have been a funding source, though that contract was terminated in April 2025. No commercial customers as of the year ended December 31, 2025.

Value-chain role

Early-stage drug developer. GeoVax conducts preclinical research, sponsors and runs clinical trials, and is developing its own manufacturing platform. The company has no commercial products and has not yet reached regulatory approval for any candidate.

Geographic exposure

GEO-MVA is advancing under an expedited regulatory pathway in Europe. Clinical trials are ongoing in the United States. No commercial geographic revenue mix is disclosed given no product revenue.

Source: SEC 10-K, filed 2026-04-15

Industry: Pharmaceutical Preparations Peers: Elevation Oncology, Inc. Forum Markets, Inc Aptinyx Inc. eFFECTOR Therapeutics, Inc. Oragenics Inc Regulus Therapeutics Inc. Tonix Pharmaceuticals Holding Corp TREVENA INC