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GeoVax Stops COVID Vaccine Development, Stock Drops 11% to $3.24
GeoVax drops 11% to $3.24 after stopping COVID vaccine development
GeoVax Labs Prioritizes Development of GEO-MVA and Gedeptin
GeoVax Labs announced earlier today a strategic prioritization of its development portfolio to concentrate resources on its lead programs, GEO-MVA and Gedeptin. As part of this decision, the company has elected to discontinue development activities related to its GEO-CM04S1 COVID-19 vaccine candidate. "This decision was not related to any safety concerns with the vaccine but reflects the continued evolution and contraction of the global COVID-19 vaccine market, and GeoVax's focus on programs with clearer regulatory pathways, stronger demand visibility, and more immediate commercialization potential," the company said in a statement. It added, "As GEO-MVA advances toward clinical validation and potential commercialization, and as Gedeptin gains relevance within emerging immuno-oncology treatment paradigms, we are aligning our resources to support focused execution against these high-potential opportunities." GEO-MVA is GeoVax's modified vaccinia ankara vaccine candidate targeting mpox and smallpox, which is advancing under an expedited regulatory pathway supported by European Medicines Agency scientific advice.
GeoVax Labs Files to Sell 7.64M Shares of Common Stock
GeoVax Labs files to sell 7.64M shares of common stock for holders
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