GeoVax Labs, Inc. (NASDAQ: GOVX) shares have observed a notable rise following the award of a substantial trial contract. During the pre-market session, GOVX shares surged by 8.42%, reaching $2.06, building on a previous session's impressive increase of 69.64%, which closed at $1.90.
Table of Contents
Toggle- Finances For The Clinical Trial
- Innovative Vaccine Development
Finances For The Clinical Trial
The funding from the Rapid Response Partnership Vehicle, or RRPV, will help develop GeoVax's (GOVX) next-generation COVID-19 vaccine, GEO-CM04S1. The RRPV is funded by the Biomedical Advanced Research and Development Authority (BARDA) of the U.S. Department of Health and Human Services (HHS).
This agreement includes a clinical research with 10,000 participants in Phase 2b. Its goal is to compare the safety, immunogenicity, and efficacy of GEO-CM04S1 to an mRNA COVID-19 vaccination that has received FDA approval. The trial preparations are underway, with BARDA committing approximately $24.3 million initially, potentially increasing to $45 million.
This funding will cover the manufacturing of clinical materials and regulatory support for the Phase 2b trial. Additional awards from BARDA's Clinical Studies Network will provide around $343 million to execute the trial using GeoVax's vaccine, under the Project NextGen program.
Innovative Vaccine Development
The funding supports both GeoVax's MVA platform for infectious illnesses and provides essential resources for the development of GEO-CM04S1. Although first-generation COVID-19 vaccinations were effective during the height of the epidemic, their protective range and longevity are limited, requiring regular updates.
By promoting long-lasting neutralizing antibody and T-cell-based immunity against both present and future SARS-CoV-2 variants, GEO-CM04S1 seeks to overcome these constraints. The vaccine developed by GeoVax has continuously shown strong immune responses and has the potential to provide long-lasting and comprehensive clinical protection. It is expected that the start of the Phase 2b research will confirm the benefits and effectiveness of GeoVax's novel technology.
Funding for this initiative is part of Project NextGen, a $5 billion effort by HHS to develop new vaccines and therapeutics offering broader and more enduring protection against COVID-19 than those provided by the first-generation vaccines.