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GeoVax Labs, Inc.
5/6/2021
Good afternoon and welcome, everyone, to the GeoVax first quarter 2021 conference call. I'm Debbie with Chorus Call, and I will facilitate today's call. With me are David Dodd, Chairman and CEO, Mark Reynolds, Chief Financial Officer, and Mark Newman, PhD, Chief Scientific Officer. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Jules Abraham of CORE-IR who will provide a forward-looking statement regarding this call and information herein.
Thank you, Debbie. Good afternoon, everyone. Please note the following. Certain statements in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors, including whether GeoVax can develop and manufacture its vaccines with the desired characteristics in a timely manner. GeoVax's vaccines being safe for human use. GeoVax's vaccines will effectively prevent targeted infections in humans. Geovax's vaccines will receive regulatory approvals necessary to be licensed and marketed. Geovax raises required capital to complete vaccine development. There is a development of competitive products that may be more effective or easier to use than Geovax's products. Geovax will be able to enter into favorable manufacturing and distribution agreements and other factors over which Geovax has no control. Geovax assumes no obligation to update these forward-looking statements and does not intend to do so. More information about these factors is contained in GeoVax's filings with the Securities and Exchange Commission, including those set forth at risk factors in GeoVax's Form 10-K. It's now my pleasure to introduce the Chairman and CEO of GeoVax, David Dodd. David.
Thank you, Jules. Good afternoon, and thank you, everyone, for participating in the 2021 first quarter update call. We're pleased to have this opportunity to review and discuss our continued progress in accelerating our priority development programs towards clinical development and continuing to secure significant resources in support of GFX growth and development. During first quarter, we strengthened our cash position while advancing towards important data milestones related to several of our programs. We remain focused on delivering meaningful results and value milestones over the next 12 to 15 months advancing our priority programs related to COVID-19 and immuno-oncology, developing increased value for shareholders, stakeholders, and public health worldwide. Increasingly, variants of the SARS-CoV-2 are emerging, presenting further pandemic threats to health worldwide. As a result, the NIH and CEPI have issued requests for proposals for pan-coronavirus vaccine development projects specifically seeking to fund preventive vaccines able to provide broad and durable protection against coronaviruses, especially SARS-CoV-2 and others with pandemic potential. Indeed, there is increasing evidence that the SARS-CoV-2 virus will continue to evolve, requiring expanded variant coverage, otherwise requiring annual reconfigured vaccines, similar to what is necessary relative to influenza vaccinations. In other words, it is questionable as to whether the current vaccine will be adaptable against variants that might emerge. Most of all, rather than chasing the evolving virus, as will be likely required of various competitive technologies, our goal is to provide a single-dose, safe, durable, universal coronavirus vaccine, providing immunity against a number of potential variants before they emerge. and our technology allows for minimal to no refrigeration, providing a potential major advantage over other technologies. In January, we announced receipt of NIH funding in support of our universal coronavirus vaccine development program. Our program is currently in animal testing to determine which candidate we select for progressing into clinical development. We remain in contact with NIH, BARDA and other entities with whom we'll review our results hopefully receiving sufficient funding to accelerate our vaccine into clinical development. Dr. Mark Newman, our chief scientific officer, will discuss our program and approach a little later. Following the announcement of the NIH grant in support of our COVID program, we had the opportunity to further increase our cash position, successfully raising over $10 million. We also added over $3 million resulting from warrant exercises. Today, we have a cash position of over $20 million. We expect to further strengthen our balance sheet as similar opportunities present to increase our capital base on favorable terms. In summary, we are well capitalized to advance priority programs into clinical development over the next 12 to 15 months. This remains our focus. As noted in previous corporate updates, we continue to strengthen our intellectual property portfolio. now having over 70 granted or pending patent applications spread over 20 patent families with additional applications occurring during first quarter. We are confident that we have a strong IP position providing an increasingly more competitive position. In addition to our universal coronavirus vaccine program, we continue to progress other initiatives. This includes our advancing plans relative to immuno-oncology, for our animal testing results have been encouraging in support of progressing into clinical development. Also, our Lassa, Sudan Ebola, and Marburg vaccine programs are currently completing animal testing through non-human primate evaluation, supported through federal government non-diluted funding. In summary, we have a compelling pipeline focused on major medical needs, providing significant commercial market opportunities with near-term value milestones. Included in our development portfolio are six indications that qualify for the FDA priority voucher program. Our priority focus remains on advancing our COVID-19 vaccine program and our immuno-oncology developments, while these other programs will advance requiring minimal resources and distraction from GFX. Now I'd like to turn the call over to Dr. Mark Newman, our Chief Scientific Officer.
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