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GeoVax Labs, Inc. Third Quarter Financial Results and Operational Update

an trials. These results are extremely encouraging and provide a strong foundation for proceeding with phase 2 human testing.

Hildebrand continued, "As with all biotechnology companies, fund-raising is a challenge and it's no different with GeoVax. Although the $15 million grant from the NIH will fund a portion of our existing operations, part of the grant is earmarked for new projects requiring incremental spending. And, while we are disappointed with the inability of Pure Capital to fulfill its recent financing commitment to us, we believe in our ability to secure other sources of capital and continue our ongoing activities."


Condensed Consolidated Statements of Operations

(amounts in thousands, except per share data)

Three Months Ended Nine Months Ended

September 30, September 30,

2007 2006 2007 2006


Grant Revenue $ - $ - $ - $ 479

Operating expenses:

Research and development 360 173 1,273 510

General and administrative 815 136 1,865 438

1,175 309 3,138 948

Other income (expense)

Interest income 9 26 52 42

9 26 52 42

Net loss $(1,166) $(283) $(3,086) $(427)

Income (loss) per common share $(0.00) $0.00 $(0.00) $(0.00)


Condensed Balance Sheet Highlights

(amounts in thousands)


SOURCE GeoVax Labs, Inc.
Copyright©2007 PR Newswire.
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