Research and development (R&D) expenses were $1,072,354 for the three months ended March 31, 2012, compared with $838,467 for the comparable period in 2011. R&D expenses include direct costs funded by the IPCAVD grant, as well as vaccine manufacturing costs and expenses related to the Phase 1/2 clinical trial, being sponsored by GeoVax, of the Company's therapeutic HIV vaccine. Costs associated with the Phase 2a clinical trial of GeoVax's preventative HIV vaccine, being conducted by the HVTN, are being funded directly by the NIH and are therefore not reflected in GeoVax's financial statements. General and administrative (G&A) expenses were $512,818 and $661,813 for the three months ended March 31, 2012 and 2011, respectively.
GeoVax reported cash balances of $2,240,486 at March 31, 2012, as compared to $1,167,980 at December 31, 2011. Summarized financial information is attached. Further information concerning the Company's financial position and results of operations are included in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission.
About GeoVax's TechnologyGeoVax's unique two component vaccine, a recombinant DNA and a recombinant modified vaccinia Ankara (MVA), is designed to stimulate both anti-HIV T cell and anti-HIV antibody immune responses. GeoVax's DNA and MVA vaccines are used in a prime/boost protocol in which priming is done with the DNA and boosting with the MVA. Both the DNA and MVA express the three major proteins of the AIDS virus: Gag, Pol, and Env, and produce non-infectious virus-like-particles. GeoVax's vaccines are unique in expressing virus-like particles that display the trimeric membrane bound form of the HIV-
|SOURCE GeoVax Labs, Inc.|
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