GeoVax Labs Stock Leaps on COVID-19 Vaccine Progress

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GeoVax Labs  (GOVX) – Get Report stock surged on Friday after the biotech presented data from studies of its preventive vaccine that it said validate its approach to addressing COVID-19 and its variants.

Shares of the Smyrna, Ga., company at last check were 36% higher at $5.86.

Mark Newman, the company's chief scientific officer, made the presentation virtually during the European Society of Medicine General Assembly in Berlin.

The company said it intended to induce broader immunity against variants by including multiple structural and nonstructural proteins.

GeoVax said its strategy provides the basis for generating a universal vaccine with augmented potential to alleviate the burden of disease caused by circulating coronaviruses.

“The presentation of data from this study further validates our platform and approach to addressing COVID-19 and its variants,” David Dodd, GeoVax president and chief executive, said in a statement. 

“Our vaccines under development are intended to be used as either a primary vaccine or to boost other COVID-19 vaccines as part of vaccination strategies to provide immunity to a range of coronavirus variants.”

Cases of the highly contagious COVID-19 delta variant have continued to rise. 

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Apple  (AAPL) – Get Report will delay the planned return of its employees to its offices until January at the earliest. 

The computer giant is also intensifying COVID testing of its corporate and retail employees, as it seeks to cope with the quick expansion of the delta variant.

Other compan! ies have also delayed their office returns.

The Department of Homeland Security said Friday that to minimize the spread of COVID-19 and its variants, the U.S. is extending restrictions on nonessential travel at land and ferry crossings with Canada and Mexico through Sept. 21. The restrictions went into effect last year.

Health officials said the highest spread of cases and severe outcomes occurs in places with low vaccination rates, and virtually all hospitalizations and deaths have been among the unvaccinated.

But the New York Times said that preliminary data from seven states show that breakthrough infections in vaccinated people accounted for at least one in five newly diagnosed cases in six of these states and for higher percentages of total hospitalizations and deaths than had been previously observed in all of them.

The Biden administration is offering COVID-19 vaccine booster shots for all Americans beginning the week of Sept. 20.

Earlier this month, GeoVax reported a second-quarter net loss of $1.3 million, or 21 cents a share, wider than the loss of $455,204, or 66 cents, in the year-earlier quarter.

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