GeoVax Labs (GOVX) Q4 2025 earnings summary

Executive summary

• Advanced GEO-MVA mpox/smallpox vaccine to late-stage development, with pivotal Phase 3 trial set for H2 2026.

• Achieved regulatory alignment with EMA for expedited approval pathway.

• Strengthened manufacturing readiness with cGMP production and fill-finish of clinical-grade GEO-MVA.

• Prioritized execution of GEO-MVA milestones and strategic partnerships.

Financial highlights

• Net loss for 2025 was $21.5 million ($22.40/share), improved from $25.0 million ($120.46/share) in 2024.

• Revenue was $2.5 million in 2025, down from $4.0 million in 2024, mainly from BARDA/RRPV contract.

• R&D expenses decreased to $18.1 million from $23.7 million year-over-year, reflecting lower clinical and manufacturing costs.

• G&A expenses rose to $6.0 million from $5.4 million, driven by higher personnel, consulting, and stock-based compensation.

• Cash balance at year-end 2025 was $3.1 million, down from $5.5 million at year-end 2024.

Outlook and guidance

• Pivotal Phase 3 trial for GEO-MVA scheduled for the second half of 2026.

• Data readouts for GEO-CM04S1 COVID-19 vaccine expected in 2026.

• Planning Phase 2 trial for Gedeptin in head and neck cancer for 2027.