GeoVax Labs, Inc. Files 10-Q for Q1 2024

TL;DR

<b>GeoVax Labs, Inc. filed its Q1 2024 10-Q report detailing financial and operational information.</b>

AI Summary

GeoVax Labs, Inc. (GOVX) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. GeoVax Labs, Inc. filed a 10-Q for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's principal executive offices are located in Smyrna, Georgia. GeoVax Labs, Inc. was formerly known as Dauphin Technology Inc. and Successo Inc. The filing includes details on warrants, stock incentive plans, and lease agreements.

Why It Matters

For investors and stakeholders tracking GeoVax Labs, Inc., this filing contains several important signals. This 10-Q provides investors with the latest financial performance and operational updates for GeoVax Labs, Inc. for the first quarter of 2024. Understanding the details within this filing is crucial for assessing the company's current financial health, strategic direction, and potential risks moving forward.

Risk Assessment

Risk Level: low — GeoVax Labs, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and any new disclosures in the 10-Q to understand GeoVax Labs' current operational status and financial position.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-14 — Filing Date (Filed as of date)
• 2024-01-01 — Quarter Start Date (Q1 2024 period)
• 2023-03-31 — Prior Year Period End Date (Comparison period)

Key Players & Entities

• GeoVax Labs, Inc. (company) — Filer name
• Smyrna, GA (location) — Business address
• Dauphin Technology Inc. (company) — Former company name
• Successo Inc. (company) — Former company name

FAQ

Industry Context

GeoVax Labs operates in the pharmaceutical preparations industry, focusing on vaccine development.

Regulatory Implications

As a publicly traded company, GeoVax Labs is subject to SEC regulations, including the requirement to file quarterly reports (10-Q).

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and cash flow.
2. Review any new business developments or risk factors disclosed in the report.
3. Compare Q1 2024 results to previous periods to identify trends.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-14: Filing Date — Date the 10-Q was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a timely update on the company's financial condition and performance.)

Year-Over-Year Comparison

This filing represents the first quarterly report for GeoVax Labs in 2024, providing an update from its previous filings.

Key Financial Figures

• $0.001 — ange on which Registered Common Stock $0.001 par value GOVX The Nasdaq Capital M

Filing Documents

• govx20240331_10q.htm (10-Q) — 452KB
• ex_671452.htm (EX-3.1) — 24KB
• ex_671453.htm (EX-31.1) — 12KB
• ex_671454.htm (EX-31.2) — 12KB
• ex_671455.htm (EX-32.1) — 4KB
• ex_671456.htm (EX-32.2) — 4KB
• 0001437749-24-016605.txt (&nbsp;) — 2326KB
• govx-20240331.xsd (EX-101.SCH) — 26KB
• govx-20240331_def.xml (EX-101.DEF) — 156KB
• govx-20240331_lab.xml (EX-101.LAB) — 143KB
• govx-20240331_pre.xml (EX-101.PRE) — 173KB
• govx-20240331_cal.xml (EX-101.CAL) — 20KB
• govx20240331_10q_htm.xml (XML) — 219KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1 Condensed Consolidated Financial Statements: Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations for the three-month periods ended March 31, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three-month periods ended March 31, 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Cash Flows for the three-month periods ended March 31, 2024 and 2023 (unaudited) 4 Notes to Condensed Consolidated Financial Statements (unaudited) 5 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 9 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 15 Item 4

Controls and Procedures

Controls and Procedures 15

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 16 Item 1A

Risk Factors

Risk Factors 16 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 3 Defaults Upon Senior Securities 16 Item 4 Mine Safety Disclosures 16 Item 5 Other Information 16 Item 6 Exhibits 17

-- FINANCIAL INFORMATION

Part I -- FINANCIAL INFORMATION Item 1

Financial Statements

Financial Statements GEOVAX LABS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31 December 31, 2024 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 768,859 $ 6,452,589 Prepaid expenses 2,093,519 1,433,153 Total current assets 2,862,378 7,885,742 Property and equipment, net 190,113 209,689 Other assets 305,691 1,187,788 Total assets $ 3,358,182 $ 9,283,219 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,883,844 $ 2,802,950 Accrued expenses 1,420,063 716,931 Total current liabilities 3,303,907 3,519,881 Commitments (Note 4) Stockholders' equity: Common stock, $ .001 par value: Authorized shares – 150,000,000 and 600,000,000 at March 31, 2024 and December 31, 2023, respectively Issued and outstanding shares – 2,308,309 and 1,977,152 at March 31, 2024 and December 31, 2023, respectively 2,308 1,977 Additional paid-in capital 110,265,884 110,125,146 Accumulated deficit ( 110,213,917 ) ( 104,363,785 ) Total stockholders' equity 54,275 5,763,338 Total liabilities and stockholders' equity $ 3,358,182 $ 9,283,219 See accompanying notes to condensed consolidated financial statements. 1 GEOVAX LABS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended March 31, 2024 2023 Operating expenses: Research and development 4,425,728 2,819,189 General and administrative 1,457,353 1,451,425 Total operating expenses 5,883,081 4,270,614 Loss from operations ( 5,883,081 ) ( 4,270,614 ) Other income: Interest income 32,949 232,698 Net loss $ ( 5,850,132 ) $ ( 4,037,916 ) Basic and diluted: Net loss per common share $ ( 2.47 ) $ ( 2.30 ) Weighted average shares outstanding 2,367,050 1,755,905 See accompanying notes to condensed consolidated financial statements. 2 GEOVAX LABS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS '

Forward-Looking Statements

Forward-Looking Statements Information included in this Report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the " Exchange Act " ). Forward-looking statements are not statements of historical facts, but rather reflect our current expectations concerning future events and results. We generally use the words " believes, " " expects, " " intends, " " plans, " " anticipates, " " likely, " " will " and similar expressions to identify forward-looking statements. All statements in this Report, other than statements of historical facts, including statements regarding our strategy, future operations, future financial position, future revenues, future governmental grants, projected costs, prospects, plans, intentions, expectations and objectives could be forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. We operate in a highly competitive, highly regulated and rapidly changing environment and our business is constantly evolving. Therefore, it is likely that new risks will emerge, and that the nature and elements of existing risks will change, over time. It is not possible for management to predict all such risk factors or changes therein, or to assess either the impact of all such risk factors on our business. We assume no obligation to publicly update or revise any forward-looking statements, whether as a resul

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View this 10-Q filing on SEC EDGAR