ATLANTA, March 14 /PRNewswire-FirstCall/ -- GeoVax Labs, Inc. , an Atlanta-based biotechnology company focused on development of an HIV/AIDS vaccine, today announced its financial results for the fourth quarter and year ended December 31, 2007.
GeoVax recorded a net loss of $1,155,870 for the fourth quarter ended December 31, 2007, as compared to $157,276 for the comparable period in 2006. For the full year of 2007, the Company recorded a net loss of $4,241,796 as compared to $584,166 in 2006. GeoVax’s operating results fluctuate due to the timing of activities and related costs associated with its vaccine research and development activities. The overall increase in the Company’s net loss from 2006 to 2007 is primarily attributable to:
Summarized financial information is shown below. GeoVax’s full set of audited financial statements are included in its Form 10-K filing with the Securities and Exchange Commission.
From data collected from the 26 participants who completed the trial, the following positive conclusions were observed:
About GeoVax Labs, Inc.
GeoVax Inc. is an Atlanta, Georgia USA biotechnology company, established to develop, manufacture, license and commercialize human vaccines for diseases caused by HIV-1 (Human Immunodeficiency Virus) and other infectious agents. GeoVax’s vaccine technology is protected by 20 issued and filed patent applications.
For more information, contact the Company at (404) 727-0971 or visit http://www.geovax.com.
Safe Harbor Statement: All statements in this news release, not statements of historical fact, are forward-looking statements. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties which could cause actual results to differ materially from those described in the forward-looking statements. Risks and uncertainties include, but are not limited to, whether; GeoVax can develop and manufacture these vaccines with the desired characteristics in a timely manner, GeoVax’s vaccines will be determined to be safe for use in humans, GeoVax’s vaccines will be effective in preventing AIDS in humans, the vaccines will receive the regulatory approvals necessary to be licensed and marketed, GeoVax can raise the required capital to complete development of its vaccines, there is development of competitive products that may be more effective or easier to use than GeoVax’s products, and other factors over which GeoVax has no control. GeoVax assumes no obligation to update these forward-looking statements, and does not intend to do so. Certain matters discussed in this news release are forward looking statements involving certain risks and uncertainties including, without limitations, risks detailed in the Companies Securities and Exchange Commission filings and reports.
CONTACT: Investors, Tim Grace, +1-312-640-6667, tgrace@frbir.com, or
Media, Melanie Nimrodi, +1-312-546-3508, mnimrodi@frbir.com, both for
GeoVax Labs, Inc.; or Donald Hildebrand, or Jennifer Nelms, both of GeoVax
Labs, Inc., +1-404-727-0971
Web site: http://www.geovax.com/
