GeoVax Labs Inc 2025年季度报告

Condensed Consolidated Financial Statements:Condensed Consolidated Balance Sheets as of June 30, 2025 (unaudited) and December 31, 2024Condensed Consolidated Statements of Operations for the three-month and six-month periods ended June 30, Cash and cash equivalents at end of period$3,093,862$1,561,712 Nature of BusinessGeoVax Labs, Inc., headquartered in the Atlanta, Georgia metropolitan area, is a clinical-stage biotechnology company incorporated The Company is focused on developing immunotherapies and vaccines against infectious diseases and cancers using novel vector clinical trials, being evaluated as (i) a primary vaccine for immunocompromised patients such as those suffering from hematologiccancers and other patient populations for whom the current authorized COVID-19 vaccines are insufficient, (ii) a booster vaccine inpatients with chronic lymphocytic leukemia (CLL), and (iii) a more robust, durable COVID-19 booster among healthy patients who Summary of Significant Accounting PoliciesWe disclosed in Note 2 to our consolidated financial statements included in our Annual Report on Form 10-K for the year endedDecember 31, 2024 those accounting policies that we consider significant in determining our results of operations and financialposition. During the six months ended June 30, 2025, there have been no material changes to, or in the application of, the accountingpolicies previously identified and described in the Form 10-K. The accompanying financial statements include the accounts of GeoVax Labs, Inc. and GeoVax, Inc. All intercompany transactionshave been eliminated in consolidation. The financial statements are unaudited, but include all adjustments, consisting of normalrecurring entries, which we believe to be necessary for a fair presentation of interim periods presented. Interim results are notnecessarily indicative of results for a full year. The financial statements should be read in conjunction with our audited consolidatedfinancial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024. We expect our operatingresults to fluctuate for the foreseeable future; therefore, period-to-period comparisons should not be relied upon as predictive of the sources. There can be no assurance that additional funding will be available on favorable terms or at all. These factors collectivelyraise substantial doubt about the Company’s ability to continue as a going concern. Management believes that we will be successfulin securing the additional capital required to continue the Company’s planned operations, but that our plans do not fully alleviate thesubstantial doubt about the Company’s ability to operate as a going concern. contemplates realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do notinclude any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described above.Recent Accounting Pronouncements Payroll-related liabilities Operating Lease.We lease approximately8,400square feet of office and laboratory space pursuant to an operating lease whichexpires on December 31, 2025. Rent expense for the three-month and six-month periods ended June 30, 2025 was $48,177and $96,355, respectively, as compared to $46,764and $93,528, respectively, for the same periods of 2024. Future minimum leasepayments total $96,355in 2025.License Agreements.We have entered into license agreements for various technologies and patent rights associated with our product the uncertainty of the achievement and timing of the contingent events requiring payment under these agreements, the amounts to bepaid by us in the future are not determinable.Other Commitments. In the normal course of business, we enter into various contracts and purchase commitments including those Payments due upon cancellation may consist of payments for services provided or expenses incurred to date, or cancellation penaltiesdepending on the time of cancellation.6 ATM Program. On September 25, 2024, we entered into a Sales Agreement and established an “At-the-Market” continuous offeringprogram (the “ATM Program”), pursuant to which the Company may offer and sell, from time to time through its sales agent, shares net proceeds of approximately $3.8million, after deducting commissions to the sales agent and other related expenses. During the Stock Options six months ended June 30, 2025 is presented below.NumberWeighted-AverageExerciseWeighted-AverageRemainingContractualAggregateIntrinsic Stock options grantedOutstanding at June 30, 2025 Exercisable at June 30, 2025117,905$30.676.6$Stock Purchase Warrants of SharesSeptember 2020159,781$ During the three-month and six-month periods ended June 30, 2025, we recognized revenue of $852,282and $2,489,145,respectively, associated with the ATI-RRPV Contract, as co