GOVX

• GeoVax remains confident in the progress of its portfolio including GEO-MVA, GEO-CM04S1, Gedeptin, and MVA manufacturing process. - GEO-MVA received EMA expedited development path, allowing bypass of Phase I/II trials to Phase III immuno-bridging trial; fill/finish of clinical batch vaccine material initiated. - GEO-CM04S1 is a critical COVID-19 vaccine for immunocompromised populations, with clinical results presented at various conferences and continued partnering interest. - Gedeptin's Phase II trial for head and neck cancer is pending completion of product manufacturing, with protocol modified to mimic KEYNOTE-689 study using neoadjuvant Gedeptin and pembro. - Increased partnering and collaboration interest from industry and nondilutive funding organizations.

• Anticipate advancing GEO-MVA to clinical evaluation early next year. - Focus on advancing GEO-CM04S1 for immune-compromised populations. - Progress Gedeptin Phase II trial for head and neck cancer. - Explore strategies like strategic partnerships, nondilutive funding, or additional stock offerings to fund programs and extend cash runway.

For the 9 months ended September 30, 2025, revenues were $2.5 million compared to $3.1 million in 2024. Research and development expense for Q3 2025 was $5 million vs. $7.4 million in 2024. General and administrative expense for Q3 2025 was $1.3 million vs. $1.2 million in 2024. Net loss for Q3 2025 was $6.3 million vs. $5.8 million in 2024. Year-to-date net loss was $17 million vs. $16.7 million in 2024. Cash balances at September 30 were $5 million.

• Uncertainty in developing and manufacturing product candidates with desired characteristics. - Dependence on regulatory approvals for product licensing and marketing. - Competition from other products that may be more effective or easier to use. - Need to raise required capital to complete development of products. - Dependence on favorable manufacturing and distribution agreements.

Q: Can you envision any scenario where MVA would go commercial before clinical trials?

A: David Dodd stated he wouldn't anticipate prior clinical evaluation, but emergency use licensing via WHO could occur in certain situations.

Q: On broad strategic level, any info on collaborations?

A: David Dodd mentioned holding worldwide rights, active in partnering discussions at conferences, open to win-win partnerships for regional development.

Q: Which regions are most supportive for vaccine programs?

A: GEO-MVA has focus in Southern Hemisphere with endemic outbreaks; CM04S1 targets immunocompromised populations globally; Gedeptin interests solid tumor cancer parties; urgency around GEO-MVA drives much interest.

Q: On Gedeptin and pembro combo, biosimilar of pembro and impact on adoption?

A: David Dodd said he doesn't know if biosimilars will be available by approval, but open to discussions with other immune checkpoint inhibitor developers.