GeoVax Labs News: GOVX Stock Flies 18% on NIH COVID-19 Deal

GeoVax Labs (NASDAQ:GOVX) news for Monday includes a deal with the National Institutes of Health (NIH) to develop a vaccine for the novel coronavirus.

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According to a GeoVax Labs news release, the company has reached a Patent and Biological Materials License Agreement with the NIH’s National Institute of Allergy and Infectious Diseases (NIAID). This agreement is what will allow it to develop its own vaccine for the coronavirus.

The agreement between GeoVax Labs and NIAID gives the company access to the latter’s patent rights in the stabilized SPIKE protein. This is the protein that allows the novel coronavirus to gain access to people.

GeoVax Labs says its goal with this agreement is the development of a Modified Vaccinia Ankara Virus-Virus Like Particle vaccine. This vaccine would boost the immune system to help it better fend off the coronavirus.

The GeoVax Labs news release notes that the company has already been moving forward with coronavirus vaccine plans ahead of this deal. It’s currently developed four vaccines with the hopes that one will result in a single-dose universal vaccine to treat multiple strains of the coronavirus.

David Dodd, president and CEO of GeoVax Labs, said this about the news.

“We anticipate that multiple COVID-19 vaccines will be necessary for the goal of broad public health protection, especially in addressing the preventive needs among populations with compromised immune systems, including people with co-morbidities and older adults.”

GOVX stock was up 17.7% as of noon Monday.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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