GeoVax Labs rises as H.C. Wainwright initiates with 'buy'

Geovax Labs

26/10/2022 16:35

**  Shares of biotech co GeoVax Labs Inc  GOVX.O  rise 17.9%
to ~$1 after H.C. Wainwright initiates coverage with "buy"
rating and $8 PT      
    ** Brokerage says current mRNA COVID-19 vaccines are
suboptimal due to their side effects and sees potential in co's 
mid-stage  vaccine GEO-CM04S1 to confer durable protection to
immunocompromised individuals against SARS-CoV-2 infection 
    ** Says co's mid-stage therapy Gedeptin targets a large
market opportunity in advanced head and neck cancer
(HNSCC)treatment 
    ** Also sees HNSCC market to grow to $2.6 bln by 2027 from
$1.7 bln in 2022, and anticipates Gedeptin's U.S. FDA approval
in 2029, touching global sales of $638 mln in 2031 
    ** Brokerage seems positive on co realizing a future market
opportunity using its modified vaccinia Ankara (MVA) approach
against monkeypox, a viral infection that causes symptoms
similar to, but milder than, smallpox
    ** U.S. declared monkeypox a 'public health emergency' in
August  urn:newsml:reuters.com:*:nL1N2ZG1WB
    ** CO ended Q2 2022 with $30.9 mln in cash and equivalents,
which brokerage estimates are funds operationally sufficient
through 2023 
    ** Including session's gain, stock down 71.8% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))