Investor Relations (IR) Questions: GeoVax Labs GOVX
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Answers received: February 2013
1) When is the last time GOVX raised cash through an offering (diluted)?
Our last equity offering was in March 2012 in which we raised $2 million. I’ve attached the Form 8-K filing describing the transaction. In January 2013, we received an additional $1 million related to the exercise of warrants associated with that deal. The related Form 8-K is also attached.
2) How much cash (not cash equivalents) does GOVX have?
We haven’t filed our year-end financial statements yet, so the 12/31/12 amount has not been disclosed. At 9/30/12, we reported $1.6 million of cash.
3) What and approximately when is the next known catalyst?
Things to look for during 2013 will be
(a) Formal publication of the Phase 2a trial results for our HIV preventive vaccine - Q2 est. This trial was conducted by the HIV Vaccine Trials Network (HVTN) with financial support from the NIH.
(b) Completion of our Phase 1 trial (HIV preventive vaccine – 2nd gen) – Q4 est. This ongoing trial is being conducted by the HVTN with financial support from the NIH.
(c) Initial data readouts from our Phase 1/2 trial (HIV therapeutic vaccine – treatment interruption protocol) – Q4 est.
(d) Initiation of a Phase 1 trial (HIV therapeutic vaccine – drug combo protocol) – Q2 est. We expect this trial to be conducted by the International Maternal Pediatric Adolescent AIDS Clinical Trial Group (IMPAACT) with financial support from the NIH.
4) What is GOVX's quarterly cash burn?
Our cash needs can fluctuate dramatically quarter to quarter based on vaccine manufacturing activities, clinical trial costs, etc. The average quarterly cash burn for 2012 (thru 9/30) was approximately $630,000. We estimate our cash needs going forward to be between $4-5 million annually.
5) Does GOVX have an existing line of credit and if so how much can they draw against it?
No existing lines of credit.
1) When is the last time GOVX raised cash through an offering (diluted)?
Our last equity offering was in March 2012 in which we raised $2 million. I’ve attached the Form 8-K filing describing the transaction. In January 2013, we received an additional $1 million related to the exercise of warrants associated with that deal. The related Form 8-K is also attached.
2) How much cash (not cash equivalents) does GOVX have?
We haven’t filed our year-end financial statements yet, so the 12/31/12 amount has not been disclosed. At 9/30/12, we reported $1.6 million of cash.
3) What and approximately when is the next known catalyst?
Things to look for during 2013 will be
(a) Formal publication of the Phase 2a trial results for our HIV preventive vaccine - Q2 est. This trial was conducted by the HIV Vaccine Trials Network (HVTN) with financial support from the NIH.
(b) Completion of our Phase 1 trial (HIV preventive vaccine – 2nd gen) – Q4 est. This ongoing trial is being conducted by the HVTN with financial support from the NIH.
(c) Initial data readouts from our Phase 1/2 trial (HIV therapeutic vaccine – treatment interruption protocol) – Q4 est.
(d) Initiation of a Phase 1 trial (HIV therapeutic vaccine – drug combo protocol) – Q2 est. We expect this trial to be conducted by the International Maternal Pediatric Adolescent AIDS Clinical Trial Group (IMPAACT) with financial support from the NIH.
4) What is GOVX's quarterly cash burn?
Our cash needs can fluctuate dramatically quarter to quarter based on vaccine manufacturing activities, clinical trial costs, etc. The average quarterly cash burn for 2012 (thru 9/30) was approximately $630,000. We estimate our cash needs going forward to be between $4-5 million annually.
5) Does GOVX have an existing line of credit and if so how much can they draw against it?
No existing lines of credit.
