GeoVax Statement on BARDA Project NextGen

and Status of GEO-CM04S1 Program

 April 16, 2025

On April 14, 2025, GeoVax publicly disclosed that on April 11, 2025, it had received written notification from Advanced Technology International (ATI) (the “Notice”) directing the Company to stop work on all of the Company’s efforts with respect to Project Agreement No. 01; RRPV-24-04-NGVx-006; “NextGen Vaccinations: Phase 2B Clinical Trial Execution: Phase 2b study to evaluate GEO-CM04S1 COVID-19 vaccine” under the Consortium Base Agreement No. 2024-564 (the “Project Agreement”) with ATI, the Rapid Response Partnership Vehicle’s Consortium Management Firm funded by the Biomedical Advanced Research and Development Authority (BARDA) of the U.S. Department of Health and Human Services. The Notice indicated that BARDA decided to terminate the contract for convenience to the government pursuant to the terms of the Project Agreement.

Based on comments and questions it has received from shareholders and other interested parties, GeoVax has determined to provide the following additional statements:

• GeoVax received the Notice the afternoon of Friday, April 11 and had no prior indication that the Notice was forthcoming. GeoVax’s management was surprised by the Notice, as both the GeoVax internal team and its external contractors and consultants were making good progress and had a productive working relationship with the technical team at BARDA.
• The Notice invoked the “termination for the convenience of the government” provision of the Project Agreement. Although not referenced in the Notice, nor in any separate communications with the government parties, GeoVax assumes that the contract termination is resulting from the ongoing government efficiency efforts under the new administration.
• The termination in no way implies any concerns as to the safety or potential efficacy of GEO-CM04S1 or the underlying MVA vaccine vector technology.
• The termination does not impact the ongoing clinical trials of GEO-CM04S1, primarily investigating the vaccine in immunocompromised patient populations.
• The BARDA funding pursuant to the Project Agreement was mostly earmarked for incremental spending, with a large portion going directly to the external Clinical Research Organization (CRO) to conduct the clinical trial. Given the structure of the award, the financial impact to GeoVax is estimated at less than $750,000 annually, toward reimbursement of existing personnel and overhead costs. GeoVax therefore does not anticipate any significant changes to its ongoing operations resulting from the contract termination.

The decision by BARDA to terminate our contract is very disappointing to GeoVax and our stakeholders. We remain committed to GEO-CM04S1 as a critically needed next-generation COVID-19 vaccine, providing the potential for (a) a more robust immune response against emerging variants, (b) improved durability versus the 1^st generation COVID-19 vaccines and, (c) especially in addressing the immune protection among those patients with compromised immune systems.

Our current studies will continue, especially our focus on achieving the completion of the investigator-initiated Phase 2 trial among Chronic Lymphocytic Leukemia (CLL) patients, one of the highest risk groups in need of reducing the risks of severe infection, hospitalization and the risk of death. Demonstrating the potential superior value of GEO-CM04S1 among immunocompromised patients remains our focus for development of differentiation from the 1^st generation and other single-antigen focused COVID-19 vaccines.