Kittisak Kaewchalun Shares of GeoVax ( NASDAQ: GOVX ) shot up 50% in mid-afternoon trading Tuesday amid news that the US government plans to fund a Phase 2b study of the company's next-generation COVID-19 vaccine. GeoVax said in an SEC filing that the randomized, double-blinded study will enroll 10,000 participants and be fully funded by the Biomedical Advanced Research and Development Authority, or BARDA. The study will compare the efficacy, safety and immunogenicity of GeoVax’s duel-antigen vaccine GEO-CM04S1 with an FDA-approved mRNA COVID-19 vaccine.
Under the agreement, BARDA will award GeoVax up to $45M for the manufacturing of clinical materials and support for the Phase 2b study. The government will also provide around $343M for a clinical research organization to conduct the clinical trial. Currently, the FDA has approved two mRNA COVID-19 vaccines, Pfizer ( PFE ) and BioNTech’s ( BNTX ) Comirnaty and Moderna’s ( MRNA ) Spikevax.
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