GeoVax Labs Inc (GOVX)

[Apophis]

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Financial Review
GeoVax ( GOVX

) reported a net loss of $516,881 ($0.01 per share) for the three months ended June 30, 2017, compared to $575,835 ($0.02 per share) for the same period in 2016. For the six months ended June 30, 2017, the Company's net loss was $1,065,222 ($0.02 per share) as compared to $1,872,114 ($0.05 per share) in 2016.
The Company reported grant and collaboration revenues of $352,137 and $647,872 for the three-month and six-month periods of 2017, respectively. This compares to $166,280 and $213,880 of grant revenue reported for the comparable periods of 2016. As of June 30, 2017, there is $910,774 in approved grant funds remaining and available for use.
Research and development (R&D) expenses were $518,098 and $1,069,893 for the three-month and six- month periods of 2017, respectively, as compared to $397,576 and $835,580 for the comparable periods of 2016. R&D expenses include direct costs funded by NIH grants, as well as other vaccine manufacturing and testing costs. General and administrative (G&A) expenses were $352,191 and $644,858 for the three-month and six-month periods of 2017, respectively, as compared to $344,818 and $1,251,323 for the comparable periods of 2016.
GeoVax ..
) reported cash balances of $822,597 at June 30, 2017, as compared to $454,030 at December 31, 2016. Summarized financial information is attached. Further information concerning the Company's financial position and results of operations are included in its Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission.