One of the stocks that have been gaining momentum at an impressive rate over the past month or so is that of Geovax Labs Inc (OTCMKTS:GOVX). The biotech company has gained considerably over the course of this period due to its coronavirus development program.
Coronavirus Development Program
Since the end of February, the GeoVax stock has gained as much as 110%, and earlier on in March, the company provided an update with regards to the program. The update was provided by the company’s Chief Scientific Officer Farshad Guirakhoo at a presentation on emerging infectious diseases at the World Immunotherapy Congress. The event was held in San Diego.
At the event in question, Guirakhoo stated that GeoVax had designed a number of vaccines during the course of the program so far, and eventually, the company is going to narrow it down through animal testing. He went on to add that the company is also trying to improve the development process so that it can speed up the process significantly.
The company had actually made the announcement back in January when the coronavirus epidemic had not actually spread to the rest of the world. At the time, GeoVax had stated that it is going to use its proprietary MVA-VLP platform in order to create the product.
The company added that the platform is going to be used for design and for constructing the genetic sequence of the vaccine. However, the crisis has now spread worldwide, and it is wreaking havoc in many nations across the world.
In such a situation, companies that are involved in developing coronavirus vaccines are seeing significant rallies in their stocks. Hence, it would not be surprising if there is more interest in the GeoVax stock in the coming days. The company is looking to start clinical development of its vaccine candidate ‘in a timely manner,’ and it remains to be seen how fast it can progress. Sign-up for continuing coverage on shares of $GOVX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $GOVX, either long or short, and we have not been compensated for this article.