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GeoVax Labs Reports 2012 First Quarter Financial Results
Date:5/15/2012

of Health (NIH). This compares to $893,002 of grant revenue reported for the same period in 2011. As of March 31, 2012, there is approximately $3.3 million in unused IPCAVD grant funds available for use through August 31, 2012 (the end of the original project period).

Research and development (R&D) expenses were $1,072,354 for the three months ended March 31, 2012, compared with $838,467 for the comparable period in 2011. R&D expenses include direct costs funded by the IPCAVD grant, as well as vaccine manufacturing costs and expenses related to the Phase 1/2 clinical trial, being sponsored by GeoVax, of the Company's therapeutic HIV vaccine. Costs associated with the Phase 2a clinical trial of GeoVax's preventative HIV vaccine, being conducted by the HVTN, are being funded directly by the NIH and are therefore not reflected in GeoVax's financial statements. General and administrative (G&A) expenses were $512,818 and $661,813 for the three months ended March 31, 2012 and 2011, respectively.

GeoVax reported cash balances of $2,240,486 at March 31, 2012, as compared to $1,167,980 at December 31, 2011. 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.

About GeoVax's TechnologyGeoVax's unique two component vaccine, a recombinant DNA and a recombinant modified vaccinia Ankara (MVA), is designed to stimulate both anti-HIV T cell and anti-HIV antibody immune responses. GeoVax's DNA and MVA vaccines are used in a prime/boost protocol in which priming is done with the DNA and boosting with the MVA. Both the DNA and MVA express the three major proteins of the AIDS virus: Gag, Pol, and Env, and produce non-infectious virus-like-particles. GeoVax's vaccines are unique in expressing virus-like particles that display the trimeric membrane bound form of the HIV-
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SOURCE GeoVax Labs, Inc.
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1. GeoVax Labs CEO Update Letter to Shareholders
2. GeoVax Labs First Patient Inoculated in Phase 1/2 Clinical Trial for HIV/AIDS Therapeutic Vaccine
3. GeoVax Phase 2a Clinical Trial Completes Enrollment
4. GeoVax $3.6 Million Award Increased to $4.4 Million by U.S. Government
5. GeoVax Labs, Inc. Announces Second Quarter Financial Results
6. GeoVax Labs HIV/AIDS Vaccine Development Leadership to be Highlighted During 2011 World Vaccine Congress
7. GeoVax Announces Publication of Phase 1 Clinical Trial in The Journal of Infectious Diseases
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10. GeoVax Announces Expansion of Phase 2a Human HIV/AIDS Vaccine Trial
11. GeoVax Awarded Federal Grant Under the Qualifying Therapeutic Discovery Project Program
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