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BUZZ-GeoVax tumbles as HHS ends mid-stage COVID vaccine trial

Reuters
04/15
BUZZ-GeoVax tumbles as HHS ends mid-stage COVID vaccine trial

** Shares of drug developer GeoVax Labs GOVX.O fall 16% to 89 cents in extended trading

** The U.S. Department of Health and Human Services has decided to terminate GeoVax's COVID-19 vaccine project contract — SEC filing

** The reason for the termination is stated as "convenience to the government"

** GeoVax received a stop-work notice from Advanced Technology International $(ATI)$ directing them to halt all activities related to the project

** The project was funded by the Biomedical Advanced Research and Development Authority (BARDA), a division of HHS

** The COVID-19 vaccine was in the mid-stage trial

** As of last close, stock fell 5.7% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com))

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