Benzinga | Aug 20, 2021 09:47AM EDT

Why Geovax Labs Shares Are Soaring Today

Geovax Labs Inc (NASDAQ:GOVX) is trading significantly higher Friday after the company announced it presented data from ongoing studies of its preventive vaccine against COVID-19 at the European Society of Medicine General Assembly.

Using its novel Modified Virus Ankara-Virus Like Particle (GV-MVA-VLP) platform, GeoVax has developed a design strategy for vaccines expected to induce broader immunity through inclusion of multiple structural and nonstructural proteins from the target pathogen.

The GV-MVA-VLP platform is known to elicit a balanced humoral and cellular response against a range of immunogens, which could possibly make immune escape against emerging variants less likely.

"In our studies, we observed the induction of functional antibodies and T-cell responses that mediate protection from infection and pathogenesis," said Mark Newman, chief scientific officer of Geovax Labs.

Geovax Labs is a U.S.-based clinical-stage biotechnology company engaged in developing immunotherapies and vaccines against cancers and infectious diseases.

Price Action: Geovax Labs has traded as high as $8.71 and as low as 25 cents over a 52-week period.

At last check Friday, the stock was up 58.40% at $6.80.