Stock Alert: GeoVax Gains 36% On COVD-19 Vaccine Development Deal With NIH

(RTTNews) - Shares of nano-cap company GeoVax Labs, Inc. (GOVX) jumped 36% on Monday morning after the biotechnology company announced a license agreement with NIH to support COVID-19 vaccine development.

GOVX is currently trading at $4.16, up $1.12 or 36.84%, on the Nasdaq.

GeoVax Labs signed a Patent and Biological Materials License Agreement with the National Institute of Allergy and Infectious Diseases, part of the National Institutes of Health, in support of the company's development of a vaccine against SARS-CoV-2.

The Patent License Agreement to GeoVax includes access to NIAID's patent rights in the stabilized SPIKE protein, which is the protein that SARS-CoV-2 uses to gain entry into human tissue.

The deal allows GeoVax rights to develop, manufacture and commercialize its COVID-19 vaccine. Financial terms of the agreement were not disclosed.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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