GeoVax Labs, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 12, 2026, reporting continued operating losses and a declining cash position.

Key Highlights

  • Net loss of $4,156,001 for the three months ended September 30, 2026, compared to a net loss of $6,318,914 in the same quarter of 2025, according to the filing.
  • Nine-month net loss of $13,844,500 for the period ended September 30, 2026, versus $17,046,348 for the same period in 2025.
  • Cash and cash equivalents of $2,150,946 as of September 30, 2026, down from $3,085,741 at December 31, 2025.
  • No revenue recorded for the three- or nine-month periods ended September 30, 2026, compared to $2,489,145 in government contract revenue for the nine months ended September 30, 2025.
  • Total assets of $3,424,359 as of September 30, 2026, down from $6,341,868 at December 31, 2025.
  • Shares outstanding increased to 420,953 at September 30, 2026, from 72,173 at December 31, 2025, reflecting stock and warrant activity during the period.
  • Accumulated deficit of $164,665,352 as of September 30, 2026, up from $150,820,852 at December 31, 2025.

GeoVax Labs Financial Position and Operations for the Nine Months Ended September 30, 2026

According to the filing, GeoVax Labs (NASDAQ:GOVX) reported a net loss of $4,156,001 for the three months ended September 30, 2026, compared to a net loss of $6,318,914 for the same quarter in 2025. For the nine months ended September 30, 2026, the company reported a net loss of $13,844,500, compared to $17,046,348 for the same period in 2025. The company recorded no revenue in either period of 2026, while the prior-year nine-month period included $2,489,145 in government contract revenue.

The filing disclosed that total operating expenses for the third quarter of 2026 were $4,174,469, consisting of $2,819,681 in research and development costs and $1,354,788 in general and administrative expenses. For the nine months ended September 30, 2026, total operating expenses were $13,889,422, compared to $19,686,436 in the same period of 2025. Interest income for the nine-month period was $44,922, down from $150,943 in the prior-year period.

The company's balance sheet as of September 30, 2026, showed total assets of $3,424,359, down from $6,341,868 at December 31, 2025. Cash and cash equivalents declined to $2,150,946 from $3,085,741 over the same span. Net cash used in operating activities for the nine months ended September 30, 2026, was $11,536,528. The filing noted that net proceeds from the sale of common stock and warrants totaled $8,614,209, and net proceeds from warrant exercises were $1,980,524 during the nine-month period. As of November 12, 2026, the registrant reported 544,453 shares of common stock issued and outstanding.

What Was Disclosed

GeoVax Labs filed its quarterly report covering the period ended September 30, 2026, disclosing continued net losses, no revenue, reduced cash, and a rising accumulated deficit, alongside significant increases in shares outstanding due to stock and warrant issuances.