GeoVax Secures $1M Revolving Loan, Appoints Three New Directors

GeoVax Labs, Inc. (Nasdaq: GOVX), a clinical-stage biotechnology company developing vaccines and immunotherapies for infectious diseases and cancer, has entered into an unsecured $1,000,000 Revolving Loan Agreement with Bowery Consulting Group Inc., dated October 23, 2026. The revolving loan facility provides for advances of up to $1,000,000, subject to the Lender’s approval, bears interest at 12% per annum, and matures 12 months from issuance. The agreement includes customary representations, warranties, indemnification provisions, and conditions precedent to borrowing. In connection with the loan, five directors—Randal Chase, Dean Kollintzas, Nicole Lemerond, Jayne Morgan, and John Spencer, Jr.—resigned, and Steven Brown, Tyler O’Brien, and Manpreet Uppal were appointed as directors, each nominated by the Lender. The newly appointed directors will serve until the earlier of the loan’s full repayment or their resignation under the agreement’s terms. The Board determined that each new director meets SEC and Nasdaq independence standards, and O’Brien and Uppal will join the Audit Committee alongside Dr. Robert McNally.

David A. Dodd, Chairman and CEO of GeoVax, commented, “Securing this financing is an important achievement for GeoVax, reinforcing our balance sheet and providing the working capital needed to support our operations.” He welcomed the new directors, citing their diverse experience and leadership, and expressed appreciation to the departing members. Dodd also highlighted the company’s focus on advancing its GEO-MVA clinical program, a Modified Vaccinia Ankara–based vaccine targeting mpox and smallpox, which is progressing under an expedited regulatory pathway with a planned pivotal Phase 3 trial in late 2026. GeoVax is also developing Gedeptin®, a gene-directed enzyme prodrug therapy for oncology, which has completed a Phase 1/2 trial in advanced head and neck cancer. Further details will be provided in a Form 8-K filed with the SEC. For more information, visit www.geovax.com.