GeoVax Labs Inc. Q1 2023 Earnings Call
[music].
Good afternoon, and welcome everyone to the <unk> first quarter 2023 corporate update call.
My name is Jackie and I will facilitate todays call with me are David Dodd, Chairman and CEO , Mark Reynolds, Chief Financial Officer, Mark Newman Ph D Chief Scientific Officer, Kelly Mcgee M D.
M P H, Chief Medical Officer, and John Sharkey Ph D Vice President business development.
At this time all participants are in a listen only mode. A question and answer session will follow the formal presentation to ask a question. Please press star one on your telephone keypad.
As a reminder, this conference is being recorded.
At this time.
Turning the call over to Gabby Digger beam of G C capital.
Thank you. Please note the following certain statements in this presentation may constitute forward looking statements within the meaning of the private Securities Litigation Reform Act. These.
These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances.
Actual results may differ materially from those included in these statements due to a variety of factors, including whether G box can developed and manufactured product candidates with the desired characteristics in a timely manner and such products will be safe for human use gearboxes vaccines will effectively prevent targeted infections in humans.
Do you have access product candidates will receive regulatory approvals necessary to be licensed and marketed due back to Rafe is required capital to complete development of its products.
As development of competitive products that may be more effective or easier to use and do you have access products.
Are you that you'll be able to enter into favorable manufacturing and distribution agreements and other factors over which the geo that has no control.
Do you have actually assumes no obligation to update these forward looking statements and does not intend to do so more information about these factors is contained in <unk> filings with the Securities and Exchange Commission, including those set forth at risk factors and gearboxes Form 10-K. It is now my pleasure to introduce the chairman and CEO.
Oh gearbox, David Dodd.
Is it.
Good afternoon, and thank you for participating in the <unk> corporate update call.
At the start of 2023, we've expanded patient enrollment in support of the good depth in phase III clinical trial and the two phase III trials for GE.
Moving for us.
Also the third phase III clinical program in support of CMO for US one evaluating the vaccine as a booster among patients with chronic lymphocytic leukemia.
Viewed by the FDA and is expected to initiate soon.
Also recently expanded our rights related to the CMO for <unk> to include all mccaughan variance monkey pox in smallpox further differentiating our COVID-19 vaccine.
While the character development progress and good depth in the CMO for US one remain our priority. We are also focused angio M. B a R vaccine against Monkey pox in smallpox.
As well as the implementation of the transformative NBA continuous cell line manufacturing process.
Last year, we strengthened our balance sheet, adding $37 million during a very difficult investment environment, especially for the biotech industry.
This has enabled us to expand our current clinical programs, including additional sites, while also adding near term opportunities related to further development opportunities and catering are N V a manufacturing process and expanding our oncology programs.
We expect that our cash position will support our increased clinical program expansions and other initiatives through the remainder of this year.
And the answer we will evaluate opportunities to further strengthen our balance sheet, resulting from supported stock activities business development opportunities and non dilutive opportunities related to government.
NGL funding.
Yeah.
<unk> is a cancer therapy currently in its expanded multi site evaluation among patients suffering from advanced head and neck cancers.
The product has received orphan drug designation in funding for the current clinical trial, when the FDA orphan drugs clinical trials program.
Our target population for the initial indication of <unk> head and neck cancer patients, who are receiving palliative care, having failed other therapies and medical interventions.
There are approximately 67000, new cases of head and neck cancers annually in the U S and approximately 13000 deaths annually, resulting from head and neck cancers. This represents our initial targeted patient population.
Worldwide. There are approximately 900000, new cases of head and neck cancers annually and approximately 400000 deaths patients suffering from advanced head and neck cancer represent a critical unmet medical need which we focus.
The FTA funding the initial 10 patient portion of the clinical program underscores the recognition of this critical unmet medical need.
Our focus is on completing the 10 patient study funded by the FDA. We anticipate completion of the initial 10 patient study yet this year, including a review of the results. We will review those results with the FDA along with our recommendation is for an expanded program. While also discussing with the FDA the potential for.
For an expedited BLA filings.
We're excited about the outlook and promise of good depth within advanced head and neck cancers as well as other opportunities related to the expanded use in other indications, we foresee significant opportunity addressing various tumors as model therapy, as well as potential combo therapy and John .
With other therapies, such as immune checkpoint inhibitors, we also.
Dissipate potential synergy with the <unk> Mark one tumor associated antigen approach.
Relative to commercialization, we anticipate partnering and collaboration and support of worldwide use for which business development activities have already been initiated.
We hold worldwide rights for the use of good depth and all indications the vast array of unmet medical needs with that oncology represent significant opportunities for <unk> to advance novel approaches addressing various cancer patient needs worldwide.
Throughout 2023, we are participating in various oncology conferences, some of which we expect good depth in presentations and with others could definitely partnering discussions.
Yeah.
<unk> CMO for US one of our next generation COVID-19 vaccine differentiates from the current authorized COVID-19 vaccines and targeting both the antibody and so you have four arms of the immune system, focusing on providing a more robust and durable protection in the current authorized vaccines. This is critically important.
In addressing the high risk populations of immune compromised individuals for whom the current authorized vaccines monoclonal antibodies are inadequate.
Such populations include those with various blood cancers renal disease sickle cell anemia, HIV positive autoimmune diseases, such as lupus and those are the immune suppressive therapy.
In general patient groups with a beta and immune systems unable to respond adequately to approved mrna vaccines are at such high risk.
In the U S. There are approximately 12 to 15 million individuals within this overall population with over 200 million worldwide.
There is a major critical need for next generation COVID-19 vaccines to support so.
Such individuals and we believe that CMO for US one is the leading next generation vaccine in clinical development.
Yes.
A recently published article in the New England Journal of Medicine highlights the critical need for a vaccine to induce both antibodies and T cells for optimal protection against Sars Cov two infection.
Mo for US one is specifically constructed to include the spike protein and the nucleocapsid protein and to induce a broader focused immune response specific to those proteins oldest sars COVID-19 two virus.
Clinical valuation demonstrated the CMO for S. One does in fact reduce.
Both strong antibody and T cell responses against both the Spike and nuclear capsid proteins. The results of this clinical study were reported last year in the lancet microbe publication of the phase one data.
The induction of T cell immune response is especially critical among those patient populations, who have immune systems with depleted ability to mount effective antibody responses.
New safety and immune response data from the Phase II trial were presented at the World vaccine Congress in Washington D. C. During April 2023, highlighting the potential effectiveness of this vaccine in patients undergoing different types of treatment, where hematologic cancer clinical testing of this vaccine continues.
To provide compelling data supporting the development and ultimate use and the targeted patient populations.
While the noise of Covid seems to have died down Sars Covid two continues to evolve with threatening variance of concern. It is well accepted that the current authorized vaccines are not sufficiently protective and the durability is unsatisfactory.
In fact, just a few weeks ago, the White House announced project Nextgen, a $5 billion initiatives the follow on from operation Warped speed.
Seeking COVID-19 vaccines with enhanced breadth of protection against variance and improve durability, particularly being interested in novel vaccine candidates and clinical trials are capable of entering clinical trials within the next nine months.
We believe that CMO for <unk> as the leading example of the desired next generation vaccines.
We have considerable interest both domestically and internationally and participating in our clinical development program. We believe that an opportunity for an expedited regulatory path will likely exist due to our focus on high risk populations unserved by the current COVID-19 vaccines as well as the monoclonal antibody therapies also.
We anticipate partnering collaborations in support of worldwide commercialization and distribution.
Our focus for the remainder of 2023 includes accelerating efforts in support of good depth in the CMO Forest, one phase III clinical programs advanced state of the <unk> MBA vaccine specific for monkey pox in smallpox into development and further advancement of our program focused on improved N V.
Manufacturing processes.
<unk> are expected at various scientific and medical conferences the update the progress on both the depth and CMO for echelon.
We anticipate reporting further preclinical information related to the use of the good depth in technology used in conjunction with immune checkpoint inhibitors, yet this year.
Regarding J O N V is a vaccine against monkey pox in smallpox our intent is to be the first and primary U S. Based supplier of an M. B a N V E based vaccine to protect against any thoughts or monkey parts of smallpox, providing expanded supply and access worldwide, especially relate.
Mid to low and middle income countries, which have consistently experienced significant difficulty in the supply of many critical vaccine.
We are advancing this initiative and look forward to reporting progress quarterly.
Last year 2022, we strengthened our balance sheet, adding 37 million during a time with many biotech firms.
Following programs and our people we feel that our capital development success is reflected in investor support and belief in the value and growth opportunities underway at <unk>. We continue to receive strong interest related investment capital, which will evaluate but we're focused on execution towards our 2023.
<unk> strengthening shareholder value and achieving critical reporting milestones for our development programs now I'd like to turn the presentation over to Mark Reynolds <unk>, Chief Financial Officer for a review of our recent results and financial status Mark.
Thank you David I'll begin with a brief overview of our income statement.
I'll first point out that we reported no grant revenues during 2023 as.
As compared to a small amount in 2022, which is reflective of the wind down of our grant from the U S Army for our Lassa fever preclinical program I will note. However that we are actively seeking additional non dilutive to government funding for our preclinical and clinical development programs and we expect this to be an important component of our financing mix in the few.
Sure.
Research and development expenses were $2 8 million in the first quarter of 2023 versus $1 3 million in 2022.
Increase was planned unexpected and is associated with clinical trial activity for our CMO for us one in conducting programs.
Increase was also reflective of higher personnel and consulting costs as we staffed up during 2022.
G&A expenses were $1 5 million in the first quarter of 'twenty, three as compared to $1 2 million in 'twenty two with the increases also show shade with higher personnel and consulting.
As well as patent costs. So overall net loss for the first quarter of 2023 was $4 million or <unk> 15 per share versus $2 4 million in 2022, or <unk> 34 per share again with the increase was primarily associated with.
With the ramp up of organizational infrastructure and other costs associated with the CMO for S. One and conducting clinical trials.
Turning now to the balance sheet, our cash balances at March 31 were $23 9 million as compared to $27 6 million at December 31.
Change in cash was reflective of $3 8 million used in operating activities. There were no significant financing or investing activities during the first quarter.
Our outstanding common shares now stand at $26 4 million.
Funding, our three ongoing phase II clinical programs is obviously, the most important use of our cash and our top financial priority. Our cash runway is sufficient to fund these programs through the milestones expected to occur over the course of this year as David previously mentioned, we believe the advancement of our clinical programs will create an attractive.
Investment opportunity for new fund raising activities and I'll be happy to answer any questions. During the Q&A period. So I'll now turn the call back over to David.
Thank you Mark My colleagues and I will now answer your questions joining us for the Q&A session are doctors, Mark Newman, Kelly Mckee and John <unk>, Our Chief Scientific Officer, Chief Medical Officer, and Vice President business development, respectively. I will now turn the call back to the operator for instructions on the question and answer period.
Certainly at this time, if you'd like to ask a question. Please press star one on your telephone keypad.
Pause for a moment to compile the Q&A roster again that is star one on your telephone keypad to ask a question button.
Okay.
Jason Kolbert with Dawson James Your line is open.
Jason Kolbert your line is open.
I'm here. Thank you great job at conserving conserving capital resources and focusing on what's important clinical expenses something that we couldnt say about this company a couple of years ago. One really interesting question I have it is.
What kind of discussions are you having.
With the government.
What they are looking for in terms of our next generation Covid vaccine, they're probably thinking something ubiquitous for the population, but have you caught their attention and have you had any of those discussions with them yet.
Sure Jason This is David Thanks for your question.
The 10th of April the Federal government issued the RFP request for information related to project next gem and that specifically outlined what they were looking for relative to criteria and it was what I actually stated during during my.
Comments about durability of breath of protection and specifically focused on products that were already in the clinic or could enter the clinic within nine months, so they're looking and recognizing that durability is a key issue that the breadth of protection.
As an issue and that also you know their populations out there for whom curb vaccines and therapies are inadequate. So they laid that out the process for the RFID is that you completed submit it which we did very quickly.
Very well prepared I'd say response to it.
They will go through those and then decide with whom they're going to follow up for further information at this stage there was no discussion or providing of information in terms of how much money are you seeking for what purposes. We have that all outline now to address the question we have had on.
Going discussions.
With.
Individuals within the federal government that includes those who are <unk>.
Specifically part of the review team et cetera, One project Nextgen, we've been having such discussions for some time now.
And it had some even more recently on that.
And have discussed with them is shared with them what we have accomplished thus far and what we are proceeding towards with the continuous avian cell line manufacturing process, which seem to really capture some interest.
Ultimately.
We'll have to see how they respond the the process of submitting a <unk>.
The response to the RFID is.
Closed on May the 25th.
So so right now it's still different companies are submitting again, we submitted ours very very quickly we prepared for it et cetera, and so we're in the waiting we still are engaging in outreach and discussion with various federal government individuals some of whom are part of project Nextgen and some who are.
Part of related entities, making sure that they're aware not only of <unk>, but what we have already accomplished where we are in the process of clinical development and what our plans are in terms of moving forward with this new manufacturing systems. So I hope that answers. The question. So the answer is yes, we have had dialogue.
But we're also working through the process they've laid out also but we're also working directly through other avenues to make sure we reach out to people.
Perfect. Thank you.
David If you don't mind could you just touch on the sequence of milestones I know you did mentioned that earlier, but.
Given your CFO is comments I'd, just like to understand how they lay out over the next 12 months.
Okay.
Excuse me.
With good depth and now we have we have eight of the 10 patients in the program. We are we had expanded as you would call to three sites. So we anticipate bringing in the the last two for this initial 10 patient trial that's.
That's the one that's been funded fully by the by the FDA. Our plan is to have that accomplished sooner rather than later, yet clearly yet this year to review the data we've already been in discussions with our.
Advisors about the expanded program that we would propose to the FDA. So we anticipate yet this year to have reviewed the data to discuss the data and hopefully initiated and had initial discussions with the FDA.
Yeah.
Perfect. Thank you so much we really we appreciate all these updates.
Okay. Thank you.
Vernon Bernardino with H C. Wainwright your line is open.
Hi, David and Mark everyone. Thanks for taking my question and congrats on the process, especially with the.
Our manufacturing for NV.
Vaccine.
Therapies, it's a really important piece.
A lot of my questions were asked by Jason.
So I don't have anything other than just wanted to get your take as you know.
On the Federal Register.
So you see us.
The IP is going to have a meeting next month and one of the things David.
Intensely discussed is.
And Fox, formerly called Monkey Pox I was wondering if there's anything there as well as the other vaccine recommendations that they may have that could help you with your programs. What are you looking for and what made you change.
As far as your programs are concerned such that a.
Candidates could be advanced into the clinic.
The near term future success next six to 12 months.
Thank you Vern.
We're not aware of anything on that agenda that relates to what we're doing but I'm going to ask John Sharkey two way in since he's leading R. R. N V. A vaccine program that a specific place.
What we in licensed or acquired the rights to and are developing against <unk> and smallpox with John .
Sure Hey, Thanks for the question Brian .
Sure.
As we've mentioned before our desire for the MBA is.
As a multi about the small box has become a <unk> U S based manufacturer.
Eventually switch still continue with satellite platform. So that we can manufacture on large scale and quick timeframe.
Our regulatory strategy as we mentioned is that there is a number of countries outside the U S.
That were on April one are still arent able to get access to the NBA vaccine and so we see a market opportunity there.
Our strategy right now is engaging we have retained an outside regulatory.
Consulting group.
It is well known and respected in the states and we're putting together the strategy to see what regulatory agencies around the world would be open to working with us given the known safety and efficacy of MBA against smallpox a lumpy box to put together, we refer expedited path.
Way, whether that the accelerated pathway with that the biosimilar or whatever it is what pathways will be available to get approval from a well recognized regulatory agency that we could then you would then D O than in other countries that will be confident with that approval would now allow use of NBA within their territory.
Thats, our general strategy right now or in the.
We're past the information gathering we're beginning now to reach out the regulatory agents are engaged discussions with them about our thinking and how we would like to work with them to a salary.
The approval process to get this product to the market because we believe there is a need in many parts of the world.
Terrific Thanks for that information.
And as a follow up do you anticipate.
Making further progress in announcing progress on those kind of.
Hum.
Things you might get as far as what the governments are need.
Outside the U S outside of the Western World.
Such as Europe .
Later this year.
Yes, it will definitely be within the next few months.
We've looked at this as you know for a couple of months now and kind of reading. The regulations are working with our consultants. We have mapped out proposed strategies that we want to present to them as well as engage them and see what their thinking is on how we might adjust them or tweak dumber or is there a pathway, we may not be familiar with it they would be willing to work with us. So.
This is going to move quickly forward into the engagement with the regulators.
Perfect that's very exciting looking forward too.
Further news on that front and thanks for taking my question.
Youre welcome.
Kumar erosion with Roth capital Your line is open.
Thanks for taking my questions and congratulations on the progress.
Just to follow up on that have been.
Will you be enrolling more than 10 patients if they are cleaned.
By Q2.
And in terms of the interactions with the regulator.
Following those interactions how quickly do you think you can expand the program.
If the expectation back in the expanded program there will be which will include a checkpoint inhibitor. Thank you.
Okay, I'm going to ask Kelly Mckee, our chief Medical officer to provide some guidance on there and then he and John Sharkey May wanted to discuss the status related to the what is currently still preclinical, but with immune checkpoint inhibitors Kelly.
Yes, hi.
With regard to whether or not we would continue enrolling after we hit our current target of 10 patients I think that's it.
A bit of an open question we don't.
Have any current plans to do that but I think it would it would probably depend on.
Sure.
The dynamics of the of enrolment.
If we had an opportunity to add one or two additional patients.
Within a reasonable timeframe.
For example, if there are if our investigators have people identified that are sort of.
Waiting in willing and available to enroll without delaying.
The.
The final closure of the study then we would probably consider that but I think at the present time, we really.
Our targeting 10 10 total patients for this study did it close that to get the data reviewed in front of the regulators.
Furthering our discussions.
John do you want to comment some on the IC is and where that stands and what we'll learn.
Sure so.
The.
As David said, it's still in preclinical.
That will be.
The scheduling of the ICI combination, we'll get that then I think and Kelly can speak towards more is is still somewhat open our focus right now is to see the data from the 10 patients see what's actually there had discussions with the agency.
On what we could do to get good depth and approved as a monotherapy.
At what point, we would now roll in the ITI would that I think there's going to be very dependent on how that discussion goes with the regulatory agency preclinical data is.
Highly suggestive cause all of US never zero as you go from a small animal the human that there will be a synergistic effect between the two.
As discussed we have that with the regulator decide how in concert with them. How would you want to proceed and I'll, let Kelly at any other insight to that.
Yes.
Well only that I think we are very optimistic that this is going to be a.
<unk>.
That's sort of a major.
Advancement for our program.
You will aware of the success that.
Madonna and Merck, Japan with in in.
Frac crew melanomas.
There was some recent data on bladder cancer, where they have a.
Political virus paired up with a checkpoint inhibitor, which in many ways.
Is sort of similar to the concept conceptually similar to what we've got in mind.
Exposing neo antigens.
And so I think we're optimistic that this.
<unk> offers a potential for for us too.
Target <unk>.
<unk> with with <unk>.
Head and neck cancer and earlier stages of the disease as well as other solid tumor types with with this with is approved so.
We're going to move as quickly as we can.
Okay.
It's this but.
Again, it's going to depend on our discussions with the regulators but.
What's required for us to get there.
Okay. That's great. Thanks, so much.
James Molloy with Alliance Global Partners. Your line is open.
Hi, This is Laura infringed Jim Malloy. Thank you for taking my questions.
So for enrollment for the phase one two trial conduct and expect it to be completed soon this quarter. When should we anticipate you know our last patient in our last patient visit announcement.
Then also on top of the I see is that we're already mentioned in the previous question.
What might the protocol for the subsequent expanded trial it looks like.
Well, let's see the time and following the completion of the ongoing phase one two trial.
Let me just comment.
We once we have the 10th patient enrolled there are five cycles. So let's basically five months. So that gives you a time period, depending on when that when that 10th patient is enrolled then we look forward to them through the five cycles and then the evaluation of the data.
If we're successful and they come in the sooner they come in then the more likely as we will be able to see the results of the completion through the five cycles you know yet this year I mean, that's just arithmetic. So it depends all on that and that's what we're working on and Thats, obviously, when we expanded to the.
The three sites from the initial one that opened up greater opportunity to be able to move this along and complete this initial 10 patients study.
There's been no discussions about clinical protocol related to in conjunction or in combo therapy with ICIS, mainly because our focus is really on.
And determining if there is a basis, which we hope to see from the 10 patient to then look at it in an expanded phase II trial and that may be anywhere depending on what the final protocol is structured.
But less I think we're thinking less than 100 patients at all but again that'll be based upon the discussions we have reviewed the data I'll ask if Kelly I'd like to add anything at this point.
No I think that pretty much summarizes it.
Just just to note that.
Enrolling these patients as is.
It's not as simple as straightforward as it might appear on the surface.
Remember that.
Trial is targeting patients with SMA.
Essentially the terminal stages of their disease, so it's more or less palliative.
Therapy for these folks.
In order for us to find eligible patients they have exhausted all of their other therapeutic options and they have to be.
Healthy enough to two enrolled in the study that's going to take them through.
Again, six months five six months of treatment.
And we found it.
Those those patients tend to be few and far between.
So.
We're trying as hard as we can to get the get eligible patients.
Patients identified and enrolled with us.
A little bit longer than we had initially anticipated.
But as David said I mean, once we once we get this study fully enrolled.
<unk> data.
Analyzed and in front of the agency and have our discussions about.
What they would like to see.
For us to continue in this patient population and then what they would also like to see.
For us to take a take a sort of a parallel approach with the checkpoint inhibitor or potentially other other.
Combination strategies.
We'll just have to wait wait to see what how those discussions go I think.
Okay. Thank you and it'll be up and if the data supported it'll it'll be.
The priority for sure because we're we've been encouraged by the limited data that was in the phase one and where we are happy that we now have eight of them, but we need to get the 10, we'd need to analyze the data.
And reach agreement only expand that phase III program and then we will go full out with expanded sites and trying to move that as quickly as possible in parallel also.
With the other trials.
You updated the thank you.
Understood.
Just one more question so for your CMO Forest, one candidate as mentioned with the shifting landscape for COVID-19, new variance of marriage.
Does this change in any way the development for this candidate moving forward and then do you also think and they work equally as well against these new extremes.
Well, we don't know the ladder you know until we have some testing and we have evidence of it no.
The concept of Av.
Targeting both the antibody side and T cells through the spike protein in nuclear the capsid is is done to hopefully achieve a broader more robust type of protection and where are they.
The antibody alone.
Isn't sufficient more or less that that we can more than compensate for that by incorporating with the T cells and so that that's what we're hoping to demonstrate we did announce recently we have added the rights in terms of related to <unk>.
To the license agreement that we have and will continue to look at.
That is the current vaccine the CMO for S. One and also if we decide that we want to do some some alternate modifications because of a variance that that.
Begin to evolve that they may be significantly different. So we just have to stay tuned to that one thing. We do know is that the modifications that have been going on with the existing vaccines continue to provide us with.
The sort of inadequate vaccines for the for the breadth of populations and especially for those individuals have compromised immune systems and as we've discussed before we're focusing very heavily to differentiate by going after the populations that are underserved or not and not adequately served by the current <unk>.
<unk> vaccines and Thats the basis behind the restructure CMO for US one and we believe that the initial data. We're seeing shows that that is making a much broader are different. So we will keep you updated as data comes forward.
Got it thank you for taking the questions.
Thank you.
Okay.
Robert lawyer with noble capital markets. Your line is open.
Thank you well, John and Kelly gave a very good answer to my question about the ICI inhibitors in combination, but the question I still have is about the timing.
Of that announcement broke adaptive and based on the earlier comments with the five cycles and looking at the calendar. It looks as if an announcement might come maybe at the end of the year, but more likely first quarter is that what youre thinking.
Yes, yes, yes, Robert depending on what again, obviously when that 10th patient comes in et cetera, then than we are you know its just like we've always done on trials. When you know the length of the of the evaluation period, you would just map that out so well.
We're as anxious as everyone to.
Get these last two patients soon.
As Kelly mentioned it as he said.
These are patients who have failed everything there's not anticipated survival.
From this type of therapy, it's really can we affect the tumors and improve their quality of life. During this during this terminal period of their lives where their own palliative care.
Okay, great. Thank you very much.
Got it.
There are no further questions at this time I would like to turn the call back over to David <unk> for closing remarks.
Well, thank you and thank you everyone for participating in this update call and sharing and our achievements and progress and outlook.
We greatly appreciate your interest.
Sure.
Our biggest focus and greatest challenge is to to see an accelerated pace of patient enrollment getting two data milestones sooner. So we can talk about greater database of results at all and we will continue to stay focused on that that's what we're focused on good depth and Sam O Forest one.
The other development programs, we've talked about.
Our goal is that by doing this we'll be able to build shareholder value stakeholder value and of course, providing a motivated career development opportunities for our team.
We want to thank our board of directors, our staff, our advisors and all other parties, including some of you.
Who are who have been asking questions and continue to support advice and guide us towards achieving success with that we wish you all have a great evening I have a great weekend, great single mile and again. Thank you for your interest in <unk>.
This.
<unk> today's Geovax call. We thank you for your participation you may now disconnect.
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Yeah.
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