Yesterday, GeoVax Labs, Inc. (OTC:GOVX) share price made another subsequent surprising move up on no news or promotions. GOVX is now already in the overbought area and technically could appreciate further today, yet the lack of news makes such jumps look very speculative. 
The session closed with a 41.18% increase at $1.68 for a share, while the trading volume was among the highest recently with 21,518 traded shares. The stock has very low dollar volumes, which could make it easily subject to market manipulations. GOVX had similar performance back in December last year and then it even led to the highest share price for the past 52 weeks of $2.25, but after that a sharp decline followed.
GeoVax Labs develops vaccines to prevent HIV for healthy individuals, and to potentially serve as therapy for already infected patients. Currently, the use of GOVX vaccine as HIV/AIDS therapy is in Phase 1/2 human clinical testing from which the results are expected in early 2012. At the same time, the preventative use of the vaccine is in Phase 2 clinical testing and at the beginning of the October GOVX announced the completion of the enrollment for the Phase 2a clinical trial, results are also expected next year.
At the end of June the company had only $668,000 in cash and equivalents, though it had no long-term debts and a working capital surplus. Short-term, the funds for the clinical trials should be secured as the company derives revenues under a five-year Integrated Preclinical/Clinical AIDS Vaccine Development grant.
The period of that grant expires in August next year and by that time $5.1 million were remaining under the grant as of end-June 2011. Longer-term, however, the funds do not seem secured at all. GeoVax Labs filed recently another amendment to its registration statement with the SEC. The initial registration statement is filed more than a year ago and according to it the company intends to raise up to $10 million through best efforts offering. For now, it looks like still no investors can be found.
