GEOVAX LABS, INC. ANNOUNCES NINE MONTH 2010

ANNOUNCES NINE MONTH 2010 FINANCIAL RESULTS

ATLANTA, GA, November 9, 2010 GeoVax Labs, Inc. (OTCQB/OTCBB: GOVX), an Atlanta-based

biopharmaceutical firm (the Company or GeoVax ) developing vaccines that prevent and fight Human

Immunodeficiency Virus (HIV) infections, today announced its financial results for the three and

nine months ended September 30, 2010.

GeoVax reported a net loss of $644,666 ($0.04 per share) for the three months ended September 30,

2010, compared to $230,815 ($0.02 per share) for the same period in 2009. For the nine months ended

September 30, 2010, the Company s net loss was $2,268,544 ($0.14 per share) as compared to

$2,440,977 ($0.16 per share) for the same period in 2009.

Net losses were partially offset by revenues related to the Company s grant from the NIH in support

of its HIV/AIDS vaccine development activities; such revenues were $1,163,288 and $4,239,017 for

the three month and nine month periods of 2010, respectively, as compared to $1,808,551 and

$3,271,506 for the three month and nine month periods of 2009, respectively.

As of September 30, 2010, the Company reported cash balances totaling $1,426,342, as compared to

$3,515,784 at December 31, 2009.

Dr. Robert McNally, PhD, GeoVax s President and CEO, commented, GeoVax continued to make solid

progress during the third quarter of 2010. Our Phase 2a clinical trial for the preventative

version of our HIV/AIDS vaccine is on schedule, with full patient enrollment expected by the end of

2010 and trial completion during 2011. Our Phase 1 clinical trial for the therapeutic version of

our vaccine, for treatment of HIV-infected individuals, is also progressing, as we continue to

actively recruit patients for this groundbreaking trial. We have screened numerous individuals for

meeting the stringent enrollment criteria for participation in this trial and have selected a

handful of candidates for continued evaluation. Once a candidate has achieved six months of stable

viral control while on drug treatment, they can then enter the trial and receive the first

vaccination. Our pipeline product, which uses an adjuvant to boost the immune system response, is

also moving rapidly through the development process. We have completed preliminary discussions

with the FDA and plan to submit an Investigational New Drug (IND) application in early 2011, with

the intention of beginning a Phase 1 human clinical trial by the middle of 2011. We are very

excited about the prospects for this program, as the preclinical data are very compelling.

Dr. McNally continued, Our primary focus is on accelerating our clinical programs with the

objective of generating the necessary data to demonstrate the efficacy in humans of our vaccine

candidates. To that end, we are also directing our efforts towards ensuring we have the financial

resources available to achieve our objectives and make the appropriate commitments to our programs.

The federal government continues to be a strong supporter of our efforts, through significant

support provided by the HIV Vaccine Trials Network (HVTN), funding through our Integrated

Preclinical/Clinical AIDS Vaccine Development (IPCAVD) grant from the NIH, and through the recently

awarded Qualified Therapeutic Discovery Project (QTDP) grant. We intend to supplement these funds

through our own equity financing activities.

Summarized financial information is presented below. Further information concerning the Company s

financial position and results of operations is included in its Quarterly Report on Form 10-Q filed

with the Securities and Exchange Commission.

About GeoVax Labs, Inc.

GeoVax is a biotechnology company developing human vaccines for diseases caused by HIV (Human

Immunodeficiency Virus that leads to AIDS) and other infectious agents. Our goals include

developing HIV/AIDS vaccines for global markets, overseeing the manufacture and testing these

vaccines under GMP/GLP conditions (FDA guidelines), conducting clinical trials for vaccine safety

and effectiveness, and obtaining regulatory approvals to move the product forward. All preventative

Phase 1 human clinical trials conducted to date tested various combinations and doses of our DNA

and MVA vaccines, their ability to raise anti-HIV humoral (antibody) and cellular (cytotoxic T

cell) immune responses, as well as, the vaccines safety. Successful results from Phase 1 testing

supported the initiation of the first Phase 2 testing. GeoVax s Phase 2 human trial began in

January 2009 and will ultimately involve 300 participants at sites in the United States and South

America. Recently GeoVax began enrolling patients in a Phase 1 therapeutic trial for individuals

already infected with HIV. For more information, please visit www.geovax.com.

Forward-Looking Statements

Certain statements contained in this release, including those relating to postponement of the

offering, as well as statements containing words like plans, expects, and other similar

expressions in this press release or the Company s other public communications, are forward-looking

statements that involve a number of risks and uncertainties. All such forward-looking statements

are subject to certain risks and uncertainties that could cause actual results to differ materially

from those in the forward-looking statements. These risks and uncertainties include, but are not

limited to whether: GeoVax can develop and manufacture its vaccines with the desired

characteristics in a timely and economic manner, GeoVax s vaccines will be safe for human use,

GeoVax s vaccines will effectively prevent AIDS in humans, GeoVax vaccines will receive regulatory

approvals necessary to be licensed and marketed, GeoVax raises required capital to complete vaccine

development, there is development of competitive products that may be more effective or easier to

use than GeoVax s products, GeoVax will be able to enter into favorable manufacturing and

distribution agreements, as well as other risks and uncertainties, such as those detailed from time

to time in the Company s Securities and Exchange Commission filings, including Risk Factors in

the Company s most recent Form 10-K. The Company does not undertake to update its forward-looking

At The Investor Relations Group:

James Carbonara / Jason Strominger

Janet Vasquez / Robin O Malley

Condensed Consolidated Statements of Operations Information

(amounts in thousands, except per share data)

Condensed Balance Sheet Information

(amounts in thousands)