Why Is GeoVax Stock Shining Today?

GeoVax Labs Inc GOVX announced data presentation from ongoing studies of its preventive vaccine against COVID-19.
The data were shared at the European Society of Medicine (ESMED) General Assembly.
First-generation SARS-CoV-2 vaccines were rapidly developed and have proven highly efficacious. The vaccines were designed to encode the prefusion stabilized Spike protein (S) to induce neutralizing antibodies.
However, potential limitations of narrowly focusing on S are becoming apparent with emerging variants that partially escape neutralization by vaccine-induced antibodies.
Hence, GeoVax used its novel Modified Virus Ankara - Virus-Like Particle (GV-MVA-VLP) platform to develop a design strategy for vaccines expected to induce broader immunity by including multiple structural and nonstructural proteins from the target pathogen.
The GV-MVA-VLP platform is known to elicit a balanced antibody and cellular response against a range of immunogens, possibly making immune escape against emerging variants less likely.
Price Action: GOVX shares are up 70% at $7.31 during the premarket session on the last check Friday.