Q4 2024 Evaxion Biotech A/S Earnings Call Transcript
Key Points
- Evaxion Biotech AS (EVAX) entered into a transformational partnership with MSD in September 2024, which is tracking well towards potential option exercise in the second half of 2025.
- The company presented convincing one-year data for the EVX-01 Phase 2 trial, showing a 69% overall response rate and significant tumor reduction in patients.
- Evaxion Biotech AS (EVAX) has extended its cash runway to mid-2026 through public offerings and investments from MSD Global Health Innovation Fund.
- The company has developed a new precision cancer vaccine concept using its AI-Immunology platform, targeting nonconventional endogenous retroviruses.
- Evaxion Biotech AS (EVAX) is on track to achieve significant milestones in 2025, including the selection of lead antigens for its CMV vaccine candidate and the potential generation of two new business agreements.
- The company received a delisting determination from NASDAQ in 2024, although it was later withdrawn.
- Evaxion Biotech AS (EVAX) recorded a net loss of $10.6 million for 2024, despite improvements in revenue and cost optimization.
- The conversion of a EUR3.5 million loan from the European Investment Bank into equity has been delayed to the second quarter of 2025.
- The collaboration with Expression Biotechnologies ended, requiring Evaxion Biotech AS (EVAX) to find new solutions for antigen production.
- There is uncertainty around the data needed for potential transactions, as partners await results from similar trials by other companies like Merck and Moderna.
Good day, and thank you for standing by. Welcome to the Evaxion Biotech business update full year 2024 conference call and webcast. (Operator Instructions) Please note that today's conference is being recorded.
I would now like to hand the conference over to your speaker, Christian Kanstrup, CEO. Please go ahead.
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Thank you so much, and good morning, and good afternoon to all of you, and a very warm welcome to this Evaxion full year 2024 business update call. I'm Christian Kanstrup, CEO of Evaxion. With me today, I have Birgitte Rono, our Chief Science Officer; Thomas Schmidt, our Chief Financial Officer; and Mads Kronborg, our VP of Investor Relations and Communications.
And I think it's fair to say that 2024 was a super exciting year for Evaxion with lots of achievements throughout the year, and we are looking very much forward to be giving you an update on the year. And the agenda and what we intend to cover.
First of all, I will
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