Q3 2025 Evaxion A/S Earnings Call Transcript
Key Points
- Evaxion AS (EVAX) has extended its cash runway to the second half of 2027, supported by a $7.5 million option exercise fee from MSD and additional capital market funding.
- The company has achieved significant milestones, including the in-licensing of EVXB3 by MSD, marking the first AI-discovered vaccine candidate licensed by a major pharma company.
- Evaxion AS (EVAX) presented encouraging two-year clinical efficacy data for EVX01, showing a 75% objective overall response and sustained responses in 11 out of 12 patients.
- The AI immunology platform has been enhanced with an automated vaccine design module, reducing design time and accelerating development timelines.
- The financial position has been strengthened with activities amounting to $31.8 million, including a debt conversion with the European Investment Bank and MSD out-licensing, improving equity and cash flow.
- Market uncertainty is affecting ongoing partnership discussions, potentially impacting future collaborations.
- The evaluation period for EDXB2 has been extended, indicating delays in decision-making by MSD.
- Operating expenses remain a concern, although they are slightly below last year, they are still at the same level as the previous quarter.
- The company has removed the EVXO2 program from active development, indicating a potential setback in their pipeline.
- There is uncertainty regarding the timing of partnership deals, as ongoing dialogues have not yet resulted in finalized agreements.
Hello and welcome to the Evaction Business update and 3rd quarter 2025 financial results. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a telephone question, please press 11 on your keypad to join the queue. To withdraw your question, press 11 again.
Please be advised that today's conference is being recorded.
I would now like to hand over to Birgitte Rønø, interim CEO and CSO. Please go ahead.
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Thank you. Good morning and good afternoon, and thank you all for joining our Q3 2025 business update and financial resource conference call.
I'm Vigito Rohne, Chief Scientific Officer and interim CEO of Election.
I'm joined today by Summer Smith, Chief Financial Officer, and Ms. Kromborg, Vice President of Investor Relations and communications.
I'll begin by walking through the agenda for today's presentation.
I'll start with
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