Evaxion Biotech A/S Adr ( (EVAX) ) has released its Q1 earnings. Here is a breakdown of the information Evaxion Biotech A/S Adr presented to its investors.
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Evaxion Biotech A/S, a clinical-stage TechBio company, leverages its AI-Immunology™ platform to develop innovative vaccines targeting cancer and infectious diseases.
In its first quarter 2025 financial report, Evaxion Biotech highlighted significant progress in its vaccine development pipeline, particularly with its lead asset, EVX-01, and announced a strong financial position with cash reserves extending into mid-2026.
Key achievements include the advancement of the EVX-01 phase 2 trial, which showed an 80% tumor-specific immune response, and the identification of new vaccine candidates for infectious diseases. The company also reported a substantial improvement in cash reserves due to successful capital market initiatives, despite recording no revenue for the quarter.
Financially, Evaxion reported a net loss of $1.6 million for the quarter, attributed primarily to changes in financial income. However, the company’s equity position improved significantly, and efforts to optimize costs and resource allocation are ongoing.
Looking ahead, Evaxion remains focused on executing its strategic plans, including advancing its clinical trials and strengthening partnerships, while maintaining financial stability and exploring new business development opportunities.