Evaxion Biotech A/S Adr ( (EVAX) ) has released its Q4 earnings. Here is a breakdown of the information Evaxion Biotech A/S Adr presented to its investors.
Evaxion Biotech A/S is a clinical-stage TechBio company based in Copenhagen, Denmark, that specializes in developing AI-powered vaccines for cancer and infectious diseases through its proprietary AI-Immunology™ platform.
In its latest earnings report, Evaxion Biotech announced significant progress in its business development, research, and financial activities for the year 2024. The company highlighted its partnership with MSD on vaccine candidates, advancements in its cancer vaccine pipeline, and improvements to its AI-Immunology™ platform.
Key financial metrics showed a revenue increase to $3.3 million for 2024, primarily due to a licensing agreement with MSD, while the net loss decreased to $10.6 million compared to the previous year. The company also strengthened its financial position with a successful public offering, raising approximately $17 million. Additionally, Evaxion reported a decrease in R&D and administrative expenses, contributing to a reduced net loss.
Looking ahead, Evaxion remains focused on executing its strategic milestones for 2025, including advancing its cancer vaccine trials, expanding its AI-Immunology™ platform, and pursuing new business development agreements. The company aims to continue creating long-term value through its multi-partner strategy and innovative vaccine development efforts.