Evaxion Biotech (EVAX) has released an update.
Evaxion Biotech reports progress on its AI-Immunology-powered vaccine development and a healthy financial standing in Q1 2024, with a current cash position able to fund operations into Q1 2025. The company has seen reduced R&D and G&A expenses, resulting in a net income of $1.2 million this quarter, a significant improvement over the previous year’s net loss. Evaxion also addressed an equity deficiency notice from Nasdaq by agreeing to convert the currency of investor warrant exercise prices.
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