The following is a summary of the Evaxion Biotech A/S (EVAX) Q4 2023 Earnings Call Transcript:
Financial Performance:
Evaxion Biotech reported a net loss of $22.1 million in 2023, a slight reduction compared to the previous year.
Cash and cash equivalents as of year-end were $5.6 million with these funds projected to last until February 2025.
The company's R&D expenses dipped by 30% compared to 2022 to $11.9 million.
Furthermore, the company carried a debt of a $7 million EIB loan set to mature in Q1 2028.
Business Progress:
Evaxion has reached significant milestones in its R&D ventures and business strategy, most notably in the MSD vaccine collaboration and progress on its precision vaccine project.
Its Phase 2 trials for the EVX-01 personalized cancer vaccine have produced encouraging initial data.
The company is also developing a precision-based cancer vaccine with the next milestone of preclinical proof-of-concept slated for Q4 2024.
Evaxion has an upcoming product, the EDEN version 5.0 AI model. This could enhance their predictive capabilities for discovering novel vaccines for infectious diseases.
In its preclinical work, Evaxion sees positive prospects in ERVs related to future cancer vaccines, and it continues to refine predictive tools for patient responses to checkpoint inhibitors.
More details: Evaxion Biotech IR
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