Core Insights - Evaxion A/S, a clinical-stage TechBio company, has developed novel vaccine design concepts for polio in collaboration with the Gates Foundation, utilizing its AI-Immunology™ platform [1][7] - The new polio vaccine concepts aim to combine the strengths of existing vaccines, addressing their shortcomings and enhancing the potential for polio eradication [2][3] - Evaxion will present these concepts at the World Vaccine Congress in Washington D.C. from March 31 to April 2, 2026 [1][6] Vaccine Development - Current polio vaccines are based on inactivated or attenuated virus versions, which have limitations in certain settings [2] - The AI-Immunology™ platform has enabled the development of hybrid capsid designs and de novo B-cell antigen approaches for the new polio vaccine [7][8] - Initial results from the new vaccine concepts support further development and potential collaboration opportunities [4] Additional Programs - Evaxion will also present data from its EVX-V1 program targeting Cytomegalovirus (CMV), which combines novel AI-discovered antigens with optimized versions of established CMV vaccine antigens [5][7] - The multi-targeted strategy of EVX-V1 is expected to enhance the protective potential of the future vaccine [5] Presentation Details - The presentation on the novel poliovirus vaccine will take place on April 1, 2026, at 16:40 ET, and will be led by Thomas Trolle, PhD [6] - An abstract on AI-powered target discovery for the CMV vaccine will be presented on April 2, 2026, at 10:25 ET by Pär Comstedt [6]

Core Viewpoint - Evaxion A/S is set to hold its Annual General Meeting on April 16, 2026, focusing on its innovative AI-Immunology™ platform for vaccine development [1][2]. Company Overview - Evaxion is a clinical-stage TechBio company that utilizes its proprietary AI-Immunology™ platform to develop novel vaccines targeting cancer and infectious diseases [2][3]. - The company has a team of over 40 experts involved in the entire value chain from target discovery to clinical development [3]. Product Pipeline - Evaxion has developed a clinical pipeline that includes both personalized and off-the-shelf cancer vaccine candidates, as well as prophylactic vaccine candidates for infectious diseases [3]. - The vaccine candidates aim to address high unmet medical needs, demonstrating the company's commitment to transforming patients' lives through innovative treatment options [3].

Core Insights - Evaxion A/S, a clinical-stage TechBio company, is set to present two abstracts at the AACR Annual Meeting in April 2026, focusing on its AI-Immunology™ platform and personalized cancer vaccines [1][6]. Group 1: Abstract Presentations - The first abstract will present new biomarker and immunogenicity data for the personalized cancer vaccine EVX-01, which is currently being evaluated for advanced melanoma treatment [2][3]. - The second abstract will discuss the identification of endogenous retrovirus-derived neoantigens for personalized vaccines targeting glioblastoma, a type of brain cancer with limited treatment options [4][6]. Group 2: Clinical Trials and Collaborations - The data for EVX-01 comes from a phase 2 trial that combines the vaccine with MSD's KEYTRUDA® therapy in patients with advanced melanoma, where each vaccine is tailored to the individual patient's biology [3]. - Evaxion will also engage in the AACR Oncology Industry Partnering event to explore potential business partnerships and scientific collaborations [4][6]. Group 3: Company Overview - Evaxion utilizes its proprietary AI-Immunology™ platform to develop novel vaccine candidates for cancer and infectious diseases, emphasizing rapid and efficient target discovery and drug design [7]. - The company has a clinical pipeline that includes both personalized and off-the-shelf cancer vaccine candidates, addressing significant unmet medical needs [7].

Financial Data and Key Metrics Changes - The company reported a net loss of $7.7 million for 2025, an improvement compared to the previous year [25] - Cash position at the end of the year was $23 million, extending the cash runway into the second half of 2027 [26] - Total cash inflow for the year amounted to $32 million, driven by public offerings and the exercise of investor warrants [21][22] Business Line Data and Key Metrics Changes - The EVX-01 program, a personalized cancer vaccine, showed a high objective response rate of 75% and a complete response rate of 25% in a two-year phase 2 study [11] - The EVX-04 program for acute myeloid leukemia (AML) demonstrated strong preclinical evidence, with 16 optimal ERV antigen fragments identified [14] - The EVX-B2 program for gonorrhea retained full global rights, with strong preclinical data indicating significant protection in mouse models [16] Market Data and Key Metrics Changes - The company has seen significant interest in its AI-Immunology platform from various parties, including collaborations with MSD and The Gates Foundation [4][7] - The autoimmune disease market is being explored, with over 14 million patients affected annually in the U.S. [8] Company Strategy and Development Direction - The company aims to optimize its focus on assets that will add the most value, particularly in oncology and infectious diseases [34] - There is a commitment to deriving value from both the platform and pipeline assets through partnerships [9] - The AI-Immunology platform is being investigated for applications in autoimmune diseases, with plans to identify key indications for development [8][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the AI-Immunology platform and its ability to generate meaningful clinical responses [33] - The company is positioned to advance through 2026, with ongoing discussions for potential partnerships [28] - Management highlighted the importance of building relationships and credibility with large pharmaceutical companies [62] Other Important Information - The company received recognition from the Galien Foundation for advances in AI in human health [6] - The automated vaccine design module launched in October 2025 enhances the design process, reducing costs and development time [19] Q&A Session Summary Question: Changes to strategy under new CEO - The fundamentals of the company remain strong, with a focus on optimizing value in oncology and infectious disease assets [34] Question: Regulatory submission for EVX-04 - The company is preparing for clinical trials and believes initial proof of concept will attract partner interest [36] Question: Partnering efforts for EVX-01 - The company is seeing interest in the cancer vaccine space, particularly due to strong clinical data and translational insights [46] Question: Application of AI-Immunology in autoimmune diseases - The company is analyzing prevalent autoimmune diseases to determine the best fit for its platform [76]

Financial Data and Key Metrics Changes - The company reported a net loss of $7.7 million for 2025, an improvement compared to the previous year [25] - Cash position at the end of the year was $23 million, extending the cash runway into the second half of 2027 [26] - Total cash inflow for the year amounted to $32 million, driven by public offerings and the exercise of investor warrants [21][22] Business Line Data and Key Metrics Changes - The EVX-01 program, a personalized cancer vaccine, showed a high objective response rate of 75% and a complete response rate of 25% in a two-year phase II study [11] - The EVX-04 program for acute myeloid leukemia (AML) demonstrated strong preclinical evidence, with 16 optimal ERV antigen fragments identified [14] - The EVX-B2 program targeting Neisseria gonorrhoeae retained full global rights, with strong preclinical data indicating significant protection in mouse models [16] Market Data and Key Metrics Changes - The company has seen significant interest in its AI-Immunology platform from various parties, including collaborations with MSD and The Gates Foundation [4][5] - The autoimmune disease market is being explored, with over 14 million patients affected annually in the U.S. [8] Company Strategy and Development Direction - The company aims to optimize its focus on assets that will add the most value, particularly in oncology and infectious diseases [34] - There is a commitment to deriving value from both the platform and pipeline assets through partnerships [9] - The AI-Immunology platform is being investigated for applications in autoimmune diseases, with plans to identify key indications for development [8][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the AI-Immunology platform and its ability to generate meaningful clinical responses [32] - The company is positioned to advance through 2026, with ongoing discussions for potential partnerships [28] - Management highlighted the importance of building relationships and credibility with large pharmaceutical companies [62] Other Important Information - The company received recognition from the Galien Foundation for advances in AI in human health [6] - The automated vaccine design module launched in October 2025 significantly reduces costs and development time [19] Q&A Session Summary Question: Changes to strategy under new CEO - The CEO noted that while there are no fundamental changes to strategy, there is a sharpening of focus on high-value assets [34] Question: Regulatory submission for EVX-04 - The CEO indicated that the company is preparing to take EVX-04 into the clinic for initial proof of concept [36] Question: Partnering efforts for EVX-01 - The CEO mentioned that strong clinical data and translational insights are key to driving interest from potential partners [46] Question: Application of AI-Immunology in autoimmune diseases - The management confirmed ongoing analysis to identify the most prevalent autoimmune diseases for potential development [76]

Financial Data and Key Metrics Changes - The company reported a net loss of $7.7 million for 2025, an improvement compared to the previous year [24] - Cash position at the end of the year was $23 million, extending the cash runway into the second half of 2027 [25] - Total cash inflow for the year amounted to $32 million, bolstered by public offerings and the exercise of investor warrants [19][20] Business Line Data and Key Metrics Changes - The EVX-01 program for advanced melanoma showed a high objective response rate of 75% and a complete response rate of 25% based on 2-year phase 2 data [10] - The EVX-04 program for acute myeloid leukemia (AML) demonstrated strong preclinical evidence, with 16 optimal ERV antigen fragments identified [12] - The EVX-B2 program targeting Neisseria gonorrhoeae retained full global rights, with strong preclinical data indicating significant protection in mouse models [14] Market Data and Key Metrics Changes - The company has seen significant interest in its AI-Immunology platform from various parties, including collaborations with MSD and The Gates Foundation [4][6] - The autoimmune disease market is characterized by over 14 million patients annually in the U.S., presenting a significant opportunity for the company's platform [7] Company Strategy and Development Direction - The company aims to optimize its focus on assets that will add the most value, particularly in oncology and infectious diseases [32] - The AI-Immunology platform is being investigated for applications in autoimmune diseases, with plans to identify key indications for development [51] - The company is committed to deriving value from its platform and pipeline assets through partnerships [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the AI-Immunology platform and its ability to generate meaningful clinical responses [30] - The company is positioned to advance through 2026, with ongoing discussions for potential partnerships [27] - Management highlighted the importance of building relationships and credibility with large pharmaceutical companies [60] Other Important Information - The company received recognition from the Galien Foundation for its AI advances in human health [5] - The automated vaccine design module launched in October 2025 enhances the design cycle, reducing costs and development time [18] Q&A Session Summary Question: Changes to strategy under new CEO - The CEO noted that the fundamentals of the company remain strong, with a focus on optimizing value in oncology and infectious disease assets [30] Question: Regulatory submission for EVX-04 - The CEO indicated that while initial proof of concept is important, further validation data will strengthen the value proposition for external partners [34] Question: Partnering efforts for EVX-01 - The CEO mentioned that strong clinical data and translational insights are key to driving interest from potential partners [41] Question: Autoimmune disease strategy - The company is analyzing prevalent autoimmune diseases to identify suitable indications for its platform [72]

Core Insights - Evaxion A/S experienced a transformational year in 2025, achieving significant milestones that strengthened its strategic, scientific, and financial position [2][30] - The company has cash reserves to fund operations into the second half of 2027, allowing for continued development of its AI-Immunology™ platform and R&D pipeline [2][27] Business Highlights - Key achievements in 2025 include the historic licensing of the infectious disease vaccine candidate EVX-B3 to MSD, which provides potential future revenue of up to $592 million [9][31] - The company replenished its R&D pipeline with new candidates, including EVX-04 for acute myeloid leukemia and EVX-B4 targeting Group A Streptococcus [9][10] - Evaxion received the Galien Foundation Prix Bridges Award for advancements in medical technology and AI, reinforcing its leadership in AI-based target discovery [9][19] R&D Update - The personalized cancer vaccine EVX-01 showed a 75% objective response rate in advanced melanoma patients, with 92% of patients still responding at two years follow-up [16][18] - EVX-04, developed using AI-Immunology™, demonstrated the ability to elicit specific immune responses and prevent tumor growth in preclinical models [22] - The company is also advancing its EVX-V1 program targeting Cytomegalovirus, with promising data on novel antigens [23][24] Financial Overview - Evaxion reported a net loss of $7.7 million for 2025, an improvement of $2.9 million compared to 2024, attributed to higher revenue and lower operating expenses [30] - Revenue for 2025 was $7.5 million, primarily from the MSD option exercise and a grant from the Gates Foundation [31] - Cash and cash equivalents increased to $23.2 million by the end of 2025, significantly up from $6.0 million in 2024, bolstered by capital market activities [34] Future Milestones - For 2026, Evaxion plans to launch a new application for autoimmune diseases using AI-Immunology™ and prepare for a phase 1 trial of EVX-04 [5][13] - The company aims to present additional biomarker and immunogenicity data for EVX-01 and complete regulatory filings for EVX-04 by the second half of 2026 [8][10]

Financial Performance - For the years ended December 31, 2025, and 2024, the net foreign exchange impact was a $0.1 million loss and a $0.3 million gain, respectively[709]. - The company does not currently have any loans or holdings with variable interest rates, indicating no material interest rate risk exposure[710]. Agreements and Payments - In June 2020, a license agreement triggered a milestone payment of $35,000, with potential future payments ranging from $70,000 to $250,000[711]. - In July 2025, an agreement with EIB converted €3.5 million of its €7 million loan into equity, increasing equity by $4.1 million[721]. Development Stage - The company is currently in the development stage and expects to remain in that stage for the upcoming year, making trends related to production, sales, and inventory not applicable[712]. Financial Instruments - The exercise price for the 2023 SPA Warrants was converted from $7.07 to DKK 47.99, changing the classification from liability to equity[726]. - The 2025 Investor Warrants were classified as derivative financial instruments due to the exercise price being denominated in a currency other than the company's functional currency[728]. - An amendment to the 2025 Investor Warrants converted the exercise price from $2.71 to DKK 19.15, resulting in a change of classification from liability to equity[729]. Lease and Liabilities - The lease contract for premises customization has a repayment period of 8 years and an interest rate of 6% per annum[731]. - The company has assessed that the customization of premises is a leasehold improvement funded by the lessor, presenting a corresponding liability for the loan from the lessor[731].

Core Viewpoint - Evaxion A/S is experiencing a slight delay in the filing and publication of its 2025 annual report due to unforeseen technical issues with external vendors, unrelated to the report's content [1][2]. Company Overview - Evaxion A/S is a clinical-stage TechBio company that utilizes its proprietary AI-Immunology™ platform to develop novel vaccines targeting cancer and infectious diseases [4][5]. - The company has a team of over 40 experts involved in the entire value chain from target discovery to clinical development [5]. Technical Issues - The technical issues causing the delay are related to regulatory filing demands and do not affect the report itself [2]. - The conference call and webcast originally scheduled for the day of the report's release have been rescheduled to the following day, March 6, at 8:30 ET / 14:30 CET [2]. Pipeline and Development - Evaxion has developed a clinical pipeline that includes both personalized and off-the-shelf cancer vaccine candidates, as well as prophylactic vaccine candidates for infectious diseases [5]. - The company's vaccine candidates aim to address high unmet medical needs, reflecting its commitment to innovative and targeted treatment options [5].

Core Insights - Evaxion A/S is set to provide a business update and report its full year 2025 financial results on March 5, 2026, before the opening of Nasdaq CM [1] - The company's Executive Management will host a conference call and webcast on the same day at 14:30 CET/08:30 EST to present the update and results, along with a Q&A session [1] Company Overview - Evaxion is a clinical-stage TechBio company that utilizes its proprietary AI-Immunology™ platform to develop novel vaccines targeting cancer and infectious diseases [3][4] - The AI-Immunology™ platform enables rapid and efficient target discovery, drug design, and development, supported by a team of over 40 experts [4] Product Pipeline - The company has developed a clinical pipeline that includes both personalized and off-the-shelf cancer vaccine candidates, as well as prophylactic vaccine candidates for infectious diseases [4] - All vaccine candidates aim to address high unmet medical needs, reflecting the company's commitment to transforming patients' lives through innovative treatment options [4]