Evaxion(US:EVAX)2021-04-06 16:00Financial Reporting - The company reported a fair value of each warrant grant as of December 31, 2020, estimated at DKK 56.75 and USD 9.35[1091]. - The company has a contingent liability related to CRO agreements of $0.2 million for the year ended December 31, 2019, and nil for 2020[1100]. - The company entered into a license agreement in June 2020, triggering a milestone payment of $35,000, with potential future payments between $70,000 to $250,000[1102]. - The company does not have any material off-balance sheet arrangements as of December 31, 2020[1100]. - The fair value of ordinary shares is determined by the board of directors, considering various factors, as there is no public market for the shares prior to the IPO[1094]. Lease and Contracts - A 10-year lease was signed in September 2020, with an initial monthly payment of $28,800, subject to annual increases of 2% to 4%[1102]. - The company has entered into contracts with Clinical Research Organizations for clinical trials and pre-clinical research studies, which are legally binding[1102]. Development Stage and Risks - The company expects to remain in the development stage for the upcoming year, making trends related to production and sales not applicable[1100]. - The company has no exposure to material interest rate risk as it does not hold any variable interest rate loans[1097]. - The foreign exchange loss for the years ended December 31, 2020, 2019, and 2018 was immaterial, with a 10% change in foreign exchange rates expected to have no material impact on operating results[1096].