
Core Insights - Evaxion A/S is progressing well with its AI-Immunology™ powered vaccine development, maintaining operational momentum and aiming to achieve 2025 milestones [2][5][11] Business Highlights - The company is on track to present two-year clinical data for its personalized cancer vaccine EVX-01 at the ESMO Congress on October 17, 2025, which is expected to attract potential partners [6][7] - Evaxion has received a grant from the Gates Foundation to explore a new sub-unit vaccine against polio, highlighting external interest in its AI-Immunology™ platform [9][10] - The R&D pipeline has been expanded with the addition of EVX-B4, targeting Group A Streptococcus, showcasing the platform's scalability [10] Financial Update - As of June 30, 2025, cash and cash equivalents increased to $14.7 million from $6.0 million at the end of 2024, providing a cash runway until mid-2026 [16] - Revenue for the second quarter of 2025 was $37 thousand, a decrease from $154 thousand in the same period last year, primarily due to changes in collaborative agreements [17] - The net loss for the second quarter of 2025 was $4.8 million, an improvement from a net loss of $6.2 million in the same period of 2024 [21] R&D and Clinical Trials - The phase 2 trial for EVX-01 has completed patient treatment, with three-year data expected in 2026 following a one-year trial extension [8][7] - The company is actively engaged in preclinical activities and has received recognition for its AI-Immunology™ platform, which is applicable to over 100 diseases [9][10] Business Development - Ongoing discussions with MSD regarding the EVX-B2 and EVX-B3 programs may lead to option exercises in the latter half of 2025, with potential milestone payments for Evaxion [11][12] - The company aims to secure at least two new partnership deals in 2025, despite challenges posed by current financial market conditions [13] Capital Structure - An agreement with the European Investment Bank (EIB) converted €3.5 million of debt into equity, improving equity by $4.1 million and enhancing financial flexibility [14][15]