Evaxion(US:EVAX)2023-08-22 21:34Financial Data and Key Metrics Changes - Research and development expenses for Q2 2023 amounted to $2.9 million, a decrease of $1.2 million or about 29% compared to the same period last year [7] - General and administrative expenses increased by $0.6 million or 28% compared to the same period last year, primarily due to increased external costs and employee-related costs [30] - The net loss for Q2 2023 was $5.7 million compared to a loss of $4.8 million for the same period last year [86] Business Line Data and Key Metrics Changes - EVX-01, a personalized peptide-based cancer vaccine, showed promising results with eight out of twelve patients responding positively to the treatment [55] - EVX-02 demonstrated that all ten patients who completed the vaccination were relapse-free at the end of the trial, indicating a successful immune response [56] - EVX-03 is positioned as a next-generation personalized cancer vaccine that includes both neoantigens and endogenous retroviruses (ERVs) [28] Market Data and Key Metrics Changes - The company has $7.1 million in cash and cash equivalents as of June 30, 2023, which is expected to fund operations into December 2023 [8] - The company is in discussions for a partnership related to its staphylococcus aureus vaccine, EVX-B1, but no partnership has been finalized yet [89] Company Strategy and Development Direction - The company plans to submit a clinical trial application to start a Phase I study for EVX-03 in Q4 2023, contingent on securing additional funding of $5 million to $10 million [9] - The strategy includes early partnerships for infectious disease programs and advancing personalized cancer vaccines that can broaden the target population [84][28] Management's Comments on Operating Environment and Future Outlook - Management expressed enthusiasm about the results from their clinical trials, particularly the effectiveness of their AI technology in selecting neoantigens for personalized cancer vaccines [3] - The company aims to develop vaccines that improve cancer treatment and infectious disease prevention globally [65] Other Important Information - The company has signed an agreement with Global Growth Holding Limited for financial commitments totaling up to $20 million, subject to SEC approval [84] - The company is focusing on the development of EVX-03, which incorporates a genetic immune adjuvant to enhance immune response [60] Q&A Session Questions and Answers Question: How many patients are in the timing stage for the EVX-01 Phase 2 study? - All patients will have the boosting phase, with the timing section occurring between weeks 12 to 24 [16][17] Question: How are ERVs selected for the vaccine? - ERVs are selected based on their likelihood to induce a strong immune response, with a focus on matching the patient's immune system [18][95] Question: Will there be additional data presented at the end of the year for EVX-01? - The focus will be on interim data from the Phase 2 trial, with no additional clinical outcome data planned for the previously presented programs [41][20]