Evaxion A/S (EVAX) Reveals Transcript of Its Q2 2025 Earnings Discussion

Evaxion A/S (EVAX) Reveals Transcript of Its Q2 2025 Earnings Discussion

Evaxion A/S, a Danish biotech company specialising in personalised cancer vaccines, held a Q2 2025 Earnings Conference Call on August 14, 2025. Mads Kronborg, the VP of IR and Communications, led the call.

During the call, Evaxion reported a net loss of approximately $4.8 million, or $(0.02) per basic and diluted share, which was an improvement compared to a $6.2 million loss in the same quarter of 2024. The operating loss stood around $4.3 million, with finance income and expenses reflecting changes related to derivative liabilities from investor warrants issued in January 2025.

Despite the continued losses, Evaxion showed financial stabilisation with improved equity and cash reserves. As of June 30, 2025, the company had total equity of $6.2 million, a substantial improvement from a negative equity position of $(1.7) million at the end of 2024. The company's cash position improved to about $17.8 million as of March 31, 2025, extending the company’s operational runway into mid-2026.

Key highlights from the update include significant progress in the clinical development of their personalised cancer vaccine, EVX-01. The Phase 2 trial showed 80% of vaccine targets triggering tumor-specific immune responses, a rate significantly higher than comparable vaccines. The company plans to present two-year clinical efficacy data from this trial at the ESMO Congress 2025, indicating key upcoming catalysts.

Evaxion also expects possible significant value drivers in the second half of 2025, including the EVX-01 two-year data readout and potential exercise of options by MSD (Merck) for their EVX-B2 and EVX-B3 programs. The company is targeting at least two new partnerships in 2025, though market conditions may influence the timing.

In addition, Evaxion has expanded its R&D pipeline with EVX-B4. The challenging financial markets and increased regulatory uncertainty are impacting deal execution in general. However, Evaxion remains optimistic about its business development pipeline, which supports the FY target.

Thomas Schmidt, who served as the Interim CFO during the call, was appointed as the permanent Chief Financial Officer of Evaxion A/S, effective August 1, 2025. Birgitte Rono, who served as the Interim CEO and Chief Scientific Officer during the call, continues to hold these positions at Evaxion.

The presentation contains forward-looking statements, and actual results may differ materially. For more detailed information, investors are encouraged to review Evaxion A/S's Q2 2025 financial results and business update, which are being presented.

Evaxion A/S (EVAX) is making significant strides in the fight against cancer, and the Q2 2025 Earnings Conference Call provided insights into the company's financial position and key clinical progress. With upcoming milestones such as the EVX-01 two-year data readout and potential licensing deals, Evaxion is poised for continued growth and development in the second half of 2025.

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