Evaxion A/S · NASDAQ:EVAX
Evaxion A/S — FY2024 Earnings Presentation
20 slides from Evaxion A/S's earnings presentation, Apr 1, 2025
Slide 1: Business Update Full year 2024
APRIL 1, 2025 Business Update Full year 2024 Christian Kanstrup, CEO Birgitte Rønø, CSO Thomas Schmidt, CFO Mads Kronborg, VP Investor Relations and Communication
Slide 2: Agenda
Agenda 2024 recap and 2025 milestones (CEO, 1. Christian Kanstrup) 2. R&D update (CSO, Birgitte Rønø) Agenda 3. 2024 financial results (CFO, Thomas Schmidt) Conclusive remarks (CEO, Christian 4. Kanstrup) 5. Q&A © Evaxion Biotech A/S. All rights reserved. 2
Slide 3: Forward-looking statement
Forward-looking statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “target,” “believe,” “expect,” “hope,” “aim,” “intend,” “may,” “m
Slide 4: 2024 recap and 2025 milestones
1. 2024 recap and 2025 milestones © Evaxion Biotech A/S. All rights reserved. 4
Slide 5: Substantial progress across Evaxion
Substantial progress across Evaxion AI-Immunology Business development R&D Financing platform • Transformational • Successful execution of • Launch of novel toxin • Public offering and other partnership with MSD* phase 2 trial with EVX-01 antigen predictor capital markets activities announced in Sep
Slide 6: Significant value triggers coming up
Significant value triggers coming up EVX-01 EVX-01 All patients Supplemental phase 2 completed EVX-01 biomarker and dosing immunogenicity data H1 Infectious 2025 diseases Two new pipeline candidates (1 in H1, 1 in H2) Business EVX-V1 Precision ERV cancer MSD vaccine collaboration development & Lead
Slide 7: Deriving value from both our platform and pipeline
Deriving value from both our platform and pipeline PLATFORM PIPELINE Enables high value/low risk-partnerships on Advancing select high value programs into target discovery, design and development preclinical and early clinical development, agreements PLUS fast and cost-effective retaining value and
Slide 8: Recent events
Recent events Stronger financial position • Public offering and other capital markets activities raised ~$17 million, extending cash runway to mid-2026 • MSD Global Health Innovation Fund participated in public offering along with other healthcare-focused investment funds • Finalizing documentation
Slide 9: R&D update
2. R&D update © Evaxion Biotech A/S. All rights reserved. 9
Slide 10: Pipeline: Demonstrating the performance and scalability of our AI-Immunology platform
Pipeline: Demonstrating the performance and scalability of our AI-Immunology platform I ND I CA TI ON/ STA GE OF DEVEL OPM ENT PAR TNER PAT HOGEN T A R GE T D IS CO V ER Y PR E CL IN IC AL PH A SE 1 PH A SE 2 C ANC E R VA CCIN ES Metastatic melanoma Pembrolizumab supply agreement with MSD* EVX-01 (L
Slide 11: EVX-01: Great progress towards exploring full potential
EVX-01: Great progress towards exploring full potential • Trial extended by an additional year to • Enables exploration of EVX-01 as collect three-year clinical outcome data monotherapy, following initial combination with standard of care • Additional clinical data allows for a more comprehensive as
Slide 12: ERV precision cancer vaccine concept
ERV precision cancer vaccine concept • The AI-Immunology platform allows for the design of precision cancer vaccines targeting non-conventional Path towards clinical development endogenous retrovirus (ERV) tumor antigens shared across patients Design and select a lead precision ERV vaccine candidate
Slide 13: MSD collaboration on track for potential option exercise
MSD collaboration on track for potential option exercise 2023 2024 2025 • Evaxion and MSD enters • MSD collaboration significantly • Both programs progressing as target discovery expanded through option and planned towards potential collaboration on a novel licensing agreement, also option exercise
Slide 14: EVX-V1: Cytomegalovirus (CMV) vaccine
EVX-V1: Cytomegalovirus (CMV) vaccine HIGHLIG HTS KEY DATA • Multi-component vaccine for prevention of CMV infection in connection with e.g. solid organ transplantations AI-Immunology identified novel AI-Immunology identified T-cell • Contains novel B- and T-cell antigens and a proprietary B-cell an
Slide 15: Financial highlights
3. Financial highlights © Evaxion Biotech A/S. All rights reserved. 15
Slide 16: Financials – 2024 highlights
Financials – 2024 highlights • Revenue of $3.3 million mainly stemming from the MSD agreement, which may also generate substantial future revenue • Lower spend compared to 2023 as a result of earlier and ongoing cost optimization and reduction initiatives • December 31, 2024, cash and cash equivalen
Slide 17: Financials 2024 profit and loss
Financials 2024 profit and loss • Net loss of $10.6 million, or $(0.20) per basic and diluted share, as compared to a net loss of $22.1 million, or $(0.81) per basic Three Months Ended December 31, Twel ve Months Ended December 31, and diluted share for the year 2023 2024 2023 2024 2023 Rev enue 122
Slide 18: Financials 2024 balance sheet
Financials 2024 balance sheet • Equity improved during 2024 while continuing to invest in our pipeline and platform • Cash and cash equivalents were $11.9 million as of January 27, December 31, 2024 December 31, 2023 2025. Public offering closed January 31, 2025, with gross proceeds of $10.8 million
Slide 19: Conclusive remarks
4. Conclusive remarks © Evaxion Biotech A/S. All rights reserved. 19
Slide 20: Conclusive remarks
Conclusive remarks Evaxion has never been stronger fundamentally Well positioned for strong 2025 execution Clear strategy with strong focus on monetizing value through business development via both platform and pipeline Several value catalysts in 2025 including potential MSD option exercise and EVX-