Evaxion A/S · NASDAQ:EVAX
Evaxion A/S — Q3 2024 Earnings Presentation
21 slides from Evaxion A/S's earnings presentation, Oct 31, 2024
Slide 1: Evaxion Business Update Conference Call Q3 2024
October 31, 2024 evaxion-biotech.com Evaxion Business Update Conference Call Q3 2024 Christian Kanstrup, CEO Birgitte Rønø, CSO Thomas Schmidt, CFO Mads Kronborg, VP Investor Relations and Communication AI-ImmunologyTM Powered Vaccines
Slide 2: Agenda
Agenda Introduction (CEO, Christian Kanstrup) R&D/Business update (CSO, Birgitte Rønø) Q3 2024 financial results (CFO, Thomas Schmidt) Conclusive remarks (CEO, Christian Kanstrup) Q&A
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: Introduction
Introduction 4
Slide 5: Key achievements since last business update
Key achievements since last business update Strong strategy execution • Several milestones achieved across the company Strong progress on our multi-partnering strategy • Transformative deal signed with MSD around EVX-B2 and B3, providing significant financial and strategic value to Evaxion • Continu
Slide 6: A transformative partnership for Evaxion
A transformative partnership for Evaxion Option and license agreement covering EVX-B2 and EVX-B3, ensures fast and effective development to address serious unmet needs, no approved vaccines available today Significant financial and strategic value to Evaxion, both short- and long-term Upfront paymen
Slide 7: 2024 milestone overview
2024 milestone overview Milestones Target EVX-B1 Conclusion of final MTA study with potential partner Q1 2024 Mid 2024 AI-Immunology™ Launch of EDEN™ model version 5.0 (ECCB, September) Q3 2024 EVX-B2-mRNA EVX-B2-mRNA preclinical Proof-of-Concept obtained (18th Vaccine Congress, September) Q3 2024 E
Slide 8: Corporate updates
Corporate updates Business development ambition Nasdaq deficiency letter • $3.2m secured so far this year • Nasdaq notification related to minimum equity threshold received in May 2024, exemption • Up to $10m in 2025 from MSD agreement granted until November 4 contingent upon option exercise • Evaxi
Slide 9: R&D/Business update
R&D/Business update 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 INDICATION/ STAGE OF DEVELOPMENT AI MODEL PARTNER PATHOGEN TARGET DISCOVERY PRECLINICAL PHASE 1 PHASE 2 CANCER VACCINES Metastatic melanoma Pembrolizumab supply EVX-01 (Liposomal/peptide) PIONEER™ agreement with M
Slide 11: R&D/Business Update
R&D/Business Update R&D Pipeline Progress AI-Immunology™ platform improvement EVX-01 Lead vaccine: Launch of updated EDEN™ model: • One-year clinical read out from our ongoing EVX-01 Includes a toxin antigen predictor, allowing for the Phase 2 trial presented ESMO in Sept development of improved bac
Slide 12: EVX-01 Phase 2 Study Design and Milestones
EVX-01 – Phase 2 (NCT05309421) Study Design and Milestones Enrolled 17 patients with metastatic melanoma, of which 16 received EVX-01 • 11 Active patients Conducted in collaboration with Merck & Co., Inc., (MSD) • 7 Patients have received all 10 EVX-01 doses Primary endpoint: Improvement from SD or
Slide 13: EVX-01 With Anti-PD-1 Therapy Resulted in a 69% ORR
EVX-01 With Anti-PD-1 Therapy Resulted in a 69% ORR • 4/14 (29%) patients had an improvement in RECIST response # # # # from week 12, at 1st EVX-01 • 3/16 (19%) patients achieved complete remission of tumor target lesions • The combination of EVX-01 and anti-PD-1 therapy led to an ORR of 11/16 (69%)
Slide 14: Introduction of EVX-01 Reduces Target Lesions in the Majority of Patients
A Introduction of EVX-01 Reduces Target Lesions in the Majority of Patients • In 15 out of the 16 patients, the target lesions were reduced • Target lesions decreased during B the Pembro run-in phase and showed further reduction following the introduction of EVX- Change in target leasion size 01 at
Slide 15: EVX-B2-mRNA - preclinical Proof-of-Concept obtained
EVX-B2-mRNA - preclinical Proof-of-Concept obtained adjuvant alone EVX-B2-Protein 100 • The EVX-B2-mRNA Gonorrhea vaccine 106 EVX-B2-mRNA (bar represents median) NGO0265_NGO1549 + adjuvant candidate triggers a targeted immune mRNA NGO0265_NGO1549 + LNP response that can eliminate several N. 105 80 H
Slide 16: Improved AI-Immunology platform for vaccine antigen prediction with EDEN 5.0
Improved AI-Immunology™ platform for vaccine antigen prediction with EDEN™ 5.0 Toxins Constitute a Distinct Class of Highly Protective Antigens • Upgraded EDEN™ prediction model can now predict toxin antigens, allowing for the development of improved bacterial vaccines • Bacterial toxins are often k
Slide 17: Q3 2024 financial results
Q3 2024 financial results 17
Slide 18: Financials – Q3 2024 Highlights
Financials – Q3 2024 Highlights • Revenue of $3 million in the quarter primarily stemming from the new MSD agreement, which may also generate substantial future revenue • Lower spend compared to 2023 as a result of earlier and ongoing cost reduction initiatives • As of September 30, 2024, cash and c
Slide 19: Financials Q3 2024 profit and loss
Financials Q3 2024 profit and loss (Unaudited) • Net loss of $1.9 million for the quarter, or $(0.04) per basic and diluted share, as compared to a net loss of $5.7 million, or $(0.21) per basic and diluted share for Q3 2023. Improvement was primarily driven by the recognized revenue and reduced gen
Slide 20: Financials Q3 2024 balance sheet
Financials Q3 2024 balance sheet (Unaudited) • Equity improved by $4.8 million during 2024 while investing in our pipeline and platform • Cash and cash equivalents as of September 30, 2024, of $4.6 million does not include the $3.2 million upfront from the MSD agreement received in October • Ambitio
Slide 21: Conclusive remarks
Conclusive remarks • Solid execution of strategy and plans • Solid business development pipeline • Other top priorities are the continued progress of the EVX-01 phase 2 trial and novel preclinical activities activities as a basis for expanding our R&D pipeline 21