Evaxion A/S (EVAX) Q2 2025 Earnings Call Transcript

Evaxion A/S (EVAX) Q2 2025 Earnings Conference Call August 14, 2025 8:30 AM ET

Company Participants

Birgitte Rono – Interim CEO & Chief Scientific Officer
Thomas Frederik Schmidt – Chief Financial Officer

Conference Call Participants

Thomas Flaten – Lake Street Capital Markets, LLC, Research Division

Operator

Hello, and welcome to Evaxion’s Second Quarter 2025 Conference Call. [Operator Instructions]

I would now like to turn the conference over to Birgitte Rono, Interim CEO and CSO. You may begin.

Birgitte Rono

Thank you for that. So first and foremost, welcome to our Q2 2025 business update and financial results. I am Birgitte Rono, Chief Scientific Officer and Interim CEO of Evaxion. And with me today, I have Thomas Schmidt, Chief Financial Officer, now permanent CFO as of August 1; and Mads Kronborg, VP of IR and Communications.

Today, I will start with a short introduction, followed by an R&D update, and then Thomas will present our Q2 financial results. And lastly, we are, of course, as always, open for questions.

So before we begin, please note that today’s presentation contains forward-looking statements based on current expectations and actual results may differ from this. So since last quarter, we have made significant achievements and with the partnership with MSD, we are on track towards potential option exercise in the second half of 2025. Our business development pipeline remains solid and supports the FY target. However, we do see that the challenging financial markets and increased regulatory uncertainty is impacting deal execution in general. Key R&D events and progress include EVX-01 2-year clinical efficacy data accepted for an oral presentation at the ESMO Congress in 2025 and treatment in the main part of the EVX-01 Phase II trial is completed and patients have been recruited for the 1-year extension phase. We have also expanded our R&D pipeline with EVX-B4 and we will get