Evaxion Biotech A/S announced its full year 2024 financial results on April 1, 2025, reporting revenue of $3.3 million, primarily from the MSD option and license agreement. The net loss for 2024 improved to $10.6 million, a reduction from $22 million in 2023, driven by increased revenue and reduced R&D and G&A expenses.
As of December 31, 2024, cash and cash equivalents stood at $5.952 million, with total equity reported as negative $(1.652) million. The company guided for an operational cash burn of approximately $14 million for the full year 2025.
Evaxion also highlighted upcoming milestones, including the presentation of new biomarker and immune data for EVX-01 at AACR in April 2025, and the continued expectation for the EIB loan conversion in Q1 2025. The company aims for at least two new business development deals in 2025.
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