Evaxion A/S announced its first quarter 2025 financial results on May 27, 2025, highlighting a significant improvement in its financial position. Cash and cash equivalents surged to $17.8 million as of March 31, 2025, up from $6.0 million at the end of 2024, extending the cash runway to mid-2026.
The company reported a net loss of $1.6 million, or $(0.01) per basic and diluted share, for Q1 2025. Total equity saw a substantial increase to $10.3 million as of March 31, 2025, a significant improvement from a negative equity of $(1.7) million at December 31, 2024.
Research and development expenses decreased to $2.2 million due to cost management, while general and administrative expenses were $1.7 million. Evaxion reiterated its operational cash burn guidance of approximately $14 million for the full year 2025 and confirmed that the formal finalization of the EIB loan conversion is still expected in Q2 2025.
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