6-K - Evaxion Biotech A/S | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

Evaxion Biotech A/S reported full year 2025 financial results with a net loss of $7.7 million and revenue of $7.5 million, alongside a strategic licensing deal with MSD for vaccine candidate EVX-B3. The company significantly strengthened its balance sheet, ending the year with $23.2 million in cash, extending its operational runway into the second half of 2027.

Key Takeaways

1Net loss for FY 2025 was $7.7 million, an improvement of $2.9 million compared to FY 2024.

2Revenue for FY 2025 was $7.5 million, driven by the MSD option exercise fee and a Gates Foundation grant.

3Cash and cash equivalents increased to $23.2 million as of December 31, 2025, from $6.0 million in the prior year.

4Licensed infectious disease vaccine candidate EVX-B3 to MSD, receiving a $7.5 million fee with potential for up to $592 million in future milestone payments.

5Total equity improved to $17.0 million as of December 31, 2025, compared to negative equity of $1.7 million as of December 31, 2024.

6Operational cash burn for 2026 is expected to be approximately $14 million.

Current Report Details

Event Type

6-K

Variant

6-K

Items Reported

6-K

Current Report on Form 6-K

Other Event

Results of Operations

Full Year 2025

Metric	Value	Prior Period
Revenue	$7.53	$3.34
Research and Development Expenses	$9.98	$10.46
General and Administrative Expenses	$6.79	$7.62
Operating Loss	$9.23	$14.73
Net Loss	$7.71	$10.57
Loss Per Share - Basic and Diluted	$0.02	$0.20

Forward Guidance

Full Year 2026

Operational Cash Burn

$14.00

Transaction Details

Material Agreement

Agreement: Licensing Agreement for EVX-B3
Parties: Evaxion A/S, MSD (tradename of Merck & Co., Inc.)

•Evaxion received $7.5 million option exercise fee.
•Evaxion is eligible for future payments of up to $592 million.
•MSD will carry all future development costs of the program.

Exhibits (2)

6-K

FORM 6-K

99.1

PRESS RELEASE