Financial Performance - Revenue for the full year 2024 was 0.1 million in 2023, primarily due to a signed option and license agreement with MSD[25] - The net loss for 2024 was (0.20) per share, compared to a net loss of (0.81) per share in 2023[27] - Evaxion's total liabilities decreased to 17.6 million in 2023, reflecting improved financial health[29] - Cash and cash equivalents as of December 31, 2024, were 5.6 million at the end of 2023, with expectations to fund operations until mid-2026[24] Expenses - Research and development expenses decreased to 11.9 million in 2023, attributed to reduced headcount and cost efficiencies[25] - General and administrative expenses were 10.4 million in 2023, driven by management changes and cost reductions[26] - The company anticipates an operational cash burn of approximately 10 million[8][9] Risks and Uncertainties - Key risks include financial condition, need for additional capital, and product development costs[34] - The company emphasizes dependence on third parties for clinical testing and product manufacturing[34] - There are uncertainties related to government regulation and protection of intellectual property rights[34] - The impact of international economic and geopolitical factors, including inflation, is highlighted as a risk[34] - The announcement includes forward-looking statements that may differ materially from actual results due to various risks[34] - The company does not assume any obligation to update forward-looking statements except as required by law[34]
Evaxion(EVAX) - 2024 Q4 - Annual Report