EVAX - Earnings call transcript Q1 2021

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Operator

Greetings. Welcome to Evaxion First Quarter 2021 Earnings Call. At this time all participants are in a listen only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded. the Advisors. to turn Chang host, now LifeSci of will conference your over Mary-Ann I

begin. may You

Mary-Ann Chang

Thank you, quarter good outlines press conference we operator, release and a what call Evaxion to issued on discuss on Biotech we the is plan the today. release available first press results. to today morning, Earlier that everyone. This Welcome website. Evaxion

results. after will Lars will we'll the provide available corporate Glenn financial update, questions. Evaxion review remarks Wegner, CFO a will your the of which the CEO call Vraniak open the call During where Glenn prepared for be After the Lars answer brief up to Q&A and

begin, to turn may of this outcomes reports Reform now disclaims with prospects, Safe due Securities will and the the control expressly participants as to future we otherwise, such or statements factors are to With business Securities many call to directed [ph] said, to Actual the like Act. as provided relating Act Lars. include statements that risk Private any I factors filed result XX-F defined protection statements, materially future another under differ subject Exchange set looking beyond duty information, future Harbor forth everyone over the Evaxion's periodic XXXX. FXand the that to provide Commission. be Evaxion made intended the the Evaxion. forecast this future events from whether of impact updates conference a forward or events are forward-looking new of of performance, and Before or during statements could All plans results to Reform to I'd remind to the call Evaxion's Litigation forward-looking by expected

Lars Wegner

call. progress financials. the Glenn morning, everyone. discuss Mary-Ann. I'm to to our you before provide And our you, an quarter over handing Thank over overview on delighted it to Welcome to good

EVX-XX and continuing completing February, US moving So in IPO QX lead highlights, Successfully progress and two the we Evaxion recruitment late immune and on to our data clinical of programs. trials to and the an EVX-XX strong by preclinical and provide mid-July advance and phase update plan both step XXXX. in on oncology and next assemble our The business EVX-XX product on XA X data candidates results anticipate the track. into QX. our readout for remains in made our We EVX-XX. And

reactive dose the [ph]. the and assists modality. nine vaccine delivery assessed The trial EVX-XX tolerated total administered part and in being reminder, adjuvant But bladder non-small a a and melanoma, new first EVX-XX and two is based of with patient. assessed shots advanced epitope a or cancer July escalation fall, update Five data cell reacted this have will been including which to EVX-XX recruited data out being the in in complete As cancer. XX.X% peptide metastatic response cells response had one well patient cancer of the to lung be our patients the have five that new the both and that today with report, is recommended therapy showed patients including based of melanoma. DNA partial

second preclinical our Our clinical Staphylococcus anticipate our continue And and product of as EVX-XX we are prevention half RAVEN also development to disease. cancer EVX-XX for vaccine We ‘XX. indication for to the design expected viral filing for lead and develop regulatory of EVX-BX, for for platform a candidate our progressing and AI multiple trial vaccine development in CMC.

understanding normal the while $XX of initial aureus, peptides in c-complex stability. closed but published image our also DTU immune-oncology to of our located we recent we Hoersholm And a discount know, facility million research story Staphylococcus headquarters of to measurement cancer cash which condition. least, Scientific in new Director presentation February move improvements a automated pathogen and infections. net Summit Journal invasion you underwriting describing raised Reports is US in of at host the during most describing intro [ph] at and new public of Denmark. $XX.X reviewed in of the the of the in prediction Last kind determined paper Europe, quarter. to contributed Evaxion's better not the Park proceeds peer in interaction Science in New and As laboratory bacterium, end Copenhagen, offering the after first This the our We Antigen may FAS proceeds the near facilitate

XA readout I've mentioned expected phase EVX-XX already in and EVX-XX In the late QX. data terms milestones, on expected X of

have we So over summary, of exciting, overview it brief us. I to financials. for will Glenn month ahead exciting few that our hand will a be busy of and With

Glenn Vraniak

cash March Thank of of income you, quarter clinical million million in XXXX our Development increase of our increase ongoing The Lars to contributed $XX as Research same X, was compared of for million were candidates morning XXXX. spending good as XXXX. expenses On development as preclinical ended for IPO closed compared on $X.X primarily net to as trials. by proceeds period $XX.X everyone. XX February as position underwriting we XX, and related the and raising of to March platforms, our net XX and mentioned product XXXX of million US discounts the This for and Lars $X.X $X.X to $X.X XXXX, million grants commissions. December after million

XXXX. function was million basic in period and diluted or our the loss as The for our in related $X.X $X.X compared to public Net and and March XXXX, increased to ended administrative professional and million same million in ended to $X.X higher the per related initial share primarily increase expenses million headcount. for related March corporate $X.XX increases employee overhead million loss $X.X the XX, General for quarter for expansion diluted a as fees of addition, compared for offering. $X.X were per of to loss or expenses due was XXXX, $X.XX share the same period quarter XXXX. XX In the basic

guidance, that review And we operations concludes In resources terms the to guidance QX open cash financial and that of our sufficient support for questions. reaffirm into will call our your the be XXXX. existing we will now our of

Operator

first from is Our Oppenheimer. Kevin question. proceed question with your DeGeeter Instructions] Please with [Operator

Kevin DeGeeter

so question. taking my thanks much for Hey,

on know, XX, You two follow XX and then maybe and up XX.

duration at realistic you. XX on the XX, the X and to follow Looking with those in for about data that should regard five terms we learn patients? expect dose update, up more update, recommended to phase of Thank of expectation during

Lars Wegner

Thank you, Kevin.

able expect move patients So in the I'm in on EVX-XX we expect for be to to the dose that to have readout But we and patients for EVX-XX clinical and also going on late we to logical full determine nine update QX. forward. have we're the those

at DNA new primarily basically into potential as foundation technology immunogenicity of phase for the a are immunological a the we picture decision and in that we'll two of an moving have EVX-XX For epitope to our be looking for expecting space decision.

is As you are looking survival. aware free of Agilent relapse run EVX-XX in probably the for melanoma

So phase X EVX-XX decision will the for base be on potential data. based immunological

Kevin DeGeeter

I'm Thank you. more. you sorry largely had

Lars Wegner

Kevin. proceed Nope,

Kevin DeGeeter

thinking X needs then potential and with IND us compound. and with potential through what the that for regard to see and for completed how just phase be filing about you support, you're walks reminders to XX, Okay, population patient can

Lars Wegner

DNA, cell. our is basically EVX-XX challenges a targeted the therapy, So, a antigen presenting

with stories is running that plan. everything out program, tox We are on running according currently and

we filing we previously expect to the So as IND for have ready mentioned. be

development not course, lot different and for doing have done will add speak. for solid chosen EVX-XX. EVX-XX that plan and And share a we'll yet potential talks, the therapists, for clinical indications exercise majority as that We the the a are we choose you. of when course, prior the with for our new candidate epitope of mutations but analysis of to we indication we're we maybe have the to tumors filing, of And just have to the therapists. we of IND Thank new lot hit to

Operator

question [indiscernible]. And Please proceed your from with questions. is our next

Unidentified Analyst

Thanks the Phase quarter? for the X the or kind your timing Just decision X question. and second any will design in on kinetics that [ph]? any quickly my on Phase XX, take the you some color Where The on you after immediately, data of time? reported started the taking XX color

Lars Wegner

Thank you.

course, also to potential But have of no together so but timelines two, of plan possible course, most phase markets the we move two. data phase companies we exact as it of fast the preparing do forward So any data been the support as readout. has with for And we'll shared we if other course, with for yet. we as communicated not doing already the

Unidentified Analyst

accordingly, a your with levels types? immunogenicity be tumor design of Okay, be type. how the different tumors data but for story like [ph] but different selective I will in -- high tumor indication cohorts selecting still evaluate each tumor then, And or do understood. you're you all-commerce understand will model the or have And different

Lars Wegner

that's good a Yes, question.

story haven't arms phase we at it's yet. the yet. a settled design So we've numbers if extent one that as design for a of we probably the multiple potential made indication X indication two And not arms, into decision to or will

share So on any can't that. I more details

think are similarities some tumor As you there also mentioning, and the types. I between

say what will you be the tumor So want will compare if preferable see tumor noise from there across data like you pretty tumor immunogenicity data high types immunogenicity, in able story be in much. types mutation least the same that's set it same you our we will and to expect. but that to that expectation the I But compare in want these at similar still will immunological is

burden be even if long as mutational high different what indications tumors. among they also expect will are that as technologies, aren't So they

We low If concerned to a you low difference very I from therapies. I hope here. mutational that on would on that epitope burden sense? concluding believe makes to of will mutational tumors, burden be mutational high burden mutational to new go a the burden low some down be also bit

Unidentified Analyst

sense. a my makes it answering for Yes, Thanks questions. lot

Operator

question with is [Operator DeGeeter question. Kevin from Please And next your our Instructions] with proceed Oppenheimer.

Kevin DeGeeter

just What way about funding, RAVEN you're bandwidth optimize right embedded standpoint, the other Hey, investment, want entities? -- from you here internal verses third-party Lars about learning a the just of whether for to then be thinking just to -- thinking they RAVEN? or within And Thanks. government-related are opportunities kind how [indiscernible].

Lars Wegner

think it's question. an excellent I Yes,

has non-dilutive actually financed of So by basically grants. is that majority the platform the by always RAVEN research been the grants, means supported government which

viral space. similar cell the As are aware the are most of of, pretty in you T to cancer components

the that not, that of what rapidly just see on that the currently on protective, find we rapidly We that take course, find platform forward building. also believe right cancer on target Corona have we're but viruses. we any virus So the moving all broadly need are will platform a based they will also and experience both do are, they the virus from target. strain when that's or within mutations mutation and you But And space. viral very

we we we preclinical start of program, as now course, pretty the software starting forward with soon as And test course, as to of rapidly will the share share, to models. announced everyone. have concept it of and moved So, in on course, this side interesting the it and we some data, proof of are already different of platform

Kevin DeGeeter

Thanks for taking my questions.

Operator

we like turn I looks the it closing question-and-answer Wegner And Lars call to for session. the And the end have remarks. now over reached of

Lars Wegner

Perfect, so are there no more questions.

you call. for So you. forward Evaxion. And speaking Thank Thank interest all that to in look we again concludes soon. your this

Operator

concludes Thank disconnect your may at participation. This conference you for this your you and today's lines point.

Mary-Ann Chang	Investor Relations, LifeSci Advisors
Lars Wegner	Chief Executive Officer
Glenn Vraniak	Chief Financial Officer
Kevin DeGeeter	Oppenheimer

Evaxion Biotech A/S (EVAX) 14 May 212021 Q1 Earnings call transcript