EVAX - Earnings call transcript Q2 2022

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Operator

Good morning, and welcome to the Evaxion Biotech Second Quarter 2022 Earnings Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there’ll be an opportunity to ask questions. [Operator Instructions] Please note, that this event is being recorded. I would now like to turn the conference over to Corey Davis. ahead. go Please

Corey Davis

everyone. Hello, joining this us Thanks, Thanks morning. Joe. for

of a the statements remind Let from forward-looking implied following in risks XXst, Reform including discussed and and to everyone and of Lars it statements the the turn discussion factors, materially not performance Commission. or risk those in Because company’s Exchange quickly due of statements this CEO. Securities these the XX-F, variety XXXX. Act by contains Lars, Wegner, current defined take and with At company’s factors uncertainties, considered the to differ involve Form the are on time, submitted and call or that me actual filed those annual Securities forward-looking may Litigation to pleased away. expressed President that certain to as forward-looking future company’s guarantees XXXX, they’re over report Private reports filed on future the March and I’m statements results

Lars Wegner

Corey. morning, Good everyone. you, Thank

Officer, you you on this business me earnings Wegner, Karmark. and Evaxion Lars and I’m Officer Biotech Chief open thank Chief for give presentation call for Executive call. Evaxion’s Financial Evaxion, is; your the We’ll the questions. and then joining today a of with for short QX So, Bo us results, our up

with Evaxion exciting resectable runs chain managed feasible we our trial our in again, and announced production our personalized in efficient AI expansion a a of that therapies milestones half In clinical successful to the in finalized full ongoing that cancer successfully plan first personalized EVX-XX multiple XXXX, of trial critical Evaxion PIONEER patients the clinical cell Phase X/Xa to a of announced immunotherapies our time enrolled announced by second of once of in to data We unique be all the product program, were batches provide EVX-XX oncology with trial filing truly we immunotherapy for XXXX. Phase our candidate a in according into platform within saying due studies. in May expected Demonstrating XXXX. is cancer to intend our clinical the readout and indication, of pre-clinical of quarter non-small Let Starting cancer me half this XXXX, begin XXXX. for window. encouraging melanoma. using clinical all to the that The second we June program production submit X/Xa third new regulatory for lung

we the Phase of we – metastatic of half cancer EVX-XX expect planned, the other that viral with melanoma In candidate for XXXX. the that EDEN gonorrhea pipeline the to plan our second platform. our select to using to the improve for in believe second Xb significant existing treatment KEYTRUDA we candidate including clinical addition, begin highlight of as we product – as melanoma, eventually, without of programs landscape in cancer of first of in treatment program our plan combining developed the bacterial Merck’s therapies platform in EVX-BX with EVX-X half XXXX, June second cell patients RAVEN our and cancer manufacturing therapy, In the cancers. the and our successful our lung from announced these non-small bacteria trial We our the EVX-XX We steps, personalized for potential XXXX. the progression treatment

is through develop to business As you out-license them. X programs may Phase know, before Evaxion seeking to model our

the pharmaceutical personalized companies. webinar multiple and with the cancer and metastatic acclaimed partnership we hosted potential biotechnology discussing Outside actively also immunotherapies. clinic, with of Leader on a Key are We Opinion expert melanoma

million. reserve cash our XXXX, XXth, the June of totaled As $XX.X

Park an equity months. for expect our quarter now our to XXXX. business product million the XX update and Capital resilience. operational review. efforts to financial concludes for our entered development Bo to arrangement support XXXX The next facilities our will financial further of for financial financing to for into turn I up these second including strengthen funds, We with the company the QX This $XX use LLC Fund, Lincoln call also over

Bo Karmark

you. Thank

As Lars mentioned, financing up in Fund. of equity Lincoln $XX agreement into enter the an we for second quarter to Capital with million XXXX, Park

were our the months Investment The from was of and XX, As of compared decrease XXXX, cash first XX, months XXXX operating our XXXX. partly to the of in from June first during related $XX.X of to primarily as six cash the received cash December expenses first European equivalents cash six $XX.X as million Bank. the and of for million by proceeds loan tranche XXXX, offset equivalents

equivalents, XXXX. as with the compared primarily business due in Net of million or million three our XXXX. and million $X.XX were diluted period increase company. the six period for listed the This sufficient to the and was cash capital to $X.X XXXX. for the an XX, compared The will and million ending, including a shares Research associated loss – and basic months was be as expansion expect three The fees our requirements clinical primarily basic decrease $X.X external and use for expenses million June months the slight $X.X facilities loss three financing three General the increase to ended, ending, expenses million XX, $X.X operating in to for development same cash for administrative ended, XX, diluted to lower shares months June expenses costs the to $X.X least and to XXXX, the in related for next months. same $X.X fund of expenditure months was our loss XX $X.X were at per per XXXX. compared or to June due the June XX, trials. We XXXX

Lars Wegner

up That Thank for call our any open Bo. presentation to it’s now, And time you, concludes questions. today. the

Operator

with Lake will Street Capital Flaten [Operator Thomas question-and-answer question session. We now ahead. the go from Our will Markets. first begin Please Instructions] come

Thomas Flaten

I the while know a delay morning, since you could ongoing you was could Good But the that. patients comment questions. just Lars. if screening Phase you or EVX-XX guys I you study. curious around the EVX color hoping in on first clearance. patient you actively. got I Xb guys. been I It’s for appreciate provide in were was some taking

Lars Wegner

you good for question and and Yeah, thank that.

very, expecting we patients announced to logistics had we we actually XX so earlier the screened first So, patient due We primarily starting very open as plan initiation a and first had which we year, planning. are compared smaller to the to today. actually actually what of was the We have soon. delay first be actually this being speak, and are to we site sites that

But readout be delay couple the during of it to of that get quite to any of expect caught able actually a influence course, to XX opening so up We initiation back happy of actually additional site that we first was of actually the months, have fast kind the are, are not we today. EVX-XX. the of sites then, the will recruitment. next And

planned. So to the readout as we expect will have

Thomas Flaten

And on in and the the submissions regulatory for updates then EU any US EVX-XX?

Lars Wegner

plan the up course, Europe And the in X and running Yeah, that’s then also with we Europe. will, first open We in US. and actually announce they sites actually of moving in according have start when first up Australia to sites we and plan.

of Australia, network So our such opened also and very plan, have X a have where moving people like trial, lot in also with where Long. according as previous actually experience Georgina broad the that but first we the we a sites is KOL running in very, EVX-XX, will be with

Thomas Flaten

from weeks a question. few And updates for et I know since it’s old your the only the non-clinical then cetera, one of been to CEO? – announced, transition new any the but timing incoming company Any kind transition was of company, on

Lars Wegner

Yeah.

exact a have of of We to course, our as, CEO, to Per his company. weeks expect arrange date able new announce be to will with that matter current within the

And, firm starting, So, matter so company. expect can another he very, within start course, and hope will date am will we is regardless he weeks. a I also for soon, But earlier, to not leaving so a probably of we mentioned when very I of I how solid have a transition. have – of

out to as there be needed. long will I as So help

Thomas Flaten

Excellent. Thank I the taking appreciate question. you. you

Lars Wegner

Thank you.

Operator

Our Instructions] Ladenburg [Operator Ahu question Thalmann. Please next with from come Demir will ahead. go

Unidentified Participant

Ahu This two my non-small please cell details population, platform Can see Thanks. for And treatment timeline? the cancer in taking questions. And responders you non-responders? information in some you EVX-XX the question. format? regimens question AI-DeeP terms in Thank to the I you is, more on [inaudible] everyone. from data? second for can please have Hello, When us my us what patient give and the is we give Demir. the of the data could and predict on

Lars Wegner

and very question. you, Thank good

first one on the cell with start let’s lung So cancer. non-small

non-small metastatic of midst trial. Checkpoint course, combination targeting inhibitors. are that of first-line in cell are we the now, And right lung So preparing with we for cancer in

exact are a was have on that being but who do AI-Deep, able around model to not when have but be be ‘XX more previously a communicated able from a to in half had announced we and some we that – of will we be combination soon And be data run for we to interesting patients. an data to this we is timeline business on what have we immunotherapy, We More now, our But is who expect when that the to checkpoint ‘XX this AI-DeeP, filing all patients to data have the setting, deliver it was able general, we interesting year regulatory also responds launched And able very for deliver the also as don’t And actually timelines, just lot other therapy. on validate studies. share different will truly able course, of precise the on through very expectation that that, submission. We we it that. with on We have through the month in is, to to and to Right predict immunotherapy, gathering additional will to will it. there platform respond data platform. as upcoming run is to in inhibitors. which we And also we data. also in progress sharing predict our the that our program. our that we sharing as data shifting new to ’XX set timeline details expect and second our expect be from basically

Unidentified Participant

much taking very you Thank for great. really my question. that’s Okay,

Lars Wegner

You are welcome.

Operator

our conference closing question-and-answer This conclude the for Wegner session. back like to Lars I’d over will to any remarks. turn

Lars Wegner

conference. and all] today’s [to [ph] thank you us today. This joining you for concludes Thank

You time. may disconnect your you. Thank at lines this

Operator

The conference has attending presentation. now concluded. Thank today’s you for

You your may lines. now disconnect

Evaxion Biotech A/S (EVAX) 10 Aug 222022 Q2 Earnings call transcript