Evaxion A/S, a clinical-stage TechBio company specializing in AI-Immunology™ powered vaccines, reported its first quarter 2025 financial results, showing no revenue compared to $51,000 in the same period of 2024. The company recorded a net loss of $1.58 million for the first quarter of 2025, compared to a net income of $1.194 million in the first quarter of 2024. The operating loss for the period was $3.868 million, an improvement from the $4.396 million loss reported in the first quarter of 2024. In terms of business updates, Evaxion highlighted the continued development of its lead asset, EVX-01, with the ongoing phase 2 trial on track for a two-year readout in the second half of 2025, and the first patient in a one-year trial extension being dosed in May. The company also mentioned ongoing discussions with the European Investment Bank (EIB) regarding the conversion of €3.5 million of its €7 million loan into an equity-type instrument, expected to finalize in the second quarter of 2025. This conversion aims to increase equity by $3.7 million and improve financial flexibility. Evaxion's financial outlook remains solid, with a cash runway extending to mid-2026.