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Evaxion A/S

For the period ended Jun 30, 2026. Filed Aug 20, 2026.

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What a company based outside the US has published at home or sent to its shareholders. It is how many foreign companies share results and news between annual reports.

Jun 30, 2026 · Filed Aug 20, 2026

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Contents

EX-99.2 · Operating activities

Operating activities

Net cash used in operating activities was $8.3 million for the six months ending June 30, 2026. The largest component of our cash used in operating activities during this period was a net loss for the period of $7.4 million and non-cash adjustments and changes in working capital of $1.1 million, mainly relating to accrued expenses and other payables.

Net cash used in operating activities was $7.7 million for the six months ending June 30, 2025. The largest component of our cash used in operating activities during this period was a net loss for the period of $6.4 million and non-cash adjustments and changes in working capital of $0.8 million. The non-cash charges primarily consisted of a gain from changes in fair value of liability-classified warrants of $2.0 million

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