Vaccinex Inc. is a biotechnology company that has experienced corporate restructuring and focuses on research and development, but specific operational and financial data such as revenue, income, and customer base are not provided.

# Vaccinex Inc. Company Summary

The provided excerpt from Vaccinex, Inc.'s Annual Report on Form 10-K does not include specific details about the company's operations, such as the number of customers, employees, revenue, or income. Instead, it provides information about corporate actions, such as reverse stock splits, and internal control matters related to financial reporting and restatements.

## Key Points:

- **Corporate Actions**:
  - **Reverse Stock Splits**:
    - 1-for-15 reverse split effective September 25, 2023.
    - 1-for-14 reverse split effective February 19, 2024.
  - These splits were approved by stockholders and retroactively applied to previous periods.

- **Financial Reporting**:
  - The company identified errors in its 2023 statement of cash flows related to cash used in operating activities and cash provided by financing activities.
  - Adjustments involved fair value adjustments for warrant instruments and proceeds from issuance of warrant instruments classified as liabilities.
  - The 2023 statement of cash flows has been restated accordingly.

- **Internal Control**:
  - The company has a material weakness in internal controls over financial reporting, specifically in reviewing the statement of cash flows.
  - The weakness contributed to a material misstatement in the 2023 statement of cash flows.

## No Information Provided On:
- Number of customers or clients
- Number of employees
- Revenue figures
- Net income or losses
- Specific business operations or product details

**Note:** To obtain detailed operational or financial data, additional sections of the full 10-K filing would need to be referenced.

Vaccinex, Inc. is a clinical-stage biotechnology company focused on developing targeted biotherapeutics for serious diseases with unmet medical needs.

### Summary of Vaccinex, Inc.

**Company Overview:**
Vaccinex, Inc. is a clinical-stage biotechnology company based in Rochester, New York, focused on the discovery and development of targeted biotherapeutics for serious diseases and conditions with unmet medical needs. The company's primary disease areas of interest include cancer, neurodegenerative diseases, and autoimmune disorders.

**Business Model:**
- **Core Activities:** Vaccinex is involved in product research, clinical development, and manufacturing, aiming to commercialize its product candidates.
- **Revenue Streams:** The company generates revenue through collaborative research, license agreements, and grants. Revenue for the year ended December 31, 2023, was approximately **$570,000**, a substantial increase from **$275,000** in 2022.
- **Research Collaborations:** The company actively engages in research collaborations, such as its agreement with Surface Oncology, and may receive milestone payments and funding for research activities.

**Financial Performance:**
- **Revenue:** 
  - **2023:** $570,000
  - **2022:** $275,000
- **Expenses:**
  - **Research and Development:** $16.57 million in 2023, compared to $13.97 million in 2022.
  - **General and Administrative:** $6.88 million in 2023, up from $6.20 million in 2022.
- **Net Loss:** 
  - **2023:** $20.25 million
  - **2022:** $19.82 million
- **Accumulated Deficit:** As of December 31, 2023, the total accumulated deficit stood at approximately **$339.9 million**.

**Employees:**
- The company operates with a lean workforce, with key personnel focusing on research and administrative roles, although specific employee numbers are not disclosed in the documents provided.

**Market Position and Customers:**
- Vaccinex has established a portfolio of product candidates in various stages of clinical development. However, the company has not yet commercially launched any products, relying on external partnerships and collaborations for development and potential commercialization.

**Challenges and Outlook:**
- Vaccinex faces significant challenges typical of early-stage biotechnology companies, including dependency on successful clinical trials, regulatory approvals, and the need for continuous fundraising to sustain operations as indicated by their recurring losses and significant cash burn.
- As of December 31, 2023, the company reported **$1.54 million** in cash and cash equivalents. The ability to secure additional financing is critical for sustaining operations and meeting obligations.

**Ownership and Governance:**
- The company has significant ownership concentration, with board members and their associated entities controlling a large percentage of shares. The governance structure includes a board of directors that influences strategic decisions related to research collaborations and financing initiatives.

In summary, Vaccinex, Inc. is positioned at the intersection of biotechnology and pharmaceutical development, working to advance treatments for serious health conditions. The company's financial challenges and reliance on external collaborations highlight the inherent risks in the biotechnology sector.

VACCINEX, INC.

10-K / April 15, 2025

10-K / April 25, 2024

10-K / April 15, 2025

Vaccinex Inc. Company Summary

Key Points:

No Information Provided On: