The Team Coop-Repsol rider crashed during a mountain descent after losing control.
"The UCI is devastated to learn of the death of professional cyclist André Drege at the Tour of Austria," the UCI said on X. "Our thoughts are with his family, friends and teammates."
The presentations were cancelled after the race was completed out of respect following news of the accident.
Cycling has mourned several deaths in the past year.
Spaniard Juan Pujalte, 18, died in March after being involved in a fatal accident during training.
In August, Belgian rider Tijl De Decker, 22, passed away due to severe injuries sustained in a training crash.
U.S. Junior Men's National Team member Magnus White died aged 17 after being hit by a car while training in his home city Boulder, Colorado days after Italian Jacopo Venzo, also 17, died following a crash during a race in Austria.
In mid-June 2023, Swiss rider Gino Mader died at the age of 26 after crashing into a ravine during stage five of the Tour de Suisse, on the descent towards the finish line.