Evaxion AS Stock Price, News & Analysis

Evaxion (NASDAQ: EVAX), a clinical-stage TechBio company focused on AI-powered vaccine development, has announced significant changes to its executive management team. CEO Christian Kanstrup has stepped down, with Chief Scientific Officer Dr. Birgitte Rønø appointed as interim CEO while the company searches for a permanent replacement.

The company has also appointed Thomas Schmidt as permanent Chief Financial Officer, following his interim role since November 2024. These management changes are part of Evaxion's strategy to optimize value from its proprietary AI-Immunology™ platform and pipeline developed over 17 years.

The Board of Directors is conducting a search for a new permanent CEO with strong business development focus, proven transformational leadership, and strategic partnership capabilities. Dr. Rønø, who has been with Evaxion since 2017 and joined Executive Management in 2021, will ensure leadership continuity during the transition period.

Evaxion (NASDAQ: EVAX) has announced the addition of a new vaccine program, EVX-B4, targeting Group A Streptococcus (GAS) to its R&D pipeline. Initial computational analysis shows that the company's AI-Immunology™ platform can successfully identify novel vaccine targets to combat GAS, which affects hundreds of millions globally each year.

The bacteria can cause severe complications including rheumatic heart disease, necrotizing fasciitis, strep throat, and scarlet fever. The development of EVX-B4 represents a significant milestone in Evaxion's 2025 objectives, bringing their pipeline to eight vaccine candidates - five for infectious diseases and three for cancer.

Evaxion (NASDAQ: EVAX) has received a grant from the Gates Foundation to develop a new polio vaccine using its AI-Immunology™ platform. The project aims to help eradicate polio globally by designing a novel vaccine construct that eliminates the need for live viruses in production. Despite existing vaccines, polio remains a threat with potential for global resurgence. Evaxion's AI platform will identify and combine various antigens to combat the virus, creating new antigen constructs for selection and validation. CEO Christian Kanstrup highlighted that the grant enables platform validation without additional operational costs. The innovative approach seeks to overcome limitations of current vaccines, which use inactivated or attenuated viruses, by developing a safer and more effective alternative.

Evaxion (NASDAQ: EVAX) reported Q1 2025 financial results and provided business updates. Key highlights include: EVX-01 phase 2 trial progression with 80% of vaccine targets triggering tumor-specific immune responses, significantly higher than comparable vaccines. The company's cash position improved to $17.8 million as of March 31, 2025, from $6.0 million in December 2024, extending runway to mid-2026. Q1 2025 showed a net loss of $1.6 million ($0.01 per share) compared to net income of $1.2 million in Q1 2024. R&D expenses decreased to $2.2 million from $2.8 million year-over-year. The company expects potential value catalysts in H2 2025, including EVX-01 two-year data readout and possible MSD option exercise for EVX-B2 and EVX-B3 programs. Evaxion is targeting at least two new partnership agreements in 2025, though market conditions may impact timing.

Evaxion (NASDAQ: EVAX), a clinical-stage TechBio company focused on AI-powered vaccine development, has scheduled its Q1 2025 financial results announcement and business update for May 27, 2025, before Nasdaq CM market opening. The company's management will host a conference call and webcast at 14:30 CET/08:30 EST on the same day. Investors and the public can participate in the event by registering in advance to receive dial-in details and a PIN code. The presentation will be followed by a Q&A session, and a recording will be made available on Evaxion's website after the event.

Evaxion (NASDAQ: EVAX) has initiated a one-year extension of its Phase 2 trial for EVX-01, an AI-designed personalized cancer vaccine for advanced melanoma. The first patient has received treatment in this extension phase, which will evaluate EVX-01 as a monotherapy following its initial two-year combination with checkpoint inhibitors. The extension aims to assess long-term benefits with minimal additional costs. The original Phase 2 trial has shown promising results, with 69% Overall Response Rate and tumor reduction in 15 out of 16 patients at the one-year mark. Notably, 80% of EVX-01's vaccine targets successfully triggered immune responses. The trial extension will provide insights into treatment durability for up to three years, with two-year data expected in H2 2025.

Evaxion Biotech (NASDAQ: EVAX) has presented compelling new data for its personalized cancer vaccine EVX-01 at the AACR Annual Meeting. The vaccine, designed using AI-Immunology™ platform, demonstrated an impressive 80% tumor-specific immune response rate among vaccine targets, surpassing previously reported rates of 71% and 79% at ASCO and ESMO 2024 meetings.

The ongoing phase 2 trial evaluates EVX-01 in combination with KEYTRUDA® for advanced melanoma treatment. The immune response data shows strong and sustained results, with enhanced effects from booster immunizations. The trial, which previously showed strong one-year interim clinical data, is progressing toward its two-year data readout in H2 2025 and has been extended for a third year for comprehensive assessment.

Evaxion Biotech (NASDAQ: EVAX), a clinical-stage TechBio company, will showcase its AI-Immunology™ platform at the World Vaccine Congress in Washington, D.C., from April 21-24, 2025. The company will deliver two key presentations and host booth #351.

Chief Scientific Officer Birgitte Rønø will present on AI-powered antigen target discovery for cancer vaccines on April 23 at 11:40 ET in Room 206. Additionally, Pär Comstedt, VP of Infectious Disease Vaccine Development, will discuss AI-powered target discovery for infectious disease vaccines at 15:10 ET in Room 202b.

This congress marks one of several scientific, partnering, and investor conferences where Evaxion plans to engage with potential partners and collaborators in Q2 2025. The company will demonstrate its AI-Immunology™ platform's capabilities in vaccine development for both cancers and infectious diseases.

Evaxion Biotech (NASDAQ: EVAX) reported its full year 2024 financial results and business updates. The company's partnership with MSD on two vaccine candidates is progressing towards potential option exercise in H2 2025. Their lead asset EVX-01, a personalized cancer vaccine, showed promising one-year interim data with a 69% Overall Response rate.

Financial highlights include revenue of $3.3 million in 2024 (vs $0.1M in 2023), reduced net loss of $10.6 million (vs $22.1M in 2023), and successful capital raising of approximately $17 million in early 2025. R&D expenses decreased to $10.5 million from $11.9 million in 2023.

Key 2025 milestones include two-year clinical efficacy readout for EVX-01, potential MSD option exercise worth up to $10 million, selection of lead ERV-based precision cancer vaccine candidate, and at least two new business development agreements.