Evaxion Biotech A/S American Depositary Share - EVAX STOCK NEWS

Evaxion Biotech A/S (NASDAQ: EVAX) announced significant progress in its clinical trials and technology advancements during a recent financial update. The Company presented promising data from the Phase 1/2a trial of EVX-02 at the AACR 2023, showing all 10 patients remained relapse-free after a year. EVX-03, a personalized cancer vaccine, is set to begin a Phase 1 trial in Q4 2023 following a CTA filing expected in Q3 2023. The Company has enhanced its AI capabilities with the new ObsERV™ technology, which targets viral antigens in tumors. Financially, Evaxion reported $13 million in cash as of December 31, 2022, sufficient to fund operations until December 2023. They acknowledged previous net losses but highlighted reduced R&D spending. They plan to provide further updates on their trials and pipeline in 2023.

Evaxion Biotech reported promising results from its Phase 1/2a clinical trial of EVX-02, a personalized cancer immunotherapy, presented at the 2023 AACR meeting. All 10 late-stage melanoma patients who completed treatment showed robust immune responses and remained relapse-free at their last assessment. The study, which combined EVX-02 with the checkpoint inhibitor nivolumab, demonstrated safety and tolerability, with only mild adverse events noted. The outcomes support the predictive capabilities of Evaxion's AI technology and pave the way for the development of EVX-03, expected to enter the clinic in Q4 2023.

Evaxion Biotech A/S (NASDAQ: EVAX) has published promising preclinical data in Frontiers of Immunology regarding its AI-driven viral vaccine discovery platform, RAVEN. Conducted with Pennsylvania State University, this study highlights the platform's ability to identify protective T-cell epitopes from SARS-CoV-2 in a COVID-19 mouse model, effectively preventing severe disease and mortality. The RAVEN platform is positioned to streamline vaccine development against a variety of viral diseases, with potential implications for enhancing both existing and new vaccines. Chief Scientific Officer Birgitte Rønø emphasized the significance of this research in tailoring vaccines for broad population protection. The study marks a pivotal point as the first instance of an AI-designed T-cell vaccine demonstrating in vivo protection against severe COVID-19, potentially paving the way for rapid responses to emerging viral threats.

Evaxion Biotech announces a strategic focus on its AI capabilities to enhance pipeline development, aiming for a clinical Phase 1/2a trial entry in Q4 2023. The Phase 2b clinical trial is reduced in size, with interim data expected on schedule. The company has identified new cancer treatment opportunities using endogenous retroviruses (ERVs) that may boost immunotherapy effectiveness. Evaxion's next program, EVX-03, is on track for timely clinical development. This renewed focus is set to significantly extend its cash runway, optimizing trial approaches and reducing staffing costs.

Evaxion Biotech (NASDAQ: EVAX) announced the introduction of its proprietary AI technology, ObsERV™, designed to identify viral targets for cancer immunotherapy. This innovation aims to treat patients with cold tumors, typically unresponsive to existing therapies.

Evaxion's research indicates that endogenous retroviruses (ERVs), which are overexpressed in certain cancers, significantly correlate with survival rates. The company has achieved complete tumor eradication in animal models targeting ERVs. CEO Per Norlén emphasizes the platform's potential to broaden treatment options for cancer patients. A preprint will be published soon, with a presentation scheduled for March 28, 2023, at the Immuno 2023 conference.