Evaxion AS Stock Price, News & Analysis

Evaxion Biotech (NASDAQ: EVAX), a clinical-stage TechBio company focused on AI-Immunology™ powered vaccines, has announced its participation in multiple scientific and investor conferences across the US and Europe during March-June 2025.

The company will deliver scientific and corporate updates at key events including:

• Immunotherapy and Immuno-Oncology Congress in London (March 12-14)
• HC Wainwright AI Based Drug Discovery Conference (Virtual, April 2)
• World Vaccine Congress in Washington (April 21-25)
• AACR Annual Meeting in Chicago (April 25-30)
• BIO International Convention in Boston (June 16-19)

These conferences are strategically important for Evaxion to identify potential business partnerships and scientific collaborations. The company will also attend additional conferences without presenting to enhance stakeholder engagement.

Evaxion Biotech (NASDAQ: EVAX) has announced an extension of its Phase 2 trial for EVX-01, a personalized cancer vaccine for advanced melanoma, from two to three years. This extension will allow the company to collect additional clinical outcome data and potentially demonstrate enhanced treatment effects and immune response durability.

The trial, which has already yielded convincing one-year data, will offer active participants the opportunity to receive additional EVX-01 doses as monotherapy after completing the initial two-year protocol. The two-year data readout remains on track for the second half of 2025.

Interim one-year data presented at the ESMO Congress in September 2024 showed promising results:

• 69% Overall Response Rate
• Reduction in tumor target lesions in 15 out of 16 patients
• Positive correlation between AI-Immunology™ platform predictions and immune responses
• 79% of vaccine targets triggered a targeted immune response

EVX-01 is designed using Evaxion's AI-Immunology™ platform and is being tested in combination with MSD's anti-PD-1 therapy, KEYTRUDA® (pembrolizumab).

Evaxion Biotech (NASDAQ: EVAX) has successfully regained compliance with Nasdaq's minimum stockholders' equity requirement, avoiding delisting. The company has strengthened its financial position through several capital market activities:

- Completed a $10.8 million public offering on January 31, 2025 - Raised approximately $7.6 million through prefunded warrants and ATM facility sales - Total net proceeds of $17 million, extending cash runway to mid-2026

Additionally, Evaxion is in discussions with the European Investment Bank (EIB) regarding the conversion of €3.5 million of its €7 million loan, expected to increase equity by $3.7 million upon completion in Q1 2025. Nasdaq has implemented a one-year Mandatory Panel Monitor to ensure continued compliance.

Evaxion Biotech (NASDAQ: EVAX) has announced the closing of a $10.8 million public offering, consisting of 3,997,361 American Depositary Shares (ADSs) and warrants to purchase up to 50% of the ADSs at $2.71 per ADS. Each ADS represents fifty ordinary shares, and the warrants are exercisable immediately with a five-year expiration.

Notable participants in this offering include MSD Global Health Innovation Fund, a corporate venture capital arm of Merck & Co., who became a shareholder in December 2023, along with healthcare-focused investment funds and participation from Evaxion's Board and Management. Lake Street Capital Markets and Jones served as exclusive placement agents.

The company plans to use the net proceeds to advance its preclinical and clinical pipeline, and for continuing operating expenses and working capital.

Evaxion Biotech (NASDAQ: EVAX) has announced the pricing of a $10.8 million public offering, consisting of 3,997,361 American Depositary Shares (ADSs) and warrants to purchase up to 50% of the ADSs at $2.71 per ADS. Each ADS represents fifty ordinary shares, and the warrants will be exercisable immediately with a five-year expiration period.

Notable participants include MSD Global Health Innovation Fund, a Merck & Co. venture capital arm, along with healthcare-focused investment funds and participation from Evaxion's Board and Management. The offering is expected to close around January 31, 2025.

Lake Street Capital Markets and Jones are serving as exclusive placement agents. The proceeds will be used to advance the company's preclinical and clinical pipeline, continuing operating expenses, and working capital.

Evaxion Biotech (NASDAQ: EVAX) has secured a 180-day extension from Nasdaq until May 12, 2025, to formally comply with the minimum stockholders' equity requirement of $2.5 million. The company has already restored its equity above the minimum threshold through two key actions: exercise of prefunded warrants and sales through its ATM-facility, which provided $7.8 million and extended its cash runway until Q4 2025.

The company is also in discussions with the European Investment Bank (EIB) regarding the conversion of €3.5 million of its €7 million loan to equity, expected to be completed in Q1 2025. This conversion would increase Evaxion's equity by $3.7 million. The company reports strong progress in ongoing business development discussions and aims to secure at least two new business development agreements in 2025.

Evaxion Biotech (NASDAQ: EVAX) has completed dosing all 16 patients in its phase 2 trial of EVX-01, a personalized cancer vaccine for advanced melanoma treatment. The trial, which combines EVX-01 with MSD's KEYTRUDA®, remains on track for completion and data readout in H2 2025.

The company's AI-Immunology™ platform-designed vaccine has shown promising interim results presented at ESMO Congress in September 2024, including a 69% Overall Response Rate and tumor reduction in 15 out of 16 patients. The data demonstrated a positive correlation between AI-platform predictions and immune responses, with 79% of vaccine targets triggering targeted immune responses.

EVX-01 is tailored to each patient's unique tumor profile and immune characteristics, targeting a market of over 300,000 new melanoma cases annually.

Evaxion Biotech (NASDAQ: EVAX) has completed its previously announced ADS ratio change effective January 14, 2025. The ratio has been modified from 1 ADS representing 10 ordinary shares to 1 ADS representing 50 ordinary shares, equivalent to a one-for-five reverse ADS split.

The change was automatically implemented, with existing ADSs being cancelled and new ones issued by The Bank of New York Mellon. Holders of certificated ADSs were required to surrender their certificates for exchange, while uncertificated ADSs in DRS and DTC were automatically converted. No fractional ADSs were issued; instead, fractional entitlements will be sold and proceeds distributed to affected holders.

The company continues trading on Nasdaq under 'EVAX'. While the ADS trading price is expected to increase proportionally, Evaxion provided no assurance regarding the post-change trading price or liquidity effects.

Evaxion Biotech (NASDAQ: EVAX) has announced an extension to its planned American Depositary Shares (ADS) ratio change. The effective date has been moved to January 14, 2025, one day later than initially planned, due to Nasdaq Capital Markets' closure on January 9 in observance of President Jimmy Carter's passing.

The ADS ratio will change from 1:10 (one ADS representing ten ordinary shares) to 1:50 (one ADS representing fifty ordinary shares). This change will function similarly to a one-for-five reverse ADS split and aims to enhance ADS liquidity. Holders of uncertificated ADSs will have their shares automatically exchanged, while those with certificated ADSs must surrender them for cancellation and replacement. The stock will continue trading under 'EVAX' on Nasdaq, with fractional ADSs being sold and proceeds distributed to holders.