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Evaxion Biotech ( (EVAX) ) has provided an update.
On March 5, 2026, Evaxion reported that 2025 was a transformational year marked by strategic, scientific and financial advances, including a historic licensing deal with MSD for its infectious disease vaccine candidate EVX-B3 and strong two-year phase 2 data for its personalized melanoma vaccine EVX-01. The company also expanded its pipeline with the AML vaccine EVX-04 and Group A Streptococcus candidate EVX-B4, entered a polio collaboration with the Gates Foundation, won a Galien Foundation award for AI-Immunology and strengthened its balance sheet by more than $30 million and a debt conversion with the EIB, leaving it funded into the second half of 2027 and positioning it to pursue 2026 milestones in oncology, infectious diseases and autoimmune applications of its platform while maintaining an annual cash burn of about $14 million.
Evaxion plans in 2026 to launch a new AI-Immunology application for autoimmune diseases, deepen the clinical dataset for EVX-01 with biomarker, immunogenicity and three-year efficacy results and file for a phase 1 trial of EVX-04 in AML, alongside key preclinical validation steps for the EVX-B4 strep vaccine. Clinical and preclinical data presented in 2025 at major conferences for EVX-01, EVX-04 and the CMV program EVX-V1 underscored the platform’s ability to discover highly immunogenic, novel antigens, reinforcing Evaxion’s partnering appeal as it pursues additional platform and pipeline deals under tight cost control.
The most recent analyst rating on (EVAX) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Evaxion Biotech stock, see the EVAX Stock Forecast page.
Spark’s Take on EVAX Stock
According to Spark, TipRanks’ AI Analyst, EVAX is a Neutral.
The score is held back primarily by weak financial fundamentals (ongoing losses, negative free cash flow, and balance sheet instability) and bearish technicals. Offsetting these, the latest earnings call was notably positive due to the MSD deal extending runway and strong EVX-01 clinical updates, while valuation support is limited given the negative P/E and no dividend.
To see Spark’s full report on EVAX stock, click here.
More about Evaxion Biotech
Evaxion A/S is a Copenhagen-based, clinical-stage TechBio company listed on Nasdaq under the ticker EVAX and focuses on developing novel vaccines using its proprietary AI-Immunology platform. The company’s R&D pipeline spans personalized cancer vaccines and prophylactic vaccines for infectious diseases, and it increasingly targets high unmet need areas such as advanced melanoma, acute myeloid leukemia and Group A Streptococcus.
Average Trading Volume: 74,590
Technical Sentiment Signal: Strong Sell
Current Market Cap: $19.71M
Find detailed analytics on EVAX stock on TipRanks’ Stock Analysis page.