MSD Transformative Deal
Evaxion's first ever in-licensing of an AI discovered vaccine candidate by a major pharma company, MSD, exercised their option on EVX-B3. This included a $7.5 million exercise fee, extending the company's cash runway significantly and potentially up to $592 million in future revenue.
Strong Financial Performance
The company extended its cash runway into the second half of 2027, strengthened equity with a USD 31.8 million improvement, and recorded a quarterly operational gain for the first time. The balance sheet showed a strong cash balance of USD 10.6 million by the end of the quarter.
Clinical Efficacy of EVX-01
Presented highly encouraging two-year clinical outcome data from the EVX-01 Phase II study with a 75% objective overall response rate and a 34% conversion rate, indicating significant potential for long-term control of melanoma.
Enhanced AI-Immunology Platform
The platform was expanded with a new automated vaccine design module, significantly reducing design time and accelerating development timelines, ensuring optimal sequence and conformation of vaccine targets.