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Evaxion Biotech (EVAX)
NASDAQ:EVAX
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Evaxion Biotech
(NASDAQ:EVAX)
Rating:46Neutral
Price Target:
$2.50
▼(-9.09% Downside)
Positive Factors
Clinical Trials
Continued success with the ongoing Phase 2 study with EVX-01 as a therapy for metastatic melanoma has led to the extension of the trial, showing confidence in the study's potential.
Financial Stability
The potential cash infusion from Merck's option exercise could extend the company's cash runway into 2027, providing financial stability.
Strategic Partnerships
Merck increased its stake in Evaxion to nearly 20%, indicating strong confidence in the company's potential.
Negative Factors
Financial Performance
Evaxion reported total revenues of $3.3M, which fell short of the consensus estimate of $4.5M.
Revenue and Earnings
Evaxion reported no revenues with a net loss of $0.02 per diluted share, compared to consensus estimated no revenues and net loss of $0.58 per diluted share.
Risks and Challenges
Risks to the Buy rating include partnership, technology, clinical, regulatory, commercial, legal and intellectual property, competition, and dilution.
Evaxion Biotech (EVAX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$17.37M
Dividend YieldN/A
Average Volume (3M)109.82K
Price to Earnings (P/E)―
Beta (1Y)1.75
Revenue Growth4455.07%
EPS Growth77.31%
CountryUS
Employees46
SectorHealthcare
Sector Strength51
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.02
Shares Outstanding6,316,572
10 Day Avg. Volume111,784
30 Day Avg. Volume109,820
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.58
Enterprise Value/Revenue3.04
Enterprise Value/Gross Profit3.04
Enterprise Value/Ebitda-1.09
Forecast
1Y Price Target
$10.00Price Target Upside263.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Evaxion Biotech Business Overview & Revenue Model
Company DescriptionEvaxion Biotech (EVAX) is a biotechnology company that operates in the healthcare sector, focusing on the development of AI-driven immunotherapies. The company leverages its proprietary artificial intelligence platforms to design and develop novel immunotherapies for the treatment of cancer, bacterial diseases, and other immune-related conditions. Evaxion aims to transform the current landscape of immunotherapy by utilizing cutting-edge technology to improve treatment efficacy and patient outcomes.
How the Company Makes MoneyEvaxion Biotech makes money primarily through the development and commercialization of its AI-driven immunotherapies. Revenue streams include licensing agreements with pharmaceutical companies, where Evaxion provides access to its proprietary technology and therapeutic candidates in exchange for upfront payments, milestone payments, and royalties on sales. The company may also receive funding through research grants and collaborations with academic institutions and other biotech firms, which contribute to its R&D efforts. Additionally, strategic partnerships with larger pharmaceutical companies can provide significant financial support, helping to drive product development and eventual market entry.
Evaxion Biotech Earnings Call Summary
Earnings Call Date:Aug 14, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 11, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant progress in partnerships, financial stability, and R&D developments, particularly with the MSD partnership and a grant from the Gates Foundation. However, there are challenges due to regulatory and market uncertainties, and limited disclosure on clinical data was noted.Q2-2025 Updates
Positive Updates
Partnership with MSD on Track
Significant achievements with the partnership with MSD, with a potential option exercise in the second half of 2025.
Financial Stability
Cash at hand until mid-2026 and conversion of a loan from the European Investment Bank into equity, increasing equity by USD 4.1 million.
R&D Progress
Key R&D events include EVX-01 2-year clinical efficacy data accepted for presentation at ESMO Congress 2025 and the initiation of the EVX-B4 program.
Gates Foundation Grant
Received a grant from the Gates Foundation for a polio vaccine project, enhancing the platform's exposure and potential future collaborations.
Positive Financial Performance
Operating loss reduced to $4.3 million in Q2 2025 from $4.6 million in the same period last year, with cash reserves projected to last until mid-2026.
Negative Updates
Regulatory and Market Challenges
Challenging financial markets and increased regulatory uncertainty impacting deal execution.
Limited Disclosure on Clinical Data
No disclosure yet on the 2-year clinical data for EVX-01, with further details expected at the ESMO Congress.
Company Guidance
During Evaxion's Q2 2025 conference call, significant guidance was provided regarding their R&D and financial outlook. The company is progressing well with its R&D pipeline, including the EVX-01 Phase II trial for advanced melanoma, with 2-year clinical outcome data set to be presented at the ESMO Congress in October. They have expanded their pipeline with the addition of EVX-B4, aimed at developing a vaccine against Group A Streptococcus, and received a grant from the Gates Foundation for a polio vaccine project. Financially, Evaxion has cash reserves of $14.7 million, projected to fund operations until mid-2026. They have also strengthened their equity by $4.1 million through a debt-to-equity conversion with the European Investment Bank. The company remains focused on business development, with ongoing partnership discussions, and anticipates key milestones in the second half of 2025.Evaxion Biotech Financial Statement Overview
Summary
Evaxion Biotech shows strong revenue growth but faces financial instability with negative equity and reliance on debt. The company operates at a net loss, with negative EBIT and EBITDA margins, and struggles with negative free cash flow.Income Statement
Evaxion Biotech's income statement shows a significant improvement in revenue from $73,000 in 2023 to $3,344,000 in 2024, indicating strong growth. However, the company continues to operate at a net loss, with negative EBIT and EBITDA margins, reflecting ongoing challenges in controlling operating costs and achieving profitability.40
Negative
Balance Sheet
The balance sheet of Evaxion Biotech reveals financial instability, with negative stockholders' equity indicative of accumulated losses. The debt-to-equity ratio is undefined due to negative equity, presenting a risk. The company is heavily reliant on debt, which could challenge future financing.30
Negative
Cash Flow
Evaxion Biotech's cash flow statements show a negative free cash flow, although there was a notable improvement in net cash provided by financing activities. The operating cash flow remains negative, suggesting the company may struggle to cover its operational expenses without external financing.35
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.30M | 3.34M | 73.00K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 3.30M | 3.34M | 72.89K | -571.32K | -343.45K | -105.72K |
| EBITDA | -9.23M | -9.77M | -21.40M | -22.58M | -24.17M | -16.46M |
| Net Income | -11.50M | -10.57M | -22.13M | -23.17M | -24.53M | -15.02M |
Balance Sheet | ||||||
| Total Assets | 15.19M | 12.48M | 12.89M | -58.94M | 40.16M | 11.96M |
| Cash, Cash Equivalents and Short-Term Investments | 4.58M | 5.05M | 5.58M | 13.18M | 32.17M | 5.83M |
| Total Debt | 0.00 | 10.10M | 10.87M | 2.25M | 3.69M | 20.00K |
| Total Liabilities | 15.19M | 14.14M | 17.62M | 13.72M | 7.73M | 4.93M |
| Stockholders Equity | 74.00K | -1.65M | -4.73M | -72.66M | -50.43M | 7.04M |
Cash Flow | ||||||
| Free Cash Flow | -2.01M | -12.94M | -17.78M | -26.07M | -23.29M | -12.83M |
| Operating Cash Flow | -2.01M | -12.94M | -17.69M | -25.77M | -21.93M | -12.44M |
| Investing Cash Flow | 1.00K | -3.00K | -93.00K | -268.00K | -1.33M | -393.00K |
| Financing Cash Flow | 5.26M | 13.13M | 10.69M | 7.85M | 49.80M | 8.82M |
Evaxion Biotech Technical Analysis
Negative
2.75
Price Trends
2.73
Positive
2.32
Positive
3.21
Negative
Market Momentum
0.08
Positive
44.89
Neutral
24.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EVAX, the sentiment is Negative. The current price of 2.75 is below the 20-day moving average (MA) of 2.95, above the 50-day MA of 2.73, and below the 200-day MA of 3.21, indicating a neutral trend. The MACD of 0.08 indicates Positive momentum. The RSI at 44.89 is Neutral, neither overbought nor oversold. The STOCH value of 24.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for EVAX.
Evaxion Biotech Risk Analysis
Evaxion Biotech disclosed 117 risk factors in its most recent earnings report. Evaxion Biotech reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Our failure to meet Nasdaq's continued listing requirements could result in a delisting of our ADSs. Q4, 2022
2.
Raising additional capital may cause dilution to our shareholders, restrict our operations or require us to relinquish rights to our technologies or product candidates. Q4, 2022
3.
The amount of NOLs and research and development credits and our ability to use the same to offset future taxable income may be subject to certain limitations and uncertainty. Q4, 2022
Evaxion Biotech Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $9.55M | 4.67 | -43.39% | ― | -100.00% | 49.47% | |
51 Neutral | $7.86B | -0.26 | -41.41% | 2.22% | 22.87% | -2.01% | |
49 Neutral | $9.48M | ― | -494.11% | ― | ― | -219.97% | |
46 Neutral | $17.37M | ― | -321.37% | ― | 4455.07% | 77.31% | |
| ― | $6.38M | 0.35 | 67.08% | ― | ― | ― | |
40 Underperform | $9.12M | ― | -67.54% | ― | -34.07% | 23.79% | |
39 Underperform | $7.32M | ― | -285.93% | ― | ― | 53.79% |
* Healthcare Sector Average
Performance Comparison
EVAX
Evaxion Biotech
2.75
-13.05
-82.59%
KPRX
Kiora Pharmaceuticals
2.78
-0.76
-21.47%
PMCB
PharmaCyte Biotech
0.94
-0.53
-36.05%
APRE
Aprea Therapeutics
1.56
-1.77
-53.15%
DWTX
Dogwood Therapeutics
4.96
0.38
8.30%
ACXP
Acurx Pharmaceuticals
4.62
-37.38
-89.00%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.