Evaxion Completes One-Year Extension of Phase 2 Trial for Personalized Cancer Vaccine EVX-01
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 07 2026
0mins
Evaxion (EVAX) has completed the one-year extension of its phase 2 trial with personalized cancer vaccine EVX-01 with the last patient having now had last physician visit. Patients in the trial will continue to be monitored and data prepared for expected presentation in the second half of 2026. Designed with AI-Immunology, EVX-01 is a personalized cancer vaccine currently being evaluated as a treatment for advanced melanoma. In the first two years of the phase 2 trial, patients were treated with EVX-01 in combination with Merck's (MRK) anti-PD-1 therapy, Keytruda. In the third year, patients received EVX-01 as monotherapy, allowing an evaluation of the vaccine's effect both as stand-alone and combination treatment. Further, the three-year data may provide additional insights into potential enhanced treatment effects and durability of induced immune response. Data from the first two years of the trial demonstrated an Objective Response Rate of 75%, as 12 out of 16 patients had objective clinical responses, with four patients obtaining a complete response. Additionally, a durable clinical benefit was observed as 92% of patients were still responding at two years follow-up and no relapses were observed. In total 54% of patients had a deepened response during treatment, improving from stable disease or partial response to partial or complete response. Tumor reduction was observed in 15 out of the 16 patients enrolled in the trial. In the trial, EVX-01 induced an immune response in all patients, with 81% of the targeted neoantigens generating potent specific T-cell responses. Th e company said this high immunogenicity rate stands out as highly encouraging compared to historical observations and compares very favorably to what is seen with other approaches. These results also underline and validate the precision of the AI-Immunology platform in accurately identifying neoantigens, which leads to detectable signals in patients. Data also confirmed EVX-01 to be a well-tolerated treatment.
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Analyst Views on EVAX
Wall Street analysts forecast EVAX stock price to rise
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Strong Buy
Current: 4.450
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10.00
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12.33
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Current: 4.450
Low
10.00
Averages
12.33
High
16.00
About EVAX
Evaxion A/S, formerly known as Evaxion Biotech A/S, is a Denmark-based clinical-stage biotechnology company, which specializes in the development of AI-driven immunotherapies to improve the lives of patients with cancer and infectious diseases. The Company decodes the human immune system to discover and develop immunotherapies to treat cancer and infectious diseases. Based on AI-immunology core technology, Evaxion is developing a pipeline of product candidates. In addition, Evaxion develops portfolio of vaccines to prevent bacterial and viral infections.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Evaxion Reports Promising Phase 2 Trial Results for Personalized Cancer Vaccine EVX-01
- Clinical Trial Success Rate: Evaxion A/S's personalized cancer vaccine EVX-01 achieved an impressive 86% success rate in triggering tumor-specific immune responses during its Phase 2 trial for advanced melanoma, indicating the therapy's efficacy and potential.
- Durable Immune Responses: The two-year analysis confirmed that EVX-01 generated durable immune responses, including robust de novo T-cell activity, which may enhance tumor-killing potential, thereby providing better treatment options for patients.
- AI Platform Application: Evaxion's proprietary AI-Immunology platform played a crucial role in the precise selection of vaccine targets with unprecedented accuracy, with Chief Scientific Officer Bigitte Rønø emphasizing that these findings validate the platform's powerful potential in developing transformational cancer treatments.
- Technology Scalability: Evaxion reported progress in applying its AI-Immunology platform to glioblastoma, with preclinical findings demonstrating the successful design of personalized vaccines targeting glioblastoma, highlighting the technology's scalability beyond melanoma and its significant clinical implications.
See More
EVX-01 Cancer Vaccine Data Shows Record Immune Response Rates
- Record Immune Response Rate: The personalized cancer vaccine EVX-01 demonstrates an impressive 86% success rate in triggering tumor-specific immune responses, significantly surpassing other methods, indicating its potential effectiveness in cancer treatment.
- Durable Immune Response Analysis: New data reveals that the vaccine elicits durable immune responses for up to two years post-administration, with 86% of patients generating novel tumor-specific T cells, potentially enhancing the vaccine's tumor-killing capabilities.
- Validation of AI Predictive Power: The study shows a positive correlation between AI prediction scores for vaccine targets and the magnitude of immune responses, further validating the effectiveness of the AI-Immunology™ platform in target selection, which may drive innovation in future cancer therapies.
- Clinical Trial Progress: The phase 2 trial of EVX-01 in combination with KEYTRUDA® has achieved a 75% objective response rate, with three-year clinical data expected to be presented in the second half of 2026, showcasing the vaccine's promising application in treating advanced melanoma patients.
See More
Evaxion A/S Holds Annual General Meeting Approving Key Proposals
- Annual Report Approval: Evaxion A/S held its Annual General Meeting on April 16, 2026, where the 2025 Annual Report was approved, indicating the company's ongoing commitment to financial transparency and governance, thereby enhancing investor confidence.
- Board Member Elections: During the meeting, Marianne Søgaard, Lars Holtug, Lars Aage Staal Wegner, and Roberto Prego Pineda were re-elected to the Board, while Jens Bitsch Nørhave was newly elected, ensuring continuity and expertise in corporate governance.
- Technological Platform Advantage: Evaxion leverages its proprietary AI-Immunology™ platform to focus on developing innovative vaccine candidates for cancer and infectious diseases, showcasing its leading position in the biotech field and potentially laying the groundwork for future market expansion.
- Clinical Pipeline Development: The company currently has a pipeline of personalized and off-the-shelf cancer vaccine candidates as well as prophylactic vaccine candidates, aimed at addressing high unmet medical needs, reflecting its strategic goal of improving patient lives through innovative treatment options.
See More
Evaxion A/S Reports Strong Q4 2025 Earnings and Strategic Developments
- Strategic Collaboration Progress: Evaxion A/S's licensing agreement with Merck for the EVX-B3 vaccine candidate marks a significant milestone as the first infectious disease vaccine identified through an AI discovery platform, showcasing the technology's market validation and future potential.
- Improved Financial Position: In 2025, Evaxion achieved a cash inflow of $32 million, with a net loss of $7.7 million, reflecting an improvement from the previous year, and ended with a cash position of $23 million, providing a solid foundation for future R&D and market expansion.
- R&D Pipeline Breakthroughs: The company made significant advancements in its R&D pipeline, with strong Phase II clinical data for EVX-01 in melanoma and the development of the new EVX-04 leukemia vaccine candidate, indicating promising market opportunities ahead.
- Future Outlook: Management anticipates submitting a regulatory application for EVX-04 in 2026, along with updates on biomarker and immunogenicity data for EVX-01, demonstrating ongoing investment in key assets and a keen awareness of market demands.
See More
Evaxion Biotech Reports FY EPS Beat Expectations
- Earnings Highlights: Evaxion Biotech reported a FY GAAP EPS of -$0.02, beating market expectations by $0.01, indicating a slight improvement in financial performance that may boost investor confidence.
- Market Reaction: Although the EPS remains negative, the better-than-expected results could attract more investor interest, potentially enhancing the stock's short-term performance and reflecting market recognition of its future potential.
- Historical Data Comparison: According to Seeking Alpha's Quant Rating, Evaxion Biotech's historical financial data suggests that despite challenges, the company's efforts in revenue and cost control are gradually showing results, which may lay the groundwork for future growth.
- Future Outlook: With ongoing operational optimization and R&D investments, investors maintain an optimistic view of Evaxion Biotech's long-term prospects, particularly regarding its innovation potential in the biotechnology sector.
See More
Evaxion A/S Provides 2025 Business and Financial Update
- Vaccine Licensing Achievement: Evaxion secured a historic licensing agreement with Merck for its infectious disease vaccine candidate EVX-B3, receiving a $7.5 million option exercise fee and potential future milestone payments of up to $592 million, significantly strengthening the company's financial foundation.
- Personalized Cancer Vaccine Progress: EVX-01 demonstrated a 75% objective response rate at the 2025 ESMO conference, with 4 out of 12 patients achieving complete response and 92% maintaining response at two years follow-up, validating the clinical potential of the AI-Immunology™ platform and driving future R&D advancements.
- Pipeline Expansion: Evaxion added EVX-04 and EVX-B4 vaccine candidates targeting acute myeloid leukemia and Group A Streptococcus, respectively, enriching its R&D pipeline with clinical trials expected in the second half of 2026, enhancing the company's competitiveness in cancer and infectious disease sectors.
- Financial Position Improvement: Evaxion's cash and cash equivalents reached $23.2 million in 2025, a significant increase from 2024, driven by over $30 million in capital influx and a debt-to-equity conversion agreement, ensuring sufficient operational funding into the second half of 2027 and enhancing future financing flexibility.
See More
Evaxion Reports Promising Phase 2 Trial Results for Personalized Cancer Vaccine EVX-01
- Clinical Trial Success Rate: Evaxion A/S's personalized cancer vaccine EVX-01 achieved an impressive 86% success rate in triggering tumor-specific immune responses during its Phase 2 trial for advanced melanoma, indicating the therapy's efficacy and potential.
- Durable Immune Responses: The two-year analysis confirmed that EVX-01 generated durable immune responses, including robust de novo T-cell activity, which may enhance tumor-killing potential, thereby providing better treatment options for patients.
- AI Platform Application: Evaxion's proprietary AI-Immunology platform played a crucial role in the precise selection of vaccine targets with unprecedented accuracy, with Chief Scientific Officer Bigitte Rønø emphasizing that these findings validate the platform's powerful potential in developing transformational cancer treatments.
- Technology Scalability: Evaxion reported progress in applying its AI-Immunology platform to glioblastoma, with preclinical findings demonstrating the successful design of personalized vaccines targeting glioblastoma, highlighting the technology's scalability beyond melanoma and its significant clinical implications.
See More
EVX-01 Cancer Vaccine Data Shows Record Immune Response Rates
- Record Immune Response Rate: The personalized cancer vaccine EVX-01 demonstrates an impressive 86% success rate in triggering tumor-specific immune responses, significantly surpassing other methods, indicating its potential effectiveness in cancer treatment.
- Durable Immune Response Analysis: New data reveals that the vaccine elicits durable immune responses for up to two years post-administration, with 86% of patients generating novel tumor-specific T cells, potentially enhancing the vaccine's tumor-killing capabilities.
- Validation of AI Predictive Power: The study shows a positive correlation between AI prediction scores for vaccine targets and the magnitude of immune responses, further validating the effectiveness of the AI-Immunology™ platform in target selection, which may drive innovation in future cancer therapies.
- Clinical Trial Progress: The phase 2 trial of EVX-01 in combination with KEYTRUDA® has achieved a 75% objective response rate, with three-year clinical data expected to be presented in the second half of 2026, showcasing the vaccine's promising application in treating advanced melanoma patients.
See More
Evaxion A/S Holds Annual General Meeting Approving Key Proposals
- Annual Report Approval: Evaxion A/S held its Annual General Meeting on April 16, 2026, where the 2025 Annual Report was approved, indicating the company's ongoing commitment to financial transparency and governance, thereby enhancing investor confidence.
- Board Member Elections: During the meeting, Marianne Søgaard, Lars Holtug, Lars Aage Staal Wegner, and Roberto Prego Pineda were re-elected to the Board, while Jens Bitsch Nørhave was newly elected, ensuring continuity and expertise in corporate governance.
- Technological Platform Advantage: Evaxion leverages its proprietary AI-Immunology™ platform to focus on developing innovative vaccine candidates for cancer and infectious diseases, showcasing its leading position in the biotech field and potentially laying the groundwork for future market expansion.
- Clinical Pipeline Development: The company currently has a pipeline of personalized and off-the-shelf cancer vaccine candidates as well as prophylactic vaccine candidates, aimed at addressing high unmet medical needs, reflecting its strategic goal of improving patient lives through innovative treatment options.
See More
Evaxion A/S Reports Strong Q4 2025 Earnings and Strategic Developments
- Strategic Collaboration Progress: Evaxion A/S's licensing agreement with Merck for the EVX-B3 vaccine candidate marks a significant milestone as the first infectious disease vaccine identified through an AI discovery platform, showcasing the technology's market validation and future potential.
- Improved Financial Position: In 2025, Evaxion achieved a cash inflow of $32 million, with a net loss of $7.7 million, reflecting an improvement from the previous year, and ended with a cash position of $23 million, providing a solid foundation for future R&D and market expansion.
- R&D Pipeline Breakthroughs: The company made significant advancements in its R&D pipeline, with strong Phase II clinical data for EVX-01 in melanoma and the development of the new EVX-04 leukemia vaccine candidate, indicating promising market opportunities ahead.
- Future Outlook: Management anticipates submitting a regulatory application for EVX-04 in 2026, along with updates on biomarker and immunogenicity data for EVX-01, demonstrating ongoing investment in key assets and a keen awareness of market demands.
See More
Evaxion Biotech Reports FY EPS Beat Expectations
- Earnings Highlights: Evaxion Biotech reported a FY GAAP EPS of -$0.02, beating market expectations by $0.01, indicating a slight improvement in financial performance that may boost investor confidence.
- Market Reaction: Although the EPS remains negative, the better-than-expected results could attract more investor interest, potentially enhancing the stock's short-term performance and reflecting market recognition of its future potential.
- Historical Data Comparison: According to Seeking Alpha's Quant Rating, Evaxion Biotech's historical financial data suggests that despite challenges, the company's efforts in revenue and cost control are gradually showing results, which may lay the groundwork for future growth.
- Future Outlook: With ongoing operational optimization and R&D investments, investors maintain an optimistic view of Evaxion Biotech's long-term prospects, particularly regarding its innovation potential in the biotechnology sector.
See More
Evaxion A/S Provides 2025 Business and Financial Update
- Vaccine Licensing Achievement: Evaxion secured a historic licensing agreement with Merck for its infectious disease vaccine candidate EVX-B3, receiving a $7.5 million option exercise fee and potential future milestone payments of up to $592 million, significantly strengthening the company's financial foundation.
- Personalized Cancer Vaccine Progress: EVX-01 demonstrated a 75% objective response rate at the 2025 ESMO conference, with 4 out of 12 patients achieving complete response and 92% maintaining response at two years follow-up, validating the clinical potential of the AI-Immunology™ platform and driving future R&D advancements.
- Pipeline Expansion: Evaxion added EVX-04 and EVX-B4 vaccine candidates targeting acute myeloid leukemia and Group A Streptococcus, respectively, enriching its R&D pipeline with clinical trials expected in the second half of 2026, enhancing the company's competitiveness in cancer and infectious disease sectors.
- Financial Position Improvement: Evaxion's cash and cash equivalents reached $23.2 million in 2025, a significant increase from 2024, driven by over $30 million in capital influx and a debt-to-equity conversion agreement, ensuring sufficient operational funding into the second half of 2027 and enhancing future financing flexibility.
See More
