Evaxion Biotech A/S Q3 2025 Earnings Recap

Evaxion reported a strong Q3 2025, highlighted by a transformative deal with MSD, marking a significant milestone in their AI-driven vaccine development and extending their cash runway into 2027.

Key Takeaways

• MSD exercised their option on the AI-discovered vaccine candidate EVX-B3, generating a $7.5 million exercise fee that enhances financial stability.
• Two-year clinical efficacy data for EVX-01 showed a promising 75% objective overall response, generating sustained T cell activity across patients.
• Introduction of EVX-04, targeting acute myeloid leukemia, expands Evaxion’s pipeline, underscoring their commitment to precision cancer vaccines.
• Investment in an upgraded AI-Immunology platform with an automated vaccine design module optimizes development processes and cost efficiency.
• Cash runway extended to the second half of 2027, ensuring ongoing R&D and business development initiatives.