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On Wednesday, H.C. Wainwright analyst Swayampakula Ramakanth reaffirmed a Buy rating and a price target of $14.00 for Evaxion Biotech (NASDAQ:EVAX) shares, which currently trade at $2.36. The stock has shown remarkable momentum, surging 36% in the past week. The analyst emphasized the company’s recent release of its abbreviated first-quarter 2025 financials and a business update. According to InvestingPro, the company maintains a FAIR financial health score, though it’s currently not profitable. Evaxion’s management has confirmed its previously stated guidance regarding research and development milestones expected for the year.
The company is on track to unveil a vaccine for an infectious disease by the end of the first half of 2025. This development aligns with the company’s earlier announcement of plans to introduce two new vaccines aimed at bacterial pathogens into its pipeline during the year. The analyst anticipates that these vaccines will contribute positively to Evaxion’s offerings in the infectious disease space.
In addition to its infectious disease vaccine initiatives, Evaxion is progressing in the oncology sector with its precision ERV vaccines. The company is slated to choose a leading candidate for this program in the second half of 2025. Preclinical studies have shown promising results, with the ERV vaccines demonstrating the ability to control tumor growth and induce specific T cells in mice, which were immunized with vaccines containing mouse ERVs.
The success of both the infectious disease and ERV vaccines could be pivotal for Evaxion, potentially attracting new partnerships and non-dilutive funding. Such advancements would support the expansion of the company’s artificial intelligence models and its overall pipeline. The analyst’s reiterated Buy rating and price target reflect confidence in Evaxion’s strategic progress and potential for future growth. With analyst targets ranging from $6 to $19.75, and a Strong Buy consensus, the stock shows significant upside potential. Get deeper insights into Evaxion’s valuation and 10+ additional ProTips with InvestingPro’s comprehensive research report.
In other recent news, Evaxion Biotech has reported significant advancements in its Phase 2 trial for the EVX-01 cancer vaccine, demonstrating an 80% immune response rate in advanced melanoma cases. Despite no revenue in the first quarter of 2025, Evaxion’s financial position remains stable, with cash reserves increased to $17.8 million, supporting operations until mid-2026. The company’s Q4 2024 financial performance showed improvement, with revenue of $3.3 million from a licensing agreement with MSD, reducing the net loss to $10.6 million compared to the previous year. Evaxion’s collaboration with MSD on the EVX-B2 and EVX-B3 programs continues, with potential option exercises expected later this year, possibly leading to milestone payments and royalties. The company’s AI-Immunology™ platform has been optimized for the development of a precision cancer vaccine targeting non-conventional tumor antigens. Evaxion has also extended its EVX-01 trial to a third year to gather comprehensive data. Additionally, the company is in discussions with the European Investment Bank to convert a portion of a loan into equity, enhancing financial flexibility.
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