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In a challenging year for Evaxion Biotech AS DRC O, the stock has plummeted to a 52-week low, touching a price level of just $0.92. With a modest market capitalization of $5.75 million, this significant downturn reflects a stark 1-year change, with the company's stock value eroding by -83.93%. InvestingPro analysis indicates the stock is currently in oversold territory, with a beta of -0.38 suggesting movement contrary to broader market trends. Investors have witnessed a turbulent period as the biotechnology firm grapples with market pressures and internal challenges, leading to a dramatic decline from its previous year's valuation. Despite these challenges, analysts project revenue growth of nearly 66% for the current year, and InvestingPro analysis suggests the stock may be undervalued at current levels. The current low presents a critical juncture for the company as it navigates through a competitive and rapidly evolving biotech landscape. Discover 13 additional key insights about EVAX with an InvestingPro subscription.
In other recent news, Evaxion Biotech has achieved significant milestones in its operations. The clinical-stage biotech company announced preclinical proof-of-concept for its AI-designed precision cancer vaccine. The vaccine was developed using the company's proprietary AI-Immunology™ platform and targets non-conventional endogenous retrovirus (ERV) tumor antigens. Evaxion plans to select a lead ERV precision vaccine candidate in the second half of 2025.
The company has also entered into a licensing agreement with pharmaceutical giant Merck (NS:PROR) for the development of two preclinical vaccine candidates, EVX-B2 and EVX-B3. This agreement could potentially bring in up to $1.2 billion in milestone payments. In addition, Evaxion is appealing a delisting determination from Nasdaq and is seeking an additional 180-day period to comply with the equity standards.
In the realm of analyst notes, H.C. Wainwright has maintained a Buy rating for Evaxion following these developments. The company expects to generate $14 million in business development income, and current cash reserves are anticipated to fund operations until early 2025. Evaxion has also announced the appointment of Mads Kronborg as the new VP of Investor Relations and Communication. These are the latest developments in Evaxion Biotech's ongoing operations.
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