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Evaxion Biotech AS (EVAX), a clinical-stage biotechnology company with a market capitalization of $14.6 million, has seen its stock plummet to a 52-week low, touching down at $2.22. According to InvestingPro analysis, the company appears undervalued at current levels, with analyst price targets ranging from $6 to $19.75. This latest price level reflects a stark contrast to the company’s performance over the past year, with the stock experiencing a precipitous drop of -87.02% from its previous positions. While the company holds more cash than debt on its balance sheet, InvestingPro data shows a weak overall Financial Health Score of 1.65. Investors have been closely monitoring Evaxion Biotech’s journey, as the company navigates through the challenges of drug development and seeks to bring innovative therapies to market. The significant decline over the past year has raised concerns among stakeholders about the company’s future prospects and the biotech sector’s volatility, though analysts anticipate a 49.75% revenue growth for FY2024. With a beta of -0.27, the stock typically moves counter to market trends. Discover 12 more exclusive InvestingPro Tips and comprehensive analysis in our Pro Research Report.
In other recent news, Evaxion Biotech A/S has confirmed its compliance with Nasdaq’s minimum stockholders’ equity requirement, ensuring its continued listing on the exchange. This follows a successful public offering on January 31, 2025, which raised $10.8 million, and additional funds from prefunded warrants and American Depositary Shares sales, collectively extending Evaxion’s cash runway to mid-2026. The company is also anticipating a conversion of a portion of its loan from the European Investment Bank into equity, potentially adding $3.7 million to its financial resources. H.C. Wainwright has maintained a Buy rating on Evaxion, with a price target of $14, viewing Merck (NSE:PROR)’s increased investment as an endorsement of the company’s commercial potential. Merck’s stake in Evaxion has increased to nearly 20% following its participation in the public offering. Furthermore, Evaxion has achieved preclinical Proof-of-Concept for its AI-designed precision cancer vaccine, showcasing promising results in human immune cell responses and mouse models. The company aims to select a lead candidate for its ERV precision vaccine in the latter half of 2025. These developments reflect Evaxion’s strategic focus on advancing its pipeline and achieving significant milestones in the coming year.
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