Evaxion to present two-year melanoma vaccine data at ESMO congress

COPENHAGEN - Evaxion A/S (NASDAQ:EVAX), currently trading at $5.90 and showing a remarkable 337% surge over the past six months according to InvestingPro data, will present two-year clinical data from its phase 2 trial of personalized cancer vaccine EVX-01 at the European Society for Medical Oncology (ESMO) Congress in Berlin, the company announced Monday.

The presentation, scheduled for October 17, will include efficacy, immunogenicity and safety data for the AI-designed melanoma treatment. According to the company, the data will cover response rates, durability of response, and T-cell response measurements following booster immunization. With a market capitalization of $37.3 million and maintaining a healthy current ratio of 3.42, InvestingPro analysis suggests the company has strong liquidity to support its clinical developments.

The phase 2 trial evaluates EVX-01 in combination with MSD’s anti-PD-1 therapy KEYTRUDA (pembrolizumab) in patients with advanced melanoma. Each patient receives a vaccine customized to their individual tumor profile using Evaxion’s AI-Immunology platform.

"We are excited to have been selected for oral presentation at an event as important as the ESMO Congress," said Birgitte Rønø, CSO and interim CEO of Evaxion.

Previously reported interim one-year data showed a 69% overall response rate, with tumor reduction in 15 out of 16 patients. The company also reported that 80% of EVX-01 vaccine targets triggered tumor-specific immune responses. Analysts maintain a bullish outlook on EVAX, with targets ranging from $6.00 to $19.75, as revealed in InvestingPro’s comprehensive research report, which offers detailed analysis of 1,400+ US stocks.

Dr. Muhammad Adnan Khattak, Director of Oncology at One Clinical Research in Perth, Australia, will present the findings at the congress. Evaxion will also host a follow-up webinar on October 22 featuring Dr. Khattak to discuss the results and address questions about the treatment.

Evaxion will maintain a booth at the congress to facilitate discussions with stakeholders about the data, according to the press release statement.

In other recent news, Evaxion Biotech reported its Q2 2025 earnings, focusing on strategic advancements and financial updates. The company highlighted its extended cash runway and progress in its research and development pipeline. Additionally, Evaxion announced the launch of a new automated vaccine design module for its AI-Immunology™ platform, aiming to reduce vaccine development time significantly. Meanwhile, Merck & Co., known as MSD, has exercised its option to license Evaxion’s vaccine candidate EVX-B3, resulting in an upfront payment of $7.5 million to Evaxion. This agreement also includes the potential for Evaxion to receive up to $592 million in future milestone payments and royalties. In light of this development, H.C. Wainwright raised its price target for Evaxion Biotech to $16, maintaining a Buy rating. These recent developments reflect Evaxion’s ongoing efforts in vaccine innovation and strategic partnerships.

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