Evaxion targets at least two new business development deals, maintaining cash runway to mid-2026

Evaxion (NASDAQ: EVAX) reported Q1 2025 financial results and provided business updates. Key highlights include: EVX-01 phase 2 trial progression with 80% of vaccine targets triggering tumor-specific immune responses, significantly higher than comparable vaccines. The company's cash position improved to $17.8 million as of March 31, 2025, from $6.0 million in December 2024, extending runway to mid-2026. Q1 2025 showed a net loss of $1.6 million ($0.01 per share) compared to net income of $1.2 million in Q1 2024. R&D expenses decreased to $2.2 million from $2.8 million year-over-year. The company expects potential value catalysts in H2 2025, including EVX-01 two-year data readout and possible MSD option exercise for EVX-B2 and EVX-B3 programs. Evaxion is targeting at least two new partnership agreements in 2025, though market conditions may impact timing.

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