Core Points - Evaxion Biotech A/S has received a 180-day extension from Nasdaq to comply with the minimum stockholder's equity requirement, which is now set to May 12, 2025 [1][2] - The company has successfully restored its equity above the $2.5 million minimum through the exercise of prefunded warrants and sales of American Depositary Shares, securing a total of $7.8 million [3][9] - Discussions are ongoing with the European Investment Bank regarding the conversion of €3.5 million of a €7 million loan into equity, which is expected to increase equity by approximately $3.7 million upon completion [4][9] - The CEO of Evaxion expressed confidence in the company's strengthened equity and cash position, as well as ongoing interest in potential partnerships and business development agreements [5][9] Financial Position - Evaxion has restored its equity above the Nasdaq minimum requirement through various financial maneuvers, extending its cash runway until the fourth quarter of 2025 [3][9] - The company has secured additional cash and equity amounting to $7.8 million, which has significantly improved its financial standing [3][9] Compliance Efforts - Following a deficiency letter from Nasdaq in May 2024, Evaxion presented a compliance plan and was granted an initial extension, which expired in November 2024 [7] - After appealing the delisting determination, Evaxion successfully obtained another extension from Nasdaq after a hearing in January 2025 [8]

Core Insights - Evaxion Biotech A/S has completed dosing for all 16 patients in its phase 2 trial of the personalized cancer vaccine EVX-01, which targets advanced melanoma, and is on track for data readout in the second half of 2025 [1][2] - The trial is designed to evaluate EVX-01 in combination with Merck's KEYTRUDA® (pembrolizumab), with each vaccine tailored to the individual patient's tumor profile [5][7] - Interim data from the trial presented at the ESMO Congress in September 2024 showed a 69% overall response rate, with tumor reduction observed in 15 out of 16 patients, indicating strong potential for EVX-01 as a treatment option [6] Company Overview - Evaxion Biotech A/S is a clinical-stage TechBio company that utilizes its AI-Immunology™ platform to develop personalized vaccines for cancer and other diseases [11] - The company aims to transform patient care by providing innovative and targeted treatment options, with a focus on high unmet medical needs in oncology and infectious diseases [11] Product Details - EVX-01 is a personalized peptide-based cancer vaccine intended for first-line treatment of multiple advanced solid cancers, specifically designed to engage the patient's immune system [4][7] - The vaccine's development leverages AI technology to create tailored therapies based on individual immune characteristics and tumor profiles [4][7]

Core Viewpoint - Evaxion Biotech A/S has implemented a change in the ratio of its American Depositary Shares (ADSs) to ordinary shares, effective January 14, 2025, transitioning from a one-to-ten ratio to a one-to-fifty ratio, which is akin to a one-for-five reverse ADS split aimed at enhancing liquidity for ADS holders [1][2][5]. Group 1: ADS Ratio Change - The ADS Ratio Change has been made effective, changing from one ADS representing ten ordinary shares to one ADS representing fifty ordinary shares [2]. - This change is designed to support liquidity in the Company's ADSs and is equivalent to a one-for-five reverse ADS split [2][5]. - The exchange of existing ADSs for new ADSs occurred automatically on the effective date, with existing ADSs being cancelled and new ADSs issued [3][4]. Group 2: Impact on Shareholders - All shareholders are uniformly affected by the ADS Ratio Change, which will not alter their percentage interest in the Company's equity, except for fractional ADSs [4]. - Fractional entitlements to new ADSs will be aggregated and sold, with net cash proceeds distributed to ADS holders [4]. - The trading price of the ADS is expected to increase proportionally as a result of the ratio change, although no assurance can be given regarding the actual trading price post-change [5]. Group 3: Company Overview - Evaxion Biotech A/S is a clinical-stage TechBio company that utilizes its AI-Immunology™ platform to develop vaccines targeting cancer, bacterial diseases, and viral infections [6]. - The company is focused on creating innovative and targeted treatment options through its proprietary AI prediction models [6].

COPENHAGEN, Denmark, January 10, 2025 - Evaxion Biotech A/S (NASDAQ: EVAX) (“Evaxion”), a clinical-stage TechBio company specializing in developing AI-Immunology™ powered vaccines, today announced that it is amending the effective date for its plans to change the ratio of its American Depositary Shares (“ADSs”) to its ordinary shares, DKK 1 nominal value (the “ADS ratio”), from the current one (1) ADS representing ten (10) ordinary share to a new ADS ratio of one (1) ADS representing fifty (50) ordinary sha ...

COPENHAGEN, Denmark, December 30, 2024 - Evaxion Biotech A/S (NASDAQ:EVAX) ("Evaxion"), a clinical-stage TechBio company specializing in developing AI-Immunology™ powered vaccines, today announced that it plans to change the ratio of its American Depositary Shares ("ADSs") to its ordinary shares, DKK 1 nominal value (the "ADS ratio"), from the current one (1) ADS representing ten (10) ordinary share to a new ADS ratio of one (1) ADS representing fifty (50) ordinary shares (the "ADS ratio change"). The ADS r ...

Evaxion and the European Investment Bank (EIB) are in advanced discussions about conversion of €3.5 million out of Evaxion's €7 million loan with EIB into an equity-type instrumentSuch conversion is expected to increase Evaxion's equity by $3.7 million immediately upon completionThe conversion would significantly enhance Evaxion's equity and capital structure. As such, it is an important part of Evaxion's plan on ensuring ongoing compliance with the Nasdaq listing requirements An agreement is expected to be ...

COPENHAGEN, Denmark, October 31, 2024 - Evaxion Biotech A/S (NASDAQ: EVAX) (“Evaxion”), a clinical-stage TechBio company specializing in developing AI-Immunology™ powered vaccines, provides business update and announces third quarter 2024 financial results. Business highlights (since last quarterly update) Since the second quarter 2024 business update, we have continued to execute strongly on our strategy and plans with several major milestones achieved. Key highlights include: Significant expansion of the ...

COPENHAGEN, Denmark, October 28, 2024 - Evaxion Biotech A/S (NASDAQ: EVAX) ("Evaxion"), a clinical-stage TechBio company specializing in developing AI-Immunology™ powered vaccines, will provide a business update and report its third quarter 2024 financial results on Thursday October 31, 2024, before opening of the Nasdaq CM. Evaxion's Executive Management will host a conference call and webcast the same day at 13:30 CET/08:30 EST, presenting the update and results as well as taking questions. This event is ...

Data from three separate clinical trials documents the strong ability of the AI-Immunology™ platform to select clinically relevant vaccine targets Strongest outcomes are generated by the top-ranked AI-Immunology™ vaccine targets, thereby linking AI-vaccine design with real-world evidence This underscores the platform's unique potential in selecting effective vaccine targets The ongoing generation of relevant clinical data allows for continuous refinement of AIImmunology™ thereby broadening the commercial po ...

Improved precision of the AI-Immunology™ platform in predicting clinically relevant vaccine targets boosts the potential of its AI-derived vaccine candidates The improvement has been achieved through iterative learning and the integration of advanced bioinformatics and machine learning techniques In the ongoing phase 2 trial with personalized cancer vaccine EVX-01, 79% of the AIImmunology™ predicted vaccine targets triggered a tumor-specific immune response, a significant increase from 58% observed in the E ...