Quarterly ResultMay 7, 2026, 07:33 AM
Evaxion Q1 Net Loss $3.6M; EVX-01 Shows 86% Vaccine Target Recognition
AI Summary
Evaxion A/S provided a business update and announced its first quarter 2026 financial results, reporting a net loss of $3.6 million, an increase from $1.6 million in Q1 2025, primarily due to a non-recurring financial income in the prior year. The company highlighted significant progress, including new data demonstrating 86% vaccine target recognition by its AI-Immunology platform in personalized cancer vaccine EVX-01, and the successful completion of the one-year extension of its EVX-01 phase 2 trial. Evaxion also reported $18.4 million in cash and cash equivalents as of March 31, 2026, maintaining its cash runway into the second half of 2027, and announced key organizational optimizations.
Key Highlights
- Evaxion reported a net loss of $3.6 million for Q1 2026, compared to $1.6 million in Q1 2025.
- R&D expenses were $2.3 million for Q1 2026, a slight increase YoY.
- G&A expenses decreased to $1.5 million for Q1 2026 from $1.7 million in Q1 2025.
- Cash and cash equivalents were $18.4 million as of March 31, 2026.
- The company maintains a cash runway into the second half of 2027.
- New data showed 86% vaccine target recognition by AI-Immunology in personalized cancer vaccine EVX-01.
- Completed the one-year extension of the phase 2 trial with EVX-01.
- Birgitte Rønø promoted to Chief Scientific and Chief Operating Officer; Jens Bitsch-Nørhave elected to Board of Directors.