Evaxion A/S
EVAX evidence brief
What we can confirm
What it means
What to watch
Prepared research question
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Traceable citations · Unknowns marked
BioSniper AI · EVAX
Evaxion A/S is a clinical-stage TechBio company developing AI-powered immunotherapies and vaccines, with no approved products and a strategy centered on partnerships to monetize its pipeline.
Key risk: No approved products
Market Cap
$25.1M
Cash Runway
—
Lead Asset
—
Next Catalyst
—
Financial data as of Dec 31, 2025.
Tracking 1 clinical trial for Evaxion A/S.
Evaxion A/S is a clinical-stage TechBio company developing AI-powered immunotherapies and vaccines, with no approved products and a strategy centered on partnerships to monetize its pipeline.
- Evaxion is a clinical-stage TechBio company with all product candidates in preclinical or clinical development and no recurring revenue [sec · filed 2026-03-05].
- As of December 31, 2025, Evaxion had cash and cash equivalents of $23.2 million and an accumulated deficit of $126.2 million [sec · filed 2026-03-05].
- The company generated $7.5 million in revenue for the period ended December 31, 2025, primarily from its license agreement with Merck Sharp & Dohme (MSD) [sec · filed 2026-03-05].
- Evaxion's AI-Immunology™ platform is novel and unproven, and the company may never develop products of commercial value [sec · filed 2026-03-05].
- The company's strategy is to engage in partnerships with large biopharmaceutical companies to advance its product candidates through late-stage development and commercialization [sec · filed 2026-03-05].
What works
- Evaxion has secured a partnership with Merck Sharp & Dohme (MSD), which generated $7.5 million in revenue as of December 31, 2025, demonstrating some ability to monetize its platform [sec · filed 2026-03-05].
- The company's cash position improved significantly from $6.0 million at December 31, 2024, to $23.2 million at December 31, 2025, indicating successful fundraising or partnership inflows [sec · filed 2026-03-05].
- Evaxion's AI-Immunology™ platform represents a novel approach to drug discovery, which could differentiate it in the competitive biotech landscape if validated [sec · filed 2026-03-05].
What to weigh
- Evaxion has incurred significant losses since inception, with an accumulated deficit of $126.2 million as of December 31, 2025, and expects to continue incurring losses for the foreseeable future [sec · filed 2026-03-05].
- The company's AI approach to product discovery is novel and unproven, and it may never develop products of commercial value [sec · filed 2026-03-05].
- Evaxion is dependent on successfully concluding partnerships to advance its product candidates and monetize its assets, and failure to secure new partnerships could harm its strategy [sec · filed 2026-03-05].
- The company has no approved vaccines or therapies using its technology, and none may ever be approved [sec · filed 2026-03-05].
From the filings
Quoted directly from source documents.
Evaxion has no recurring revenue and is dependent on partnerships.
“We are a clinical stage TechBio company, and all our product candidates remain in preclinical and clinical development. As a result, we currently have no recurring revenue and may not achieve commercial revenue for an extended period, if at all;”
SEC filings · March 5, 2026
Evaxion's accumulated deficit and cash position as of December 31, 2025.
“As of December 31, 2025, we had an accumulated deficit of $126.2 million and expect to continue to incur significant losses for the foreseeable future. As of December 31, 2025, and December 31, 2024, our available liquidity, comprised of cash and cash equivalents, was $23.2 million and $6.0 million, respectively”
SEC filings · March 5, 2026
Evaxion's AI platform is unproven.
“Our AI approach to the discovery of product candidates is novel and unproven, and we may never develop products of commercial value.”
SEC filings · March 5, 2026
Evaxion's strategy relies on partnerships for late-stage development.
“We believe that the costs associated with late-stage clinical development, regulatory approval, and commercialization of our product candidates exceed the resources of all but large biopharmaceutical companies. Accordingly, our strategy is to engage in partnerships with such companies”
SEC filings · March 5, 2026
Risks & what to watch (4)›
Key risks
- No approved products — Evaxion has no approved vaccines or therapies using its technology, and none may ever be approved [sec · filed 2026-03-05].
- Dependence on partnerships — The company is dependent on successfully concluding partnerships to advance its product candidates and monetize its assets [sec · filed 2026-03-05].
- Novel and unproven AI platform — Evaxion's AI approach to product discovery is novel and unproven, and it may never develop products of commercial value [sec · filed 2026-03-05].
- Significant accumulated losses — As of December 31, 2025, Evaxion had an accumulated deficit of $126.2 million and expects to continue incurring losses [sec · filed 2026-03-05].
What to watch
- Progress of Evaxion's preclinical and clinical programs, as delays or failures could materially harm the business [sec · filed 2026-03-05].
- Ability to secure new partnerships, which is critical to the company's strategy to advance product candidates and generate revenue [sec · filed 2026-03-05].
- Regulatory developments and clinical trial outcomes, as safety or efficacy issues could affect the pipeline and platform [sec · filed 2026-03-05].
- Cash runway and financing needs, given the company's significant losses and dependence on external funding [sec · filed 2026-03-05].
Sources: SEC filings · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
12
Total value held
$601K
| Holder | Shares | Value |
|---|---|---|
| renaissance technologies llc | 39,225 | $146K |
| xtx topco ltd | 22,053 | $82K |
| rhumbline advisers | 21,659 | $81K |
| boothbay fund management, llc | 18,426 | $69K |
| citadel advisors llc | 17,773 | $66K |
| smartharvest portfolios, llc | 13,808 | $51K |
| wesbanco bank inc | 10,000 | $37K |
| northwestern mutual wealth management co | 8,000 | $30K |
| eversource wealth advisors, llc | 2,986 | $20K |
| gamma investing llc | 5,198 | $19K |
Showing top 10 of 12 institutional holders of Evaxion A/S. Open the full 13F history after sign-in.
Short Interest
as of May 1, 2026- % of float
- 0.4%
- Days to cover
- 1.2
- Shares short
- 30,580
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
EVAX short interestFrequently asked questions
What is the AI investment thesis for Evaxion A/S?
Evaxion A/S is a clinical-stage TechBio company developing AI-powered immunotherapies and vaccines, with no approved products and a strategy centered on partnerships to monetize its pipeline.
Who is the CEO of Evaxion A/S?
Dr. Helen Katrina Tayton-Martin MBA, Ph.D. is the chief executive officer of Evaxion A/S (EVAX).
Where is Evaxion A/S headquartered?
Evaxion A/S (EVAX) is headquartered in Horsholm, Denmark.
What therapeutic areas does Evaxion A/S focus on?
Evaxion A/S develops therapies across Oncology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.