Monitor the ESMO 2026 presentation in October for EVX-01 three-year data, which is the key near-term catalyst. Cash runway into H2 2027 reduces near-term dilution risk, but the company remains pre-revenue and will need additional capital before then. Partnership discussions are ongoing but unconfirmed.
Price Chart
Executive Summary
Evaxion reported Q2 2026 net loss of $3.7M, in line with expectations and improved from $4.8M a year ago, with cash of $14.0M funding operations into H2 2027. The company highlighted pipeline progress including upcoming ESMO data for EVX-01 and preclinical advances for EVX-04 and EVX-05, but reported zero revenue and a GAAP EPS of -$0.01, which was a 4900% miss vs the -$0.01 consensus estimate due to a rounding artifact on a tiny base. The filing is neutral as the financials were as expected and the EPS miss is mechanical on a pre-revenue biotech with minimal analyst coverage, while pipeline catalysts are forward-looking and uncertain.
Key Financial Metrics
Key Facts
- Q2 2026 net loss of $3.7M vs $4.8M in Q2 2025, in line with expectations
- Cash and cash equivalents of $14.0M as of June 30, 2026, providing runway into H2 2027
- R&D expenses of $2.3M, G&A of $1.5M, both aligned with Q1 2026
- Zero revenue reported; GAAP EPS of -$0.01 vs consensus of -$0.01 (miss of -4900% is a mechanical artifact of a tiny base)
- Pipeline catalysts: three-year EVX-01 data at ESMO 2026, preclinical progress on EVX-04 and EVX-05, and EVX-V1 CMV vaccine data
Financial Impact
Net loss improved 22% YoY to $3.7M; cash burn $4.4M in Q2 2026; no revenue generated
Risk Factors
- Pre-revenue clinical-stage biotech with no approved products
- Cash runway only into H2 2027; likely need for additional financing
- Pipeline candidates are early-stage (preclinical/Phase 2) with high clinical risk
- EPS miss of -4900% is a rounding artifact but may spook algorithmic traders
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3348249 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 18d ago | 6-K | $3.07 $3.21 | ▲ +4.56% | ▲ +4.45% | $3.21 (+4.63%) |
Sep 4, 2026 28d ago | 6-K | $3.12 $3.07 | ▲ +1.60% | ▲ +0.39% | $3.21 (−2.96%) |
Aug 20, 2026 6w ago | 6-K | $3.28 $3.15 | ▼ −3.96% | ▼ −5.08% | $3.21 (−2.07%) |
Aug 20, 2026 6w ago | Press Release | $3.28 $3.15 | ▼ −3.96% | ▼ −5.08% | $3.21 (−2.07%) |
Aug 17, 2026 6w ago | 6-K | $3.13 $3.40 | ▲ +8.63% | ▲ +9.82% | $3.21 (+2.63%) |
Aug 14, 2026 7w ago | 6-K | $3.34 $3.31 | ▼ −0.90% | ▲ +0.47% | $3.21 (−3.83%) |
Aug 14, 2026 7w ago | Press Release | $3.34 $3.31 | ▼ −0.90% | ▲ +0.47% | $3.21 (−3.83%) |
Jul 17, 2026 11w ago | 6-K | $3.08 $3.05 | ▼ −0.81% | ▼ −0.13% | $3.21 (+4.46%) |
Jul 17, 2026 11w ago | Press Release | $3.08 $3.05 | ▼ −0.81% | ▼ −0.13% | $3.21 (+4.46%) |
Jul 13, 2026 11w ago | 6-K | $3.02 $3.08 | ▲ +1.82% | ▲ +2.61% | $3.21 (+6.36%) |
US Market Status
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