Aug 20, 2026 earnings call — AI-Immunology vaccines and cash runway
Evaxion ended Q2 with $14 million cash and confirmed cash runway into the second half of 2027.
EPS $-0.01 (est $-0.01)
Key quotes
"we will present 3-year EVX-01 Phase 2 outcome data at the ESMO Congress in October."
"And we have mined patient sequencing data identifying approximately 1.5 million ERV fragments and selected 16 of these as the fragments that will be included in the EVX-05 vaccine."
"we have maintained a disciplined focus on our resource allocation, really strongly aligned to where we can build the most value from the platform."
Analyst Q&A 3
EVX-05 progress and Duke role
Q (Thomas Flaten · Lake Street): When will we get more news on EVX-05? What role did Duke play in its development so far?
A: They said the Duke collaboration provided sequencing data from treated patients and helped identify shared ERV features that support an off-the-shelf approach. They have finished target discovery and are now moving toward lead selection and IND-enabling activities, but they have not set firm timelines yet.
"We have conducted and concluded on what we would call target discovery, so selecting the targets that will be included in the vaccine, and we are now heading towards lead selection." — Birgitte Rono (CFO)
EVX-01 data, EVX-04 clinic steps, partnerships, cash
Q (Swayampakula Ramakanth · H.C. Wainwright): What would be a clinically meaningful durability result for EVX-01 at ESMO? What are the gating steps to get EVX-04 into the clinic? Where are partnership talks? How do you see cash getting into H2 2027?
A: For EVX-01 they want similar or improved overall response rate at the extension time point and maintained T cell responses, which they view as positive for partnership discussions. For EVX-04 they have done target discovery and lead selection and are in IND-enabling work including GMP manufacturing, immune testing, site engagement and regulatory filing work on track for regulatory filing by the end of the year. On partnerships they said discussions are active but some parties are waiting to see broader field data; on cash they confirmed $14 million on the balance, expect runway into the second half of 2027, and plan to use the ATM facility plus potential deals or partnerships if needed.
"On top of that, so we still do expect that with the runway and with the focus on where we spend, how we spend that we still, as mentioned earlier, can confirm that we are in the second half of 2027." — Thomas Schmidt
EVX-05 patient group, timeline, broader use
Q (Jones): Which glioblastoma patients are most likely to benefit from EVX-05? When will first-in-human start and what milestones precede it? How broadly could ERV targeting apply to other tumors?
A: They have not specified a patient subgroup yet and are still analyzing ERV profiles to identify the optimal patient population. They finished target discovery, are experimentally testing several vaccine candidates for lead selection, then will do IND-enabling work before first-in-human — so no firm timelines until lead selection. They said the ERV approach could apply beyond glioblastoma to other solid tumors and hematologic malignancies where shared antigens exist, depending on indication profiles.
"We are still working on identifying or -- we are still looking into different patient subsets and looking at the different ERV profiles and seeing what would be the most optimal set of the most optimal patient population." — Birgitte Rono (CFO)