{"success":true,"data":{"pressRelease":{"id":"120397","rtpr_id":"nGNEbHD3pj","ticker":"EVAX","exchange":"NASDAQ","all_tickers":["EVAX"],"title":"Evaxion expands and refocuses R&D pipeline with EVX-05, an AI-designed off-the-shelf brain cancer vaccine program ","author":"Globe Newswire","published_at":"2026-08-17T12:00:00.078Z","article_body":"* EVX-05 is an off-the-shelf therapeutic glioblastoma (brain cancer) vaccine\ndesigned based on patient tumor samples. It targets novel conserved antigens\nidentified using Evaxion’s AI-Immunology™ platform\n* Glioblastoma is characterized by high mortality rates and significant unmet\nmedical needs. EVX-05 is being developed as a novel therapeutic approach to\ntreat glioblastoma\n* Evaxion is collaborating with a world-leading academic medical research\ninstitution, which is expected to conduct initial clinical testing of EVX-05\n* Evaxion maintains its cash runway into second half of 2027 as its R&D\npipeline is refocused with the addition of EVX-05 while the EVX-03 program is\ndiscontinued\nCOPENHAGEN, Denmark, August 17, 2026 - Evaxion A/S (NASDAQ: EVAX)\n(“Evaxion”), a clinical-stage TechBio company developing novel vaccines\nwith its pioneering AI-Immunology™ platform, expands it pipeline of cancer\nvaccine programs with EVX-05 against the deadly brain cancer glioblastoma.\n\nWe are collaborating with experts from Duke University School of Medicine to\ndevelop EVX-05. This program targets endogenous retrovirus (ERV)-derived\nantigens shared between glioblastoma patients, which AI-Immunology™ has\nunique capabilities in identifying. These ERV-antigens constitute a novel\nsource of highly attractive targets for off-the-shelf cancer vaccines.\n\nWith its new therapeutic concept, EVX-05 is being developed as a novel\ntherapeutic approach for glioblastoma. Current therapies are often inadequate,\nmeaning glioblastoma remains one of the most aggressive and deadly cancers.\n\n“We are delighted to transform our discoveries in glioblastoma into a\npromising new vaccine program with EVX-05, which could hold a significant\ntherapeutic potential in area of massive unmet medical need. We have an\noutstanding collaboration with Duke University and now see the huge benefits\nof combining their extensive disease understanding and clinical expertise with\nthe unique target discovery capabilities of AI-Immunology™,” says Birgitte\nRønø, CSO and COO of Evaxion.\n\n\"Patients with glioblastoma continue to face limited treatment options and\npoor outcomes,” said Mustafa Khasraw, M.D., professor at Duke University\nSchool of Medicine. “The potential of ERVs as therapeutic targets has long\nbeen acknowledged, if we can unlock this potential, it would be a significant\nadvancement towards improving care.”\n\nWorld-leading expertise\nEvaxion is currently undertaking optimization of a lead vaccine candidate for\nthe EVX-05 program as part of advancing it towards initial clinical testing.\nThis is expected to be carried out by Professor Khasraw and his team, allowing\nfor world-leading clinical expertise and knowledge of patient needs to help\nguide clinical development. The collaboration also potentially allows a\ncost-efficient way for Evaxion to study EVX-05 in a clinical phase 1 trial.\n\nEVX-05 builds on the same ground-breaking ERV-targeting concept as EVX-04,\nEvaxion’s vaccine candidate against acute myeloid leukemia. This confirms\nthe broad applicability of the concept across cancers where immunotherapies\nremain inadequate and conserved immunogenic antigens can be identified.\n\nBoth programs draw on learnings from the EVX-03 program, which has now been\ndiscontinued and removed from our R&D pipeline as a matter of portfolio\nmanagement. The costs related to EVX-05 are captured within Evaxion’s\nexisting budgets and hence does not impact on our cash runway, which continues\nto stretch into second half of 2027.\n\nConference call and webcast\nThis coming Thursday, August 20, Evaxion’s Executive Management will host a\nconference call and webcast at 8.30 ET/14.30 CET today, presenting our Q2 2026\nbusiness update and financial results as well as taking questions. EVX-05 will\nbe one of the topics discussed.\n\nTo join the conference call, listen to the presentation and ask verbal\nquestions, please register in advance via this link\n(https://www.globenewswire.com/Tracker?data=_fl-vORwGqyGklamlQ9PXxs-WyO0vmX0_0_vugzec_9oFo1eU6pjQUkDK1qvaLCplCy6rOc9J7We7yLMwlEK7GbG7ANuqsHvS1Nhi68jHiGLJkLgAVX5yVkiIXaytHa72F807ZfMKSOekidteQb0kjahtexyg5vniTV5imPq9Zs=)\nto receive the dial-in telephone numbers and a unique PIN code. The call can\nbe accessed 15 minutes prior to the start of the live event.\n\nTo join the webcast, please click on this link\n(https://www.globenewswire.com/Tracker?data=_fl-vORwGqyGklamlQ9PX53J5gax5OdhtGLfeW9R2Mc20oQE9SBsgTfMqb68pFMr3duwE9XVisiSknRRTbJu9F8m7PNmKS3HozpyrnZlOqM=).\nThe webcast recording will be available on our website shortly after the\nevent.\n\nAbout glioblastoma\nGlioblastoma is the most aggressive malignant primary brain tumor. It has an\nincidence rate of 3.19 per 100,000 persons in the United States and a median\nage of 64 years (National Institute of Health).\n\nNo cure exists for glioblastoma, and treatment outcomes remain poor: 50% of\npatients die approximately one year from diagnosis (New England Journal of\nMedicine, 2005).\n\nContact information \nEvaxion A/S\nMads Kronborg\nVice President, Investor Relations & Communication\n+45 53 54 82 96 \nmak@evaxion.ai\n\nAbout Evaxion \nEvaxion is a pioneering TechBio company based upon its proprietary, clinically\nvalidated and scalable AI platform, AI-Immunology™. The platform harnesses\nthe power of artificial intelligence to decode the human immune system and\ndevelop novel drug candidates for cancer and infectious diseases.\n\nWith AI-Immunology™ we conduct rapid, efficient and high-quality target\ndiscovery, drug design and development. Our team of +40 experts covers the\nentire value chain from target discovery to clinical development.\n\nWe have developed a clinical pipeline of both personalized and off-the-shelf\ncancer vaccine candidates as well as prophylactic vaccine candidates for\ninfectious diseases. All our candidates address high unmet medical needs,\nreflecting our commitment to transforming patients’ lives by providing\ninnovative and targeted treatment options.\n\nFor more information about Evaxion, AI-Immunology™ and our pipeline, please\nvisit our website\n(https://www.globenewswire.com/Tracker?data=F1L4e8G9OQccTgirN14qAa2U4F9eRyYYATxTfmhyo4r5FODPnuritQuWBndXj8AVh1oiSt5xTbE5DbnxtYdtew==). \n\nForward-looking statement \nThis announcement contains forward-looking statements within the meaning of\nSection 27A of the Securities Act of 1933, as amended, and Section 21E of the\nSecurities Exchange Act of 1934, as amended. The words “target,”\n“believe,” “expect,” “hope,” “aim,” “intend,” “may,”\n“might,” “anticipate,” “contemplate,” “continue,”\n“estimate,” “plan,” “potential,” “predict,” “project,”\n“will,” “can have,” “likely,” “should,” “would,”\n“could,” and other words and terms of similar meaning identify\nforward-looking statements. Actual results may differ materially from those\nindicated by such forward-looking statements as a result of various factors,\nincluding, but not limited to, risks related to: our financial condition and\nneed for additional capital; our development work; cost and success of our\nproduct development activities and preclinical and clinical trials;\ncommercializing any approved pharmaceutical product developed using our AI\nplatform technology, including the rate and degree of market acceptance of our\nproduct candidates; our dependence on third parties including for conduct of\nclinical testing and product manufacture; our inability to enter into\npartnerships; government regulation; protection of our intellectual property\nrights; employee matters and managing growth; our ADSs and ordinary\nshares, the impact of international economic, political, legal, compliance,\nsocial and business factors, including inflation, and the effects on\nour business from other significant geopolitical and macro-economic\nevents; and other uncertainties affecting our business operations and\nfinancial condition. For a further discussion of these risks, please refer to\nthe risk factors included in our most recent Annual Report on Form 20-F and\nother filings with the US Securities and Exchange Commission (SEC), which are\navailable at www.sec.gov. We do not assume any obligation to update any\nforward-looking statements except as required by law.","article_body_html":"","raw_payload":{"data":{"id":"nGNEbHD3pj","title":"Evaxion expands and refocuses R&D pipeline with EVX-05, an AI-designed off-the-shelf brain cancer vaccine program ","author":"Globe Newswire","ticker":"EVAX","created":"2026-08-17T12:00:00.078Z","tickers":["EVAX"],"exchange":"NASDAQ","article_body":"* EVX-05 is an off-the-shelf therapeutic glioblastoma (brain cancer) vaccine\ndesigned based on patient tumor samples. It targets novel conserved antigens\nidentified using Evaxion’s AI-Immunology™ platform\n* Glioblastoma is characterized by high mortality rates and significant unmet\nmedical needs. EVX-05 is being developed as a novel therapeutic approach to\ntreat glioblastoma\n* Evaxion is collaborating with a world-leading academic medical research\ninstitution, which is expected to conduct initial clinical testing of EVX-05\n* Evaxion maintains its cash runway into second half of 2027 as its R&D\npipeline is refocused with the addition of EVX-05 while the EVX-03 program is\ndiscontinued\nCOPENHAGEN, Denmark, August 17, 2026 - Evaxion A/S (NASDAQ: EVAX)\n(“Evaxion”), a clinical-stage TechBio company developing novel vaccines\nwith its pioneering AI-Immunology™ platform, expands it pipeline of cancer\nvaccine programs with EVX-05 against the deadly brain cancer glioblastoma.\n\nWe are collaborating with experts from Duke University School of Medicine to\ndevelop EVX-05. This program targets endogenous retrovirus (ERV)-derived\nantigens shared between glioblastoma patients, which AI-Immunology™ has\nunique capabilities in identifying. These ERV-antigens constitute a novel\nsource of highly attractive targets for off-the-shelf cancer vaccines.\n\nWith its new therapeutic concept, EVX-05 is being developed as a novel\ntherapeutic approach for glioblastoma. Current therapies are often inadequate,\nmeaning glioblastoma remains one of the most aggressive and deadly cancers.\n\n“We are delighted to transform our discoveries in glioblastoma into a\npromising new vaccine program with EVX-05, which could hold a significant\ntherapeutic potential in area of massive unmet medical need. We have an\noutstanding collaboration with Duke University and now see the huge benefits\nof combining their extensive disease understanding and clinical expertise with\nthe unique target discovery capabilities of AI-Immunology™,” says Birgitte\nRønø, CSO and COO of Evaxion.\n\n\"Patients with glioblastoma continue to face limited treatment options and\npoor outcomes,” said Mustafa Khasraw, M.D., professor at Duke University\nSchool of Medicine. “The potential of ERVs as therapeutic targets has long\nbeen acknowledged, if we can unlock this potential, it would be a significant\nadvancement towards improving care.”\n\nWorld-leading expertise\nEvaxion is currently undertaking optimization of a lead vaccine candidate for\nthe EVX-05 program as part of advancing it towards initial clinical testing.\nThis is expected to be carried out by Professor Khasraw and his team, allowing\nfor world-leading clinical expertise and knowledge of patient needs to help\nguide clinical development. The collaboration also potentially allows a\ncost-efficient way for Evaxion to study EVX-05 in a clinical phase 1 trial.\n\nEVX-05 builds on the same ground-breaking ERV-targeting concept as EVX-04,\nEvaxion’s vaccine candidate against acute myeloid leukemia. This confirms\nthe broad applicability of the concept across cancers where immunotherapies\nremain inadequate and conserved immunogenic antigens can be identified.\n\nBoth programs draw on learnings from the EVX-03 program, which has now been\ndiscontinued and removed from our R&D pipeline as a matter of portfolio\nmanagement. The costs related to EVX-05 are captured within Evaxion’s\nexisting budgets and hence does not impact on our cash runway, which continues\nto stretch into second half of 2027.\n\nConference call and webcast\nThis coming Thursday, August 20, Evaxion’s Executive Management will host a\nconference call and webcast at 8.30 ET/14.30 CET today, presenting our Q2 2026\nbusiness update and financial results as well as taking questions. EVX-05 will\nbe one of the topics discussed.\n\nTo join the conference call, listen to the presentation and ask verbal\nquestions, please register in advance via this link\n(https://www.globenewswire.com/Tracker?data=_fl-vORwGqyGklamlQ9PXxs-WyO0vmX0_0_vugzec_9oFo1eU6pjQUkDK1qvaLCplCy6rOc9J7We7yLMwlEK7GbG7ANuqsHvS1Nhi68jHiGLJkLgAVX5yVkiIXaytHa72F807ZfMKSOekidteQb0kjahtexyg5vniTV5imPq9Zs=)\nto receive the dial-in telephone numbers and a unique PIN code. The call can\nbe accessed 15 minutes prior to the start of the live event.\n\nTo join the webcast, please click on this link\n(https://www.globenewswire.com/Tracker?data=_fl-vORwGqyGklamlQ9PX53J5gax5OdhtGLfeW9R2Mc20oQE9SBsgTfMqb68pFMr3duwE9XVisiSknRRTbJu9F8m7PNmKS3HozpyrnZlOqM=).\nThe webcast recording will be available on our website shortly after the\nevent.\n\nAbout glioblastoma\nGlioblastoma is the most aggressive malignant primary brain tumor. It has an\nincidence rate of 3.19 per 100,000 persons in the United States and a median\nage of 64 years (National Institute of Health).\n\nNo cure exists for glioblastoma, and treatment outcomes remain poor: 50% of\npatients die approximately one year from diagnosis (New England Journal of\nMedicine, 2005).\n\nContact information \nEvaxion A/S\nMads Kronborg\nVice President, Investor Relations & Communication\n+45 53 54 82 96 \nmak@evaxion.ai\n\nAbout Evaxion \nEvaxion is a pioneering TechBio company based upon its proprietary, clinically\nvalidated and scalable AI platform, AI-Immunology™. The platform harnesses\nthe power of artificial intelligence to decode the human immune system and\ndevelop novel drug candidates for cancer and infectious diseases.\n\nWith AI-Immunology™ we conduct rapid, efficient and high-quality target\ndiscovery, drug design and development. Our team of +40 experts covers the\nentire value chain from target discovery to clinical development.\n\nWe have developed a clinical pipeline of both personalized and off-the-shelf\ncancer vaccine candidates as well as prophylactic vaccine candidates for\ninfectious diseases. All our candidates address high unmet medical needs,\nreflecting our commitment to transforming patients’ lives by providing\ninnovative and targeted treatment options.\n\nFor more information about Evaxion, AI-Immunology™ and our pipeline, please\nvisit our website\n(https://www.globenewswire.com/Tracker?data=F1L4e8G9OQccTgirN14qAa2U4F9eRyYYATxTfmhyo4r5FODPnuritQuWBndXj8AVh1oiSt5xTbE5DbnxtYdtew==). \n\nForward-looking statement \nThis announcement contains forward-looking statements within the meaning of\nSection 27A of the Securities Act of 1933, as amended, and Section 21E of the\nSecurities Exchange Act of 1934, as amended. The words “target,”\n“believe,” “expect,” “hope,” “aim,” “intend,” “may,”\n“might,” “anticipate,” “contemplate,” “continue,”\n“estimate,” “plan,” “potential,” “predict,” “project,”\n“will,” “can have,” “likely,” “should,” “would,”\n“could,” and other words and terms of similar meaning identify\nforward-looking statements. Actual results may differ materially from those\nindicated by such forward-looking statements as a result of various factors,\nincluding, but not limited to, risks related to: our financial condition and\nneed for additional capital; our development work; cost and success of our\nproduct development activities and preclinical and clinical trials;\ncommercializing any approved pharmaceutical product developed using our AI\nplatform technology, including the rate and degree of market acceptance of our\nproduct candidates; our dependence on third parties including for conduct of\nclinical testing and product manufacture; our inability to enter into\npartnerships; government regulation; protection of our intellectual property\nrights; employee matters and managing growth; our ADSs and ordinary\nshares, the impact of international economic, political, legal, compliance,\nsocial and business factors, including inflation, and the effects on\nour business from other significant geopolitical and macro-economic\nevents; and other uncertainties affecting our business operations and\nfinancial condition. For a further discussion of these risks, please refer to\nthe risk factors included in our most recent Annual Report on Form 20-F and\nother filings with the US Securities and Exchange Commission (SEC), which are\navailable at www.sec.gov. We do not assume any obligation to update any\nforward-looking statements except as required by law."},"type":"article","timestamp":"2026-08-17T12:00:00.208949223Z","server_sent_at_ms":1786968000208},"received_at":"2026-08-17T12:00:00.265Z","source_url":null},"analysis":{"id":"109385","press_release_id":"120397","analysis_json":{"industry":{"label":"Biotechnology","sector":"Health Care"},"redFlags":["EVX-03 program discontinued and removed from pipeline"],"eventType":"operations_update","narrative":"Evaxion is expanding its pipeline with EVX-05, an off-the-shelf therapeutic vaccine for glioblastoma developed using its AI-Immunology™ platform.\n\nThe company is collaborating with Duke University School of Medicine to conduct initial clinical testing, while discontinuing the EVX-03 program as part of portfolio management.\n\nManagement affirmed that costs for EVX-05 are within existing budgets, maintaining the cash runway into the second half of 2027.","sentiment":"mixed","agentHooks":{"shouldPost":false,"suggestedAngle":"Pipeline shift: New AI-designed brain cancer program added while EVX-03 is cut."},"keyFigures":{"customDimensions":{"cash_runway":"second half of 2027","patient_mortality_median":"1 year"}},"quotedText":"We are delighted to transform our discoveries in glioblastoma into a promising new vaccine program with EVX-05, which could hold a significant therapeutic potential in area of massive unmet medical need.","namedEntities":{"people":[{"name":"Birgitte Rønø","role":"CSO and COO"},{"name":"Mustafa Khasraw","role":"Professor at Duke University School of Medicine"},{"name":"Mads Kronborg","role":"Vice President, Investor Relations & Communication"}],"products":["EVX-05","EVX-03","EVX-04","AI-Immunology™"],"companies":[{"name":"Evaxion A/S","ticker":"EVAX"},{"name":"Duke University School of Medicine","relationship":"partner"}],"dollarAmounts":[]},"materialImpact":{"score":3,"reasoning":"Positive addition of a new AI-designed brain cancer program (EVX-05) in collaboration with Duke University, offset by the discontinuation of the EVX-03 program. Cash runway remains unchanged into H2 2027."},"tickerRelevance":{"others":[],"primary":"EVAX"},"globalImportance":25,"audienceRelevance":20,"eventTypeSecondary":["restructuring"],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"pipeline-adjustment","sectorWeight":"biotech","collaboration_boost":"duke-university"}},"event_type":"operations_update","event_type_secondary":["restructuring"],"sentiment":"mixed","material_impact_score":3,"narrative":"Evaxion is expanding its pipeline with EVX-05, an off-the-shelf therapeutic vaccine for glioblastoma developed using its AI-Immunology™ platform.\n\nThe company is collaborating with Duke University School of Medicine to conduct initial clinical testing, while discontinuing the EVX-03 program as part of portfolio management.\n\nManagement affirmed that costs for EVX-05 are within existing budgets, maintaining the cash runway into the second half of 2027.","key_figures":{"customDimensions":{"cash_runway":"second half of 2027","patient_mortality_median":"1 year"}},"named_entities":{"people":[{"name":"Birgitte Rønø","role":"CSO and COO"},{"name":"Mustafa Khasraw","role":"Professor at Duke University School of Medicine"},{"name":"Mads Kronborg","role":"Vice President, Investor Relations & Communication"}],"products":["EVX-05","EVX-03","EVX-04","AI-Immunology™"],"companies":[{"name":"Evaxion A/S","ticker":"EVAX"},{"name":"Duke University School of Medicine","relationship":"partner"}],"dollarAmounts":[]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-17T12:00:27.657Z","global_importance":25,"audience_relevance":20,"importance_components":{"tickerTier":"small-cap","eventGravity":"pipeline-adjustment","sectorWeight":"biotech","collaboration_boost":"duke-university"}},"durationMs":27386,"modelName":"glm-4.7"}}