Evaxion Biotech (EVAX) Q2 2026 earnings summary

Executive summary

• Achieved significant R&D milestones across oncology and infectious disease vaccine programs, including new data validating the AI-Immunology platform and progress in EVX-01, EVX-04, and EVX-05.

• Maintained disciplined resource allocation and operational momentum, ensuring a cash runway into the second half of 2027.

• Won the 2026 Prix Galien UK Award for Best digital health solution for the AI-Immunology platform.

• Active business development and partnership discussions are ongoing, supported by external validation and industry recognition.

Financial highlights

• Net loss for Q2 2026 was $3.7 million, or $0.01 per basic and diluted share, compared to $4.8 million in Q2 2025.

• Operating expenses slightly reduced year-over-year, with R&D expenses increasing and G&A expenses decreasing.

• Cash and cash equivalents were $14.0 million as of June 30, 2026, with equity at $9.5 million.

• Cash runway confirmed to extend into the second half of 2027.

Outlook and guidance

• Three-year EVX-01 phase II outcome data to be presented at ESMO Congress in October 2026, focusing on durability and efficacy.

• Regulatory filing for EVX-04 expected by year-end 2026, with IND-enabling activities and GMP manufacturing underway.

• Continued expansion of AI-Immunology applications in autoimmune and infectious disease programs.

• On track to deliver according to the financial plan and expected operational cash burn.