Evaxion Biotech A/S (EVAX) AI Stock Analysis
EVAX AI stock analysis summary
AI ResearchEvaxion Biotech A/S is a clinical-stage biotechnology company developing AI-powered immunotherapies for oncology and infectious diseases. While annual revenue expanded to $7.5M in FY2025, the company remains unprofitable with a net loss of -$7.7M and a trailing twelve-month operating margin of -116.0%. Shares closed at $2.83, reflecting a 1-year decline of 70.5%.
- Market cap
- $25.5M
- Revenue (TTM)
- $7.5M
- P/E
- — fwd 3.6x
- 1Y return
- -70.5% S&P 500 16.8%
- Avg. target
- $11.25 297.5% vs last close
Bull case
- Revenue expanded at a 2-year CAGR of 915.5% from FY2023 through FY2025.
- Net cash stood at $6.9M as of June 30, 2026, supported by a current ratio of 5.06.
- Analysts maintain a mean price target of $11.25, which is 297.5% above the last closing price of $2.83.
Bear case
- Quarterly revenue growth dropped 100.0% year-over-year in the quarter ended June 30, 2026.
- The stock has dropped 70.5% over the past 12 months and is down 21.0% relative to its 200-day moving average.
- Operations remain cash-negative, generating free cash flow of -$6.7M in FY2025.
What Evaxion Biotech A/S does
Evaxion Biotech A/S is a clinical-stage biotechnology company that develops artificial intelligence-powered immunotherapies targeting cancers, bacterial infections, and viral illnesses. Its clinical pipeline includes EVX-01, an immunotherapy in Phase IIb clinical trials for metastatic melanoma, and EVX-02, a DNA-based immunotherapy in Phase IIa trials for adjuvant melanoma treatment. The company is also developing EVX-03 for various cancers, as well as pre-clinical vaccine candidates EVX-B1, EVX-B2, and EVX-V1 for bacterial and viral diseases. Founded in 2008 and based in Denmark, the company utilizes its AI platforms to discover and advance novel biopharmaceutical therapies.
Growth and profitability
Revenue rose from $73,000 in FY2023 to $3.3M in FY2024 and reached $7.5M in FY2025, representing a 2-year revenue CAGR of 915.5%. Annual net losses narrowed over this period from -$22.1M in FY2023 to -$10.6M in FY2024 and -$7.7M in FY2025. Diluted EPS improved from -$43.50 in FY2023 to -$1.50 in FY2025. In the latest quarter ended June 30, 2026, quarterly revenue growth fell 100.0% year-over-year. For the trailing twelve months, revenue was $7.5M, operating margin was -116.0%, and profit margin stood at -115.5% with EPS of -$1.00.
Balance sheet and cash flow
As of June 30, 2026, Evaxion Biotech held $14.0M in cash and short-term investments against total debt of $7.1M, yielding net cash of $6.9M. Shareholders' equity was $9.5M, total assets were $19.4M, and the current ratio stood at 5.06, with a debt-to-equity ratio of 0.75. Operating cash flow improved from -$17.7M in FY2023 to -$6.6M in FY2025, while free cash flow stood at -$6.7M in FY2025. In FY2025, capital expenditures were $11,034, and research and development expenses were $10.0M.
Valuation and performance
Evaxion Biotech trades at an enterprise value of $22.7M and a market capitalization of $25.5M. Its forward P/E of 3.6x is below the 17.3x median of its US-listed Healthcare peers. Its price-to-sales ratio is 3.4x compared to the peer median of 4.1x, and its EV-to-revenue ratio is 3.0x. As of October 16, 2026, the stock traded at $2.83, down 70.5% over the past year, while the S&P 500 benchmark SPY returned 16.8%. Over five years, the stock returned -99.3% versus 83.0% for SPY.
What analysts expect
Wall Street coverage consists of 3 Strong Buy ratings and 1 Buy rating, with no Hold, Sell, or Strong Sell ratings. The mean price target is $11.25, representing an upside of 297.5% above the last close of $2.83. For the fiscal year ending December 31, 2026, consensus estimates project $0 in revenue and an EPS of -$0.04. For the next fiscal year, 2 analysts project revenue of $4.7M and an EPS of -$0.01. Over the last four quarters, the company delivered 1 EPS beat. The next earnings date is November 19, 2026.
Key risks and what to watch
- Trailing twelve-month operating margin is negative at -116.0%, reflecting ongoing operational losses.
- Consensus estimates expect $0 in revenue for the current fiscal year ending December 31, 2026.
- The 52-week low of $2.72 is near the last closing price of $2.83 after a 5-year return of -99.3%.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this EVAX AI stock analysis
This page is an AI-written research summary of Evaxion Biotech A/S (EVAX). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: EVAX income statement, EVAX balance sheet, EVAX key metrics, EVAX analyst forecast, EVAX chart. See the EVAX stock overview for the latest quote and news.
EVAX AI stock analysis FAQ
What programs are in Evaxion Biotech's clinical pipeline?
The pipeline includes EVX-01 in Phase IIb trials for metastatic melanoma, EVX-02 in Phase IIa trials for adjuvant melanoma treatment, and EVX-03 for various cancers, alongside pre-clinical vaccine candidates EVX-B1, EVX-B2, and EVX-V1.
What is Evaxion Biotech's cash position?
As of June 30, 2026, the company held $14.0M in cash and short-term investments and $7.1M in total debt, resulting in net cash of $6.9M.
Does Evaxion Biotech pay a dividend?
Evaxion Biotech does not pay a dividend.
What are analysts forecasting for Evaxion Biotech's financial performance?
For the fiscal year ending December 31, 2026, analysts estimate revenue of $0 and an EPS of -$0.04. For the following fiscal year, 2 analysts project $4.7M in revenue and an EPS of -$0.01.