Evaxion Biotech Inc. (NASDAQ: (EVAX) stock gained by 9.17% at last close whereas the EVAX stock price plunge by 8.88% in the pre-market trading session. Evaxion Biotech is a clinical-stage AI-immunology platform firm. They do their research on the human immune system in order to find and develop new cancer treatments as well as vaccinations for bacterial and viral infections.
EVAX stock on a decline,
Today, Evaxion Biotech reported that they have signed a clinical trial partnership and supply deal with subsidiaries of Merck & Co., Kenilworth, NJ (known as MSD outside the United States and Canada). Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Kenilworth, NJ, USA, owns the trademark KEYTRUDA. The deal is for a new Phase 2b research that will combine Evaxion’s cancer immunotherapy EVX-01 with MSD’s anti-PD-1 treatment KEYTRUDA.
EVX-01, a unique customized cancer neoepitope immunotherapy built on Evaxion’s patented PIONEER AI technology, is being studied in a Phase 1/2a study for the care of patients with melanoma. Patients with metastatic melanoma stages III and IV will be enrolled in the multicenter Phase 2b study, which will test the tailored neoepitope immunotherapy EVX-01 in conjunction with KEYTRUDA. It is anticipated to begin in the fourth quarter of 2021. According to the terms of the partnership, Evaxion will be in charge of the study’s execution; MSD will provide all of the required KEYTRUDA, and the two companies will continue to work as the data matures.
Lars Wegner, CEO of Evaxion, commented,
On their planned Phase 2b study with EVX-01, they are thrilled to be working with MSD that one of the world’s biggest immuno-oncology organizations. The company reported in July that promising Phase 1/2a findings suggested that EVX-01 might change the therapy landscape for melanoma and possibly other malignancies. They’re thrilled about the potential additional advantages of the drug candidate that will further improve therapy and increase the data supporting their platform and clinical pathway now that checkpoint inhibitors like KEYTRUDA have become the standard treatment for such individuals. Furthermore, the cost of performing the Phase 2b trial on EVX-01 will be reduced as a result of their agreement.
