Page 1

EVAXION Evaxion announces business update and second quarter 2026 financial results COPENHAGEN , Denmark , August 20 , 2026 - Evaxion A / S ( NASDAQ : EVAX ) ( " Evaxion " ) , a clinical - stage TechBio company developing novel vaccines with its pioneering Al - Immunology ™ platform , provides business update and announces second quarter 2026 financial results . Business highlights ( since last quarterly update ) Evaxion is making steady progress towards completing its strategic milestones for 2026. Highlights include : • Announcing the upcoming presentation of three - year clinical data for personalized cancer vaccine candidate EVX - 01 at the ESMO Congress 2026 • Presentation of new data for EVX - 04 , an off - the - shelf cancer vaccine for acute myeloid leukemia ( AML ) • Expansion and refocusing of our R & D pipeline with EVX - 05 , a novel off - the - shelf therapeutic cancer vaccine program for glioblastoma • Presentation of new data for cytomegalovirus ( CMV ) vaccine candidate EVX - V1 • Winning the 2026 Prix Galien UK Award for Best digital health solution for Al - Immunology " • Cash runway unchanged with cash at hand to fund operations into the second half of 2027 " Progress remains strong in recent months , particularly regarding the expansion and progression of our R & D pipeline . Both EVX - 04 and EVX - 05 represent completely new concepts in targeting hard - to - treat cancers and are great examples of what we can do with Al - Immunology ™ to identify novel , conserved cancer targets for off - the - shelf vaccines . The same is true for EVX - V1 in the infectious disease space and we are excited by the successful progress of this next - generation , multi - component CMV - vaccine program . These programs and the combined R & D pipeline show how our Al - Immunology ™ platform can truly deliver product candidates , which is crucial in validating our platform and for partnerships , " says Helen Tayton- Martin , CEO of Evaxion . Conference call and webcast Evaxion's executive management will host a conference call and webcast at 8.30 ET / 14.30 CET today , presenting the business update and financial results as well as taking questions . To join the conference call , listen to the presentation and ask verbal questions , please register in advance via this link to receive the dial - in telephone numbers and a unique PIN code . The call can be accessed 15 minutes prior to the start of the live event . To join the webcast , please click on this link . The webcast recording will be available on our website shortly after the event . Research & Development ( R & D ) update Evaxion has a R & D pipeline of innovative vaccine candidates for both cancer and infectious diseases . In future , this is expected to be supplemented by programs for autoimmune diseases following application of Al - Immunology ™ in this space in the second half of 2026 . We are looking forward to presenting three - year clinical efficacy data for personalized cancer vaccine EVX - 01 , our most advanced pipeline asset , at the European Society for Medical Oncology ( ESMO ) Congress 2026 in October . Developed with Al - Immunology ™ M , EVX - 01 is designed to target multiple neoantigens ; cancer unique proteins arising from mutations . We completed the initially planned two - year treatment in the phase 2 trial with EVX - 01 in patients with advanced melanoma ( skin cancer ) last year with unprecedented results presented at ESMO in 2025 . Following on with a one - year extension of the phase 2 trial , the upcoming data will provide additional insights into potentially enhanced treatment effects and durability of the EVX - 01 - induced immune response . It will also offer insights into the vaccine's effect also as stand - alone treatment of these patients with advanced melanoma , in comparison to the prior administration in combination with pembrolizumab in the first two years of the trial . In addition to the personalized approach , we are leveraging Al - Immunology TM's capabilities to develop novel off - the - shelf cancer vaccines , including EVX - 04 targeting AML . Developed with Al - Immunology TM , EVX - 04 targets multiple non - conventional endogenous retrovirus ( ERV ) tumor antigens from the dark genome . ERV antigens are present in tumors but absent in normal tissue , making them highly attractive targets for cancer vaccines . Al - Immunology ™ has unique capabilities in identifying ERVS and this opens a whole new source of antigens , which can potentially greatly improve patient outcomes . We are progressing preclinical activities with EVX - 04 as planned and presented new data at the European Hematology Association ( EHA ) 2026 Congress . The data demonstrates EVX - 04's complete expression in human cells , including correct transcription and translation . Further , EVX - 04 is secreted in human cells , enabling immune recognition and activation . The data also shows that all ERV antigens included in EVX - 04 drive specific immune responses both in mice ( in vivo ) and human cells ( in vitro ) across different human immune profiles . These vaccine - induced immune cells mediate targeted cell - killing , highlighting EVX - 04's potential as a new effective therapeutic cancer vaccine . In parallel with preclinical studies , we are preparing the regulatory filing for clinical testing of EVX - 04 , which is expected to be submitted before the end of the year . We have also leveraged our capabilities to identify clinically relevant ERVS to expand our pipeline with EVX - 05 , a novel off - the - shelf cancer vaccine candidate for the deadly brain cancer glioblastoma .