If you haven’t heard of Evaxion Biotech (NASDAQ:EVAX), you’re not alone. But with the company’s stock up nearly 200% in today’s pre-market session, it might be time to get acquainted with the Danish company.
EVAX shares closed yesterday at $6.50, down 34% on the year. However, this morning, the company’s share price touched as high as $25.
The exact reason for the massive jump isn’t clear. Evaxion has not made any announcements that would move its share price significantly. But any stock that suddenly gains nearly 200% is bound to attract attention. So here are 10 things you should know about Evaxion Biotech.
10 Things to Know About EVAX Stock
- The company is based in Copenhagen, Denmark
- Evaxion is focused on developing therapies and treatments for various types of cancers and infectious diseases.
- The company is somewhat unique in that it claims to use artificial intelligence technologies to develop its products.
- Specifically, Evaxion claims that it stimulates immune system responses in people through its “novel immunotherapies.“
- The company has not yet managed to bring any pharmaceutical products or prescription drugs to market.
- Evaxion currently has one cancer drug in the clinical trial phase within its home country of Denmark.
- Evaxion Biotech’s CEO Lars Wegner is a medical doctor who previously worked at Pfizer (NYSE:PFE).
- The company has won numerous awards from the biotech industry for its innovative technology.
- Evaxion reported having $18.8 million of cash on hand during the summer and said it is enough money to fund the company’s key programs into 2022.
- The company went public in February of this year, and, before today, the all-time high for EVAX stock was $10.34 per share.
On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.