BUZZ-Evaxion down after Merck opts out of gonorrhea vaccine licensing agreement
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Evaxion's shares fell 1.2% after Merck decided not to license its gonorrhea vaccine, EVX-B2, leaving Evaxion with global rights. Evaxion plans to seek another licensing partner. Merck previously licensed another Evaxion vaccine, EVX-B3, potentially bringing $592 million in milestone payments. Merck's decision does not impact Evaxion's cash runway, which extends into H2 2027. EVAX shares are up 36% YTD.
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