Small Company, Big Price Swing

By: Dylan Sikes – AllPennyStocks.com News

Wednesday, September 21, 2022

Yet another biotech company is turning heads on Wednesday after it was annouced that an important milestone was reached by the company. According to the release, the company “reached an important milestone announcing today that it had enrolled its first patient in the global phase 2b clinical trial of EVX-01, the Company’s personalized cancer therapy for the treatment of melanoma.” This sent shares of Evaxion Biotech AS (Nasdaq:EVAX) soaring during the session.

Evaxion Biotech AS is an artificial intelligence immunology platform company. It uses proprietary AI technology, engineering expertise, and drug development know-how to simulate the human immune system and generate predictive models to identify and develop efficacious immunotherapies for patients in the global market. Its two lead product candidates are EVX-01 and EVX-02, for the treatment of various cancers.

As previously mentioned, shares of this micro cap rallied strongly following the news, briefly reaching up to $3.5199/share (+85.26%) at the session high. Shares cooled off throughout the session, but still managed to close up at $2.33/share (+22.63%).

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