Evaxion Biotech receives, appeals delisting determination from Nasdaq

Evaxion Biotech (EVAX) received a letter dated November 11, 2024, with a delisting determination from Nasdaq Stock Market for failure to maintain stockholders’ equity of at least $2.5 million as required by Nasdaq Listing Rule 5550(b)(1). Evaxion has already appealed the determination by requesting a hearing on the matter and will seek another 180-day extension to comply with Nasdaq’s equity requirement. The appeal will stay any trading suspension of our American Depositary Shares until completion of the Nasdaq hearing process and expiration of any additional extension period granted by the panel following the hearing. During any additional extension, Evaxion intends to regain compliance and maintain its Nasdaq listing, however no guarantee of such compliance can be given.