Evaxion Regains Compliance with Nasdaq Minimum Bid Price Requirement

Evaxion Regains Compliance with Nasdaq Minimum

Bid Price Requirement

Denmark, Feb. 07, 2024 (GLOBE NEWSWIRE) - Evaxion Biotech A/S (NASDAQ: EVAX) ("Evaxion" or the "Company"),

a clinical-stage TechBio company specializing in developing AI-Immunology powered vaccines, today announced that on February 05,

2024, it received a Notification Letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq")

stating that the Company had regained compliance with the minimum bid price requirement set forth under Nasdaq Listing Rule 5550(a)(2).

The Notification Letter confirmed that the closing

bid price of the Company's American Depositary Shares has been at $1.00 per share or greater for ten consecutive business days from

January 22, 2024, to February 02, 2024, and that the Company has regained compliance with the listing rules of the Nasdaq Capital Market.

Biotech A/S is a pioneering TechBio company based upon its AI platform, AI-Immunology . Evaxion's proprietary and scalable

AI prediction models harness the power of artificial intelligence to decode the human immune system and develop novel immunotherapies

for cancer, bacterial diseases, and viral infections. Based upon AI-Immunology , Evaxion has developed a clinical-stage oncology

pipeline of novel personalized vaccines and a preclinical infectious disease pipeline in bacterial and viral diseases with high unmet

medical needs. Evaxion is committed to transforming patients' lives by providing innovative and targeted treatment options. For

more information about Evaxion and its groundbreaking AI-Immunology platform and vaccine pipeline, please visit

Source: Evaxion Biotech

contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E

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"continue," "estimate," "plan," "potential," "predict," "project,"

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other words and terms of similar meaning identify forward-looking statements. Actual results may differ materially from those

indicated by such forward-looking statements as a result of various factors, including, but not limited to, risks related to: our financial

condition and need for additional capital; our development work; cost and success of our product development activities and preclinical

and clinical trials; commercializing any approved pharmaceutical product developed using our AI platform technology, including the rate

and degree of market acceptance of our product candidates; our dependence on third parties including for conduct of clinical testing

and product manufacture; our inability to enter into partnerships; government regulation; protection of our intellectual property rights;

employee matters and managing growth; our ADSs and ordinary shares, the impact of international economic, political, legal, compliance,

social and business factors, including inflation, and the effects on our business from the worldwide ongoing COVID-19 pandemic and

the ongoing conflict in the region surrounding Ukraine and Russia and the Middle East; and other uncertainties affecting

our business operations and financial condition. For a further discussion of these risks, please refer to the risk factors included

in our most recent Annual Report on Form 20-F and other filings with the U.S. Securities and Exchange Commission (SEC),

which are available at www.sec.gov. We do not assume any obligation to update any forward-looking statements

except as required by law.