Evaxion Stock Jumps 27% On Merck Out-Licensing Deal

(RTTNews) - Evaxion A/S (EVAX) surged 27.27 percent to $4.20 on Thursday, gaining $0.79, after announcing it has out-licensed its vaccine candidate EVX-B3 to Merck & Co. (MSD) under a previously signed option and license agreement. The deal includes a $7.5 million upfront payment, upto $592 million in potential milestones, and royalties on net sales.

The stock opened at $4.28 and traded between $3.91 and $4.75, compared with a prior close of $3.30 on the Nasdaq.

Trading volume spiked to 71.4 million shares, well above the average of 92,139. Evaxion now trades within a 52-week range of $1.20 to $16.10.

4.2000 +0.9000 (+27.2727%)