Advaxis continues plunge on $16 mln capital raise

Ayala Pharmaceuticals

23/07/2019 14:11

** Advaxis  ADXS.O  shares plunging ~30% premarket and
plumbing new record lows after cancer drug developer prices
stock and warrants offering
    ** Co offers 9.2 mln shares and ~13.7 mln pre-funded
warrants at combined offering price of $0.70 for gross raise of
$16 mln  urn:newsml:reuters.com:*:nBwbHx2WRa
    ** Each common share and each pre-funded warrant comes with
common warrant to buy 3/4 of an additional share; each common
warrant has exercise price of $2.80, expires in 5 years
    ** ADXS plunged 28% to $0.92 on Mon after co filed amendment
to proposed deal  urn:newsml:reuters.com:*:nL2N24N117
    ** Co had ~8 mln shares outstanding at end-Apr, per filing
    ** Shares plunged 31% on Apr 3 after co raised $10 mln in
deep-discounted follow-on priced at $4  urn:newsml:reuters.com:*:nL1N21L09E
    ** ADXS down 68% YTD and has lost 96% of its value over past
one year

 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))