Evaxion Biotech falls after pricing public offering

Evaxion A/S

30/01/2025 18:07

** Shares of biotech firm Evaxion Biotech  EVAX.O  fall
28.6% to $2.42 
    ** EVAX says it is raising $10.8 mln through public offering
    ** EVAX is selling ~4 mln of its American Depositary Shares
at $2.71/shr, along with warrants to buy additional shares
    ** Offering priced at 20% discount to stock's last close
    ** Funds will be used to advance EVAX's vaccine development
pipeline and cover operating expenses, co says
    ** EVAX has ~1.2 mln outstanding shares, with market cap of
~4 mln - LSEG data
    ** Lake Street Capital Markets and Jones are acting as
exclusive placement agents for offering
    ** EVAX fell ~91% in 2024
  

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))