** 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;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.