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BUZZ-Evaxion Biotech falls after pricing public offering

Reuters
Jan 31, 2025
BUZZ-Evaxion Biotech falls after pricing public offering

** 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;))

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