Advasa’s Direct Listing Raised No Cash; 94 Million Shares Are Registered for Resale
Advasa (ADBT) saw a 40% premarket gain on Tuesday, recovering slightly from a 97.8% drop since its August 25 Nasdaq debut. The company raised no cash in its direct listing, with 94 million shares registered for resale. Advasa reported $6.90 million in Q2 revenue and $3.65 million in net income, but cash reserves fell to $1.51 million due to operating expenses and debt repayment.


