JAN 2·TipRanksLow
Evaxion Biotech Announces New ADS Offering to Raise $45.5 Million
Evaxion Biotech A/S has filed a prospectus supplement with the SEC for the offer and sale of American Depositary Shares (ADSs) worth up to $45.5 million. This financial move, part of an existing sales agreement with JonesTrading Institutional Services LLC, aims to strengthen the company's capital and market standing. The company currently holds a "Buy" rating from analysts with an average price target of $16.00, though its valuation is noted as unattractive due to persistent net losses.