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An announcement from Evaxion Biotech ( (EVAX) ) is now available.
On January 28, 2025, Evaxion Biotech announced it received a 180-day extension from Nasdaq to meet the minimum equity requirement, following a positive hearing on January 7, 2025. The company has already restored its equity above the required $2.5 million, securing $7.8 million through warrants and sales, which extends its cash runway until Q4 2025. Evaxion is also negotiating with the European Investment Bank to convert part of its loan into equity, potentially further boosting its financial position. This development is poised to stabilize Evaxion’s Nasdaq listing and support its ongoing business development efforts.
More about Evaxion Biotech
Evaxion Biotech A/S is a TechBio company that leverages its proprietary AI platform, AI-Immunology™, to develop innovative immunotherapies. The company focuses on creating personalized cancer vaccines and treatments for bacterial and viral infections, addressing high unmet medical needs. With a clinical-stage oncology pipeline, Evaxion aims to transform patient care using AI-powered technologies.
YTD Price Performance: 41.98%
Average Trading Volume: 1,145,323
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $7.07M
Learn more about EVAX stock on TipRanks’ Stock Analysis page.