But we really believe our stock is worth $4

|By:, SA News Editor

Shares of nano cap Advaxis (ADXS) are down 26% premarket after the company announces a secondary offering of 4,080,000 shares of common stock at $3. The firm expects the financing to close by March 31.

It is part of a shelf registration filed with the SEC effective March 4.

Yesterday's closing price was $4.07. It peaked at $5.99 on February 18.