Evaxion Biotech files offering to sell up to $100M ordinary shares

May 20, 2022 5:54 PM ETEvaxion Biotech A/S (EVAX)By: Anuron Mitra, SA News Editor

Danish company Evaxion Biotech (EVAX) on Friday filed to sell up to $100M ordinary shares, including ordinary shares represented by American depositary shares.
The company said that, generally, it intends to use net proceeds of any offering of securities for working capital and other general corporate purposes.
U.S.-listed shares of EVAX earlier closed +1.6% at $1.86.
The filing comes after EVAX last week reported a beat on Q1 2022 GAAP EPS and said it expected its existing cash and cash equivalents to fund expenses and capex requirements through at least the next 12 months.