Evaxion Biotech News
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Evaxion have secured investments of USD 40 million in a new equity deal with Lincoln Park Capital. The investment allows Evaxion to draw on this facility when we wish, at market price.
CEO Lars Wegner sees the deal as an opportunity to increase Evaxion's capital preparedness in an uncertain market that has not been favoring biotech stocks from a global perspective.
"With the stock facility, we ensure that we have cash at hand to secure progression in all our activities, including running our clinical trials according to plan, even if the stock crisis continues."
Even in a struggling biotech market, Evaxio continue the journey through 2022 with a solid financial foundation, enabling the continued development of all lead programs - as communicated in our Q1 Financial Report.
Among others, Evaxion demonstrated continued progress in clinical trials, such as our EVX-02 program, which treats melanoma patients whose tumors have been successfully removed. In this program, Evaxion aim to solve one of the most pressing challenges in oncology: cancer relapse. In Q1, encouraging findings around the potential clinical benefits led us to accelerate this program's development.
In an interview with Swedish Biostock, our CEO, Lars Staal Wegner, talked about a productive first quarter of 2022.
https://www.biostock.se/en/2022/05/evaxion-biotech-shows-strong-clinical-momentum-in-q1/
Evaxion har en betalt digital IR-aftale med Proinvestor.com
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