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Wednesday, 01/24/2024 12:47:12 PM

Wednesday, January 24, 2024 12:47:12 PM

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$EVAX Jan. 24, 2024, 07:32 AM
InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Evaxion Biotech (NASDAQ:EVAX) stock is on the rise Wednesday after the company revealed a stake held by Merck (NYSE:MRK).

A filing with the Securities and Exchange Commission (SEC) notes that Merck now holds an 11.4% stake in Evaxion Biotech. That comes from the 2,297,884 shares of EVAX and warrants to acquire another 2,297,704 shares that the company owns.

The stake that Merck holds is based on the 40,204,700 shares outstanding as of Jan. 11, 2024. That comes from 37,906,996 shares of MRK stock outstanding and 2,297,704 shares issuable upon the exercise of warrants.
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