BioVaxys Amends Asset Purchase Agreement with Horizon, Eases Capital Raise Requirement

BioVaxys Technology ( (TSE:BIOV) ) just unveiled an announcement.

BioVaxys Technology Corp. has amended its Asset Purchase Agreement with Horizon Technology Finance Corporation, reducing the capital raise requirement from $10 million to approximately $2 million by September 30, 2025. This amendment facilitates BioVaxys’s acquisition of IMV Inc.’s assets, enhancing its strategic position in the biotechnology sector. The agreement also includes issuing share purchase warrants to Horizon and Powerscourt Investments, and extends the Licensing Earn-Out Payments Term to 2033, potentially impacting revenue streams and stakeholder interests.

Spark’s Take on TSE:BIOV Stock

According to Spark, TipRanks’ AI Analyst, TSE:BIOV is a Underperform.

BioVaxys Technology faces severe financial challenges, with no revenue and reliance on external financing, which heavily impacts its overall score. Technical analysis indicates weak momentum and a bearish trend, while the negative valuation metrics highlight the risks involved. However, the company is taking steps towards financial management and exploring new market opportunities, which could improve its future prospects.

To see Spark’s full report on TSE:BIOV stock, click here.

More about BioVaxys Technology

BioVaxys Technology Corp. is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies using its DPX™ immune-educating technology platform and HapTenix© ‘neoantigen’ tumor cell construct platform. The company targets treatments for cancers, infectious diseases, antigen desensitization for food allergies, and other immunological diseases. Its clinical pipeline includes therapies for advanced cancers such as Relapsed-Refractory Diffuse Large B Cell Lymphoma and platinum-resistant Ovarian Cancer, as well as immunotherapies for Respiratory Syncytial Virus and peanut allergy prophylaxis.

Average Trading Volume: 258,948

Technical Sentiment Signal: Sell

Current Market Cap: C$11.66M

Find detailed analytics on BIOV stock on TipRanks’ Stock Analysis page.