Inovio Pharma dives on equity offering plans

Piper Sandler Companies

02/07/2025 21:55

** Inovio Pharmaceuticals' INO.O shares down 22% to $1.67 in extended trading as it seeks equity raise

** Co, which focuses on treating HPV-related diseases, cancer, and infectious diseases, announces proposed stock and warrants offering; deal size not disclosed

** It intends to use net proceeds primarily for development of clinical pipeline, preparing for a potential commercial launch of INO-3107, if approved, and for general purposes, per the prospectus

** Piper Sandler sole bookrunner for offering

** Plymouth Meeting, Pennsylvania-based firm has ~36.7 mln shares outstanding for nearly $80 mln market cap

** INO shares on Weds ended up 4.9% at $2.14, up 17% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))