Inovio Pharma (INO) to Offer $150M in Common Stock

INOVIO Pharmaceuticals, Inc. (Nasdaq: INO) announced that it has commenced an underwritten public offering of $150 million of shares of its common stock. All of the shares are being offered by INOVIO. In addition, INOVIO intends to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the number of shares of common stock sold in connection with the offering.

INOVIO intends to use the net proceeds from this offering for the development of its clinical pipeline, including clinical development expenses relating to INO-4800 and research and development expenses, and for general corporate purposes, including working capital and general and administrative expenses.

BofA Securities, Jefferies and Cantor are acting as joint book-running managers for the offering. Oppenheimer & Co. is acting as lead manager for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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