Inovio prices $20 million public offering at $0.95 per share

Inovio Pharmaceuticals (Nasdaq: INO) announced the pricing of an underwritten public offering of 21,052,632 shares of common stock along with accompanying warrants to purchase up to 42,105,264 shares, at a combined public offering price of $0.95 per share and accompanying warrant.

The warrants carry an exercise price of $1.10 per share, with each unit entitling the holder to purchase two shares of common stock. Gross proceeds are expected to be approximately $20.0 million, before deducting underwriting discounts, commissions, and offering expenses, and excluding any exercise of the warrants or the underwriter's option.

Inovio also granted the underwriter a 30-day option to purchase up to 3,157,894 additional shares and/or warrants to purchase up to 6,315,788 additional shares at the public offering price, less underwriting discounts and commissions.

All securities in the offering are being sold by Inovio. The offering is expected to close on or about July 31, 2026, subject to customary closing conditions. Piper Sandler is acting as sole manager for the offering.

A shelf registration statement related to the offering was filed with the Securities and Exchange Commission on July 2, 2026, and declared effective on July 10, 2026.

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