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Inovio Stock Plummets on $20M Public Offering
30 Jul
Summary
- Inovio's shares dropped 30.8% in premarket trading.
- The company priced a $20 million public offering.
- Shares were offered at $0.95 each with accompanying warrants.
Inovio Pharmaceuticals Inc. (NASDAQ:INO) experienced a significant stock price decline, with shares falling 30.8% in Thursday premarket trading. This drop followed the company's announcement and pricing of a $20 million public offering.
The underwritten public offering involves 21,052,632 shares of common stock, each paired with warrants to purchase additional shares at an exercise price of $1.10. The combined offering price for each share and warrant unit was set at $0.95.
Piper Sandler is managing this offering, which is anticipated to conclude on or about July 31, 2026. Inovio, a biotechnology firm, is dedicated to developing DNA medicines aimed at treating and preventing HPV-related diseases, cancers, and infectious diseases.
