BUZZ-Inovio Pharma tumbles on planned stock offering

Reuters2024-12-13

** Inovio Pharmaceuticals INO.O shares down 20.5% at $2.99 post-market as co plans equity raise

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

** Oppenheimer and Citizens JMP jt bookrunners

** INO shares on Thurs finished session down 6.6% at $3.76, a record low close

** Plymouth Meeting, Pennsylvania-based firm has ~26.1 mln shares outstanding for ~$98 mln market cap, per LSEG

** YTD, stock has lost ~39%

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

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

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