Inovio Down 20% After Hours on Planned Stock and Warrant Sale

Dow Jones2024-12-13

By Josh Beckerman

Inovio Pharmaceuticals shares were down 20% to $2.99 after hours as the company said it plans to sell stock and accompanying warrants.

The company intends to use proceeds primarily for the development of its clinical pipeline, including preparing for a potential commercial launch of lead drug candidate INO-3107 if approved, and for general corporate purposes. INO-3107 is a potential treatment for recurrent respiratory papillomatosis, a benign tumor disease.

In August, Inovio filed a prospectus supplement for the potential sale of up to $60 million of stock from time to time. On April 15, it announced the pricing of a roughly $36 million offering.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

December 12, 2024 18:49 ET (23:49 GMT)

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