Inovio Pharmaceuticals, Inc. (NASDAQ: INO) announced today the sale of additional 6.50% convertible senior notes due 2024, bringing the total amount of notes sold to $78.5 million in aggregate principal amount. The additional notes, which were issued on March 1, 2019 pursuant to a partial exercise of the initial purchasers' option to purchase additional notes, are in addition to Inovio's previously announced offering of $65.0 million aggregate principal amount of notes that closed on February 19, 2019 and another $5.0 million of notes issued on that date upon the initial partial exercise of the initial purchasers' option. The additional notes were sold on the same terms in all respects as the notes previously issued on February 19, 2019, and the terms of the additional notes are identical to those previously issued. The aggregate amount of the initial purchasers' option exercises represent an approximately 21% increase from the base offering amount of $65.0 million. Inovio anticipates that the aggregate net proceeds from the offering will increase to $75.8 million.
Piper Jaffray & Co. and Cantor Fitzgerald & Co. acted as joint book-running managers for the offering. H.C. Wainwright & Co., Maxim Group, LLC, and National Securities Corporation acted as co-managers for the offering.
About Inovio Pharmaceuticals, Inc.
Inovio is a late-stage biotechnology company focused on the discovery, development, and commercialization of DNA immunotherapies that transform the treatment of cancer and infectious diseases. Inovio's proprietary platform technology applies next-generation antigen sequencing and DNA delivery to activate potent immune responses to targeted diseases. The technology functions exclusively in vivo, and has been demonstrated to consistently activate robust and fully functional T cell and antibody responses against targeted cancers and pathogens. Inovio has reported generating T cells whose killing capacity correlates with relevant clinical outcomes. Inovio's most advanced clinical program, VGX-3100, is in Phase 3 for the treatment of HPV-related cervical pre-cancer. Also in development are Phase 2 immuno-oncology programs targeting head and neck cancer, bladder cancer, and glioblastoma, as well as platform development programs in hepatitis B, Zika, Ebola, MERS, and HIV. Partners and collaborators include MedImmune, Regeneron, Roche/Genentech, ApolloBio Corporation, The Wistar Institute, The Bill & Melinda Gates Foundation, the University of Pennsylvania, Parker Institute for Cancer Immunotherapy, CEPI, DARPA, GeneOne Life Science, Plumbline Life Sciences, Drexel University, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program, and Laval University.
