Inovio Pharma Secures $150.5M Capital Raise

1/21/21

By Mamta Mayani, SeekingAlpha

Inovio Pharmaceuticals (NASDAQ:INO) has priced its public offering of 17.7M common shares at $8.50/share, for expected gross proceeds of ~$150.5M.

Underwriters' over-allotment is an additional ~2.7M shares.

Net proceeds will be used for the development of its clinical pipeline, for general corporate purposes, including working capital.

Closing date is January 25.

Shares down 6% after-hours.

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