Inovio Pharma Prices Public Offering Of 17.70 Mln Shares At $8.50/shr - Quick Facts

(RTTNews) - Inovio Pharmaceuticals Inc. (INO) said that it has priced an underwritten public offering of 17.70 million shares of its common stock at a public offering price of $8.50 per share.

In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 2.66 million shares of common stock at the public offering price, less underwriting discounts and commissions.

The company expects gross proceeds from the offering to be about $150.5 million, before deducting underwriting discounts and commissions and estimated offering expenses, but excluding any exercise of the underwriters' option.

The company plans to to use the net proceeds from the offering for the development of its clinical pipeline, including clinical development expenses relating to INO-4800 and research and development expenses, and for general corporate purposes, including working capital and general and administrative expenses.