PLYMOUTH MEETING, Pa., July 19, 2017 (GLOBE NEWSWIRE) -- Inovio Pharmaceuticals, Inc. (NASDAQ:INO) today announced the pricing of an underwritten public offering of 12,500,000 shares of its common stock, offered at a price to the public of $6.00 per share. The gross proceeds to Inovio from the offering are expected to be $75.0 million, before deducting the underwriting discounts and commissions and offering expenses payable by Inovio. All of the shares are being offered by Inovio. The offering is expected to close on July 25, 2017, subject to customary closing conditions. In addition, Inovio has granted the underwriters a 30?day option to purchase up to 1,875,000 additional shares of its common stock on the same terms and conditions.
Inovio anticipates using the net proceeds from this offering for general corporate purposes, including clinical trial expenses, research and development expenses, general and administrative expenses, manufacturing expenses and other business development activities.
Citigroup, Piper Jaffray & Co. and RBC Capital Markets are acting as joint book-running managers for the offering. H.C. Wainwright & Co., Maxim Group LLC, Aegis Capital Corp. and National Securities Corporation, are acting as co-managers for the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Inovio Pharmaceuticals, Inc.
Inovio is taking immunotherapy to the next level in the fight against cancer and infectious diseases. We are the only immunotherapy company that has reported generating T cells in vivo in high quantity that are fully functional and whose killing capacity correlates with relevant clinical outcomes with a favorable safety profile. With an expanding portfolio of immune therapies, the company is advancing a growing preclinical and clinical stage product pipeline. Partners and collaborators include MedImmune, Regeneron, Genentech, The Wistar Institute, University of Pennsylvania, DARPA, GeneOne Life Science, Plumbline Life Sciences, ApolloBio Corporation, Drexel University, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program and Laval University.
