INOVIO Pharmaceuticals Inc (Nasdaq:INO), a US-based biotechnology company involved in developing and commercialising DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases, announced on Thursday the pricing of a USD25m underwritten public offering.
The offering includes 14,285,715 shares of INOVIO's common stock and accompanying Series A warrants to purchase up to 14,285,715 shares of its common stock (or pre-funded warrants in lieu thereof) at an exercise price of USD1.75 per share of common stock and Series B warrants to purchase up to 14,285,715 shares of its common stock (or pre-funded warrants in lieu thereof) at an exercise price of USD1.75 per share of common stock, at a combined public offering price of USD1.75 per share of common stock and accompanying Series A and Series B warrants. All of the securities in the offering are being sold by INOVIO.
The offering is expected to close on or about 7 July 2025, subject to the satisfaction of customary closing conditions.
INOVIO has also granted the underwriters an option for a period of 30 days to purchase up to 2,142,857 additional shares of the company's common stock and Series A warrants to purchase up to 2,142,857 additional shares of its common stock and Series B warrants to purchase up to 2,142,857 additional shares of its common stock at the public offering price, less underwriting discounts and commissions.
Gross proceeds from the offering, before deducting the underwriting discounts and commissions and offering expenses payable by INOVIO, excluding any exercise of the underwriters' option to purchase additional securities and assuming no exercise of the accompanying Series A and Series B warrants, are expected to be approximately USD25m.
Piper Sandler & Co is acting as sole active book-running manager for the offering. Oppenheimer & Co Inc is acting as a passive bookrunner for the offering.
Roche expands cyclospora testing portfolio to support US public health response
Decoy Therapeutics expands antiviral platform into Ebola and filovirus research
Aptamer Group launches Optimer-based Ebola diagnostic programme
Physiomics secures new contracts worth over GBP200,000
EDX Medical to provide molecular profiling services to Astron Health
Sanofi appoints new global head of Research & Development Pharma
Lakewood-Amedex expands intellectual property portfolio with Australian Bisphosphocin patent
Replicate Bioscience awarded Gates Foundation grant to advance srRNA vaccine candidates for TB
Gilead Sciences mobilises remdesivir donation to support Ebola response in Uganda
RedHill Biopharma advancing opaganib options for Ebola outbreak
Transgene to present preclinical TG-MVA mpox vaccine data at World Congress on Infectious Diseases