Inovio Shares Plunge After Company Prices Dilutive Offering
Inovio Pharmaceuticals' stock fell sharply after the company announced an underwritten public offering of 12,500,000 shares and accompanying warrants priced at $1.40 per share. The structure includes Series A and Series B warrants, an underwriter option for additional shares, and expected gross proceeds of about $17.5 million before fees.