Inovio Announces Proposed Public Offering of Common Stock
July 18 2017 - 4:01PM
Inovio Pharmaceuticals, Inc. (NASDAQ:INO) today announced that it
intends to offer and sell $75.0 million of shares of its common
stock in an underwritten public offering. Inovio expects to
grant the underwriters an option to purchase up to an additional
$11.25 million of shares of its common stock on the same terms and
conditions. All of the shares are being offered by Inovio.
The offering is subject to market conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
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.
The shares of common stock described above are being offered by
Inovio pursuant to a shelf registration statement filed by Inovio
with the Securities and Exchange Commission (SEC) that was declared
effective on June 5, 2015. A preliminary prospectus
supplement and accompanying prospectus relating to the offering
will be filed with the SEC and will be available on the SEC's
website located at http://www.sec.gov. Copies of the
preliminary prospectus supplement and the accompanying prospectus
relating to the offering, when available, may be obtained from
Citigroup Global Markets Inc., c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at
(800) 831-9146; or from Piper Jaffray & Co., Attention:
Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN
55402, or by telephone at (800) 747-3924, or by email at
prospectus@pjc.com.
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. For more information,
visit www.inovio.com.
This press release contains certain forward-looking statements
relating to Inovio’s business that involve a number of risks and
uncertainties, including statements about its expectations with
respect to the proposed public offering. These statements may
be identified by introductory words such as “may,” “expects,”
“plan,” “believe,” “will,” “achieve,” “anticipate,” “would,”
“should,” “subject to” or words of similar meaning, or by the fact
that they do not relate strictly to historical or current
facts. For such statements, Inovio claims the protection of
the Private Securities Litigation Reform Act of 1995. Actual
events or results may differ from the expectations set forth herein
as a result of a number of factors, including, but limited to,
risks and uncertainties associated with market conditions and the
satisfaction of customary closing conditions related to the
proposed public offering, and other factors discussed in the “Risk
Factors” section of Inovio’s Annual Report on Form 10-K for the
year ended December 31, 2016, filed with the SEC on March 15, 2017,
Inovio’s Form 10-Q for the quarter ended March 31, 2017, filed with
the SEC on May 10, 2017, and other filings that Inovio makes with
the SEC from time to time. There can be no assurance that any of
the forward-looking information provided herein will be proven
accurate.
In addition, the forward-looking statements included in this
press release represent Inovio’s views as of the date hereof.
Inovio anticipates that subsequent events and developments may
cause its views to change. However, while Inovio may elect to
update these forward-looking statements at some point in the
future, the company specifically disclaims any obligation to do so,
except as may be required by law. These forward-looking statements
should not be relied upon as representing Inovio’s views as of any
date subsequent to the date of this release.
CONTACTS:
Investors & Media:
Jeffrey C. Richardson, Inovio Pharmaceuticals, 267-440-4211, jrichardson@inovio.com
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