Inovio to net $14M in share sale

Posted: March 08, 2013

Synthetic vaccine developer Inovio Pharmaceuticals Inc., of Blue Bell, said it priced an offering of 27.4 million common shares and warrants for an additional 13.7 million shares that, combined, will net the company $14 million.

Inovio said it will use the proceeds for general corporate purposes.

The shares and warrants carried a combined price to the public of 55 cents per share, Inovio said. Shares on the New York Stock Exchange were down 25 percent, to 52 cents in afternoon trading.

They have traded in a 52-week range of 38 cents to 83 cents.

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