Inovio continues sharply lower after secondary offering

Inovio Pharma (INO -9%) priced its 18.97M share secondary at $2.90 each for gross proceeds of about $55M. The underwriter greenshoe option is for another 2.8M shares.

The stock's been in a range of $3.20-$3.48 on the session, and is currently at $3.39.

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Comments (10)
  • barcaboyvn
    , contributor
    Comments (276) | Send Message
    455M for 19M shares, that's 29USD/share, I'll take that!
    27 Feb 2014, 12:58 PM Reply Like
  • VisionMoney
    , contributor
    Comments (65) | Send Message
    With $55million raise this time, $INO has about $100 million reserve money. It puts them in quite solid cash position & shows INO is a serious biotech.


    And, $INO isn’t necessarily utilizing “all” of its shelvings right now. INO can offer shelvings incrementally as the share price increases over time.


    Next one maybe after the positive phase 2 read-out in mid-2014. Hopefully, between $5 - $10.
    27 Feb 2014, 03:18 PM Reply Like
  • mexec1
    , contributor
    Comments (83) | Send Message
    buy buy buy! Just added again to my position. This company is going to have a stellar year.
    27 Feb 2014, 01:13 PM Reply Like
  • nautor42
    , contributor
    Comments (194) | Send Message
    In Dr. Kim, I trust. Does everyone think the secondary is priced in at around $3.40? It seems to be finding support at that level.
    27 Feb 2014, 01:31 PM Reply Like
  • TGP59
    , contributor
    Comments (71) | Send Message
    Agreed, I've been watching closely all day...$3.40 was a support number I heard before the market opened today, and I like it even more right now. Long INO, bought more today.
    27 Feb 2014, 02:45 PM Reply Like
  • lspiteri
    , contributor
    Comments (5) | Send Message
    I thought it would go down more since the offering was priced at $2.90
    27 Feb 2014, 09:03 PM Reply Like
  • lspiteri
    , contributor
    Comments (5) | Send Message
    It came out at $2.90. I thought it would go down more
    27 Feb 2014, 09:03 PM Reply Like
  • donsker
    , contributor
    Comments (6) | Send Message
    This represents a great buying opportunity. Shorts due to come out soon but will only get burned given the price share's strength.
    27 Feb 2014, 09:25 PM Reply Like
  • iberia
    , contributor
    Comments (44) | Send Message
    the vaccine against dilution remains to be discovered
    28 Feb 2014, 04:39 AM Reply Like
  • User 15176622
    , contributor
    Comment (1) | Send Message
    hi, im new to this, where/how do you buy the shares for $2.90? Through a normal broker?
    28 Feb 2014, 04:40 AM Reply Like
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