Inovio Pharmaceuticals Inc (INO)

[ppnlf]

While I clearly agree that cash is king, INO didn't need it at this stage. Depressing the PPS in order to boost cash reserves was surely unnecessary.

Will the provider of these funds (Capital Ventures/Heights Cap Mgt/Susquehanna) be long-term holders or opportunists selling once the PPS has recovered to $10? I hope the latter. If so then surely the subscription agreement could have locked in a holding period in return for what was at that time a 20% discount.

All that this type of exercise achieves is to make long-term investors have doubts as to why we backed Dr Kim.

Which I agree is a pity as he is doing great things. It's just sad that INO becomes a trader's playground.