Inovio Pharmaceuticals Inc (INO)

[Ripantuck]

What happened to cause this SP decline?

It seems to me to be pretty simple. In their Nov. 7 presentation they indicated that they had $31 Million in cash, enough to fund their operations through mid-2013.

Then, 3 weeks later they announce a financing of $3.5 Million in the middle of a down market! No wonder people started running for the exits.

I have no idea what the story is here. It could be as simple as a way for them to get more institutions on board as shareholders. Institutions may have been wary of buying stock on the market because they may have been concerned about driving the stock price too high before they were able to fill their positions.

However, to state in November that they have plenty of money to last them through mid-2013 and then immediately turn around and do a new stock issuance is definitely a contradiction between what they say and what they do. The market reaction may pass, but I certainly would like an official explanation of this apparent contradiction.