Inovio Pharmaceuticals Inc (INO)

[quito_yume]

Regarding dilution, the company has been pretty clear on it. They are going to add approximately 35 million shares to the float depending on the amount they can get per share right now for the at the market selling of new shares they are doing right now. The at the market selling will raise $150 million regardless of how many shares it takes to do it. That's why this thing can't spike even higher than it has. Everything above the $7 per share range they mentioned in the SEC filing is like free money to them, as they will price the next offering on around that $7 per share. THey will raise about $250 million on that offering. Of course, this all means, they won't be receiving any barda money as the CEO clearly stated they have other investors lined up, which includes you and me continuing to pay a premium for their stock as well as selling 10s of millions of shares cheap to hedge funds. If you ask me, he appeared to be very smug when Cramer asked him about hanging with the big boys. There will be no buyouts and probably no more grants as they are just selling shares to to point of approximately 35% dilution. The stock is only worth what they will sell it to hedge funds for which is about $7.