Inovio Pharmaceuticals Inc (INO)

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6:03AM Inovio Pharma announces $24.3 mln Registered Offering (INO) 1.30 : Co announces it has agreed to sell to a single institutional investor 21,130,400 shares of its common stock and warrants to purchase up to 10,565,200 additional shares of its common stock. The shares of common stock and warrants are being offered in units consisting of one share of common stock and 0.5 of a warrant to purchase one share of common stock at a price of $1.15 per unit. The warrants have a term of five years and an exercise price of $1.40 per share. The gross proceeds of the offering are expected to be $24.3 mln and net proceeds, after deducting the placement agent's fee and estimated offering expenses payable by co, are expected to be ~$23.0 mln.