Inovio Pharma dives on equity offering plans

Inovio Pharmaceuticals' INO.O shares down 22% to $1.67 in extended trading as it seeks equity raise

Co, which focuses on treating HPV-related diseases, cancer, and infectious diseases, announces proposed stock and warrants offering; deal size not disclosed

It intends to use net proceeds primarily for development of clinical pipeline, preparing for a potential commercial launch of INO-3107, if approved, and for general purposes, per the prospectus

Piper Sandler sole bookrunner for offering

Plymouth Meeting, Pennsylvania-based firm has ~36.7 mln shares outstanding for nearly $80 mln market cap

INO shares on Weds ended up 4.9% at $2.14, up 17% YTD