Inovio Pharmaceuticals Announces 1-4 Reverse Split for INO Stock

by Christopher Freeburn | May 23, 2014 11:15 am

On Friday, Inovio Pharmaceuticals (INO[1]) announced that its shareholders had approved 1-for-4 reverse stock split[2] of Inovio common stock. INO shares sank more than 5% in morning trading.

inovio 185 Inovio Pharmaceuticals Announces 1 4 Reverse Split for INO Stock[3]Inovio said that the effective date of the reverse stock split would be disclosed at a future date after Inovio complies with “standard NYSE administrative processes.”

In a statement, Inovio President and CEO Dr. J. Joseph Kim said: “Our stockholders approved a reverse split to have our price and share structure reflect our leadership position in immunotherapies and expand our potential investor audience.”

Inovio is developing vaccines against HPV-caused pre-cancers and cancers, prostate, breast, and lung cancers, and HIV, influenza, malaria and hepatitis.

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