Inovio Pharmaceuticals Announces 1-4 Reverse Split for INO Stock

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

Inovio Pharmaceuticals Announces 1-4 Reverse Split for INO Stock

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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Endnotes:
  1. INO: http://studio-5.financialcontent.com/investplace/quote?Symbol=INO
  2. had approved 1-for-4 reverse stock split: http://ir.inovio.com/news/news-releases/news-releases-details/2014/Inovio-Pharmaceuticals-Announces-1-For-4-Reverse-Split/default.aspx
  3. [Image]: http://investorplace.com/wp-content/uploads/2013/09/inovio-185.jpg
  4. MRK: Merck Sells Consumer Business to Double Down on Blockbusters: http://investorplace.com/2014/05/mrk-merck-sells-consumer-unit-14b-double-blockbusters/
  5. Is AstraZeneca a Buy After Pfizer Breakup? 3 Pros, 3 Cons: http://investorplace.com/2014/05/azn-stock-astrazeneca-pfizer/
  6. Hottest Healthcare Stocks Now – CAH PDLI SHPG FRX: http://investorplace.com/2014/05/hottest-healthcare-stocks-now-cah-pdli-shpg-frx-cah-pdli-shpg/

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