Inovio Prices 58,747,235 Shares at $1.05 to Fund Launch of New Drug
Key Facts
Inovio Pharmaceuticals priced an underwritten public offering of 58,747,235 common shares at $1.05 per share, alongside pre-funded warrants to purchase 12,681,337 shares at $1.049 per warrant, according to a news summary published by PR Newswire on November 5, 2026. The deal comes as the company prepares to launch Voceryq commercially after receiving approval from the U.S. Food and Drug Administration. In its filing with the Securities and Exchange Commission, the company said it intends to use net proceeds primarily to fund the drug’s commercial launch, advance its clinical pipeline and for general corporate purposes. The financing gives the company resources to support the marketing phase, while the share offering expands the number of securities available to investors. The stock closed at $1.45 on November 5, after closing at $1.62 in the previous session, according to EL7 data.
Voceryq is intended to reduce the frequency of surgical excision of papillomas in adults with recurrent respiratory papillomatosis, according to the FDA. The company says it expects the drug to be available for ordering and shipping within about 60 days of its October 30 announcement, with a full commercial launch in the first quarter of 2027. The pricing comes as Inovio moves from regulatory approval to preparing the treatment for availability, a phase the company said a substantial portion of the offering’s net proceeds would fund. All 32 participants completed the drug’s trial, the company said. Common adverse reactions included injection-site reactions, headache, fatigue, elevated blood pressure, nausea and dizziness.
Data in the FDA-approved prescribing information show that the efficacy assessment included 26 patients who had required 3 or more surgical excisions of papillomas during the 12 months before treatment. Their median number of excisions was 4.5, within a range of 3 to 8 procedures over that period. After 12 months of follow-up, 7 of these patients did not require surgical excision, representing 27% of the efficacy assessment group. The agency estimated a 95% confidence interval for this result of 12% to 48%. It defined a complete response as no need for surgical excision of papillomas during the follow-up period.
Accelerated approval remains tied to follow-up clinical evidence; the FDA says continued approval for this use may depend on verification of clinical benefit and its description in a confirmatory study or studies. Inovio said the agency requested submission of a draft confirmatory study protocol by the end of 2026. The company expects to agree on a final protocol by mid-2027. This places execution of the study among the regulatory requirements accompanying the approval, alongside beginning to make the drug available and its plan for a full commercial launch in the first quarter of 2027. The company also intends to direct offering proceeds toward advancing its clinical pipeline, according to its SEC filing.
The offering follows financing Inovio announced in July 2026 at a combined price of $0.95 per common share and accompanying warrant, which allows the purchase of two shares. The company said at the time it expected gross proceeds of about $20.0 million before underwriting commissions and offering expenses, excluding the underwriter’s exercise of an option to purchase additional securities and exercise of the accompanying warrants. In the current offering, the common share is priced at $1.05 and the pre-funded warrant at $1.049, according to the news summary. The company’s upcoming dates include announcing third-quarter 2026 results after the market closes on November 10. Inovio will hold a call and webcast after the announcement at 4:30 p.m. Eastern time, the company said.