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INOVIO (NASDAQ:INO), a biotechnology company developing DNA medicines for HPV-related diseases, cancer, and infectious diseases, announced an equity grant under its 2022 Inducement Plan. The grant, approved by INOVIO's Compensation Committee, involves options to purchase 1,666 shares at $10.13 per share, the closing price on May 31, 2024. The options vest over three years, contingent on continued employment.
INOVIO (NASDAQ: INO) reported its Q1 2024 financial results and recent business highlights. The company is on track to submit a BLA for INO-3107 in the second half of 2024, aiming to become the first non-surgical treatment for recurrent respiratory papillomatosis (RRP). A confirmatory trial for INO-3107 is planned, with FDA feedback incorporated. INOVIO also plans a Phase 3 trial of INO-3112 in combination with LOQTORZI for treating HPV-16/18 positive oropharyngeal squamous cell carcinoma (OPSCC).
Financially, INOVIO's cash, equivalents, and short-term investments stood at $105.6 million as of March 31, 2024, down from $145.3 million in December 2023. The company completed a $33.2 million stock and pre-funded warrants offering in April 2024, extending its cash runway to Q3 2025. Q1 R&D expenses decreased from $30.2 million in 2023 to $20.9 million, while G&A expenses dropped from $13.9 million to $10.6 million. The net loss improved to $30.5 million ($1.31 per share) from $40.6 million ($1.89 per share) in Q1 2023, following a reverse stock split in January 2024.
INOVIO, a biotechnology company, granted equity awards to two new employees under its 2022 Inducement Plan. The awards include restricted stock units and stock options, with vesting over a three-year period. The grants aim to incentivize and retain talent as part of the company's strategic growth.
INOVIO, a biotechnology company, will release their first quarter 2024 financial results on May 13, 2024. The company focuses on developing DNA medicines for HPV-associated diseases, cancer, and infectious diseases. A live conference call and webcast will follow the release to discuss financial results and give a general business update.
INOVIO, a biotechnology company specializing in DNA medicines for HPV-related diseases, cancer, and infectious diseases, will participate in various investor conferences in May. Dr. Jacqueline Shea, President & CEO, will represent the company in fireside chats at The Citizens JMP Life Sciences Conference, RBC Capital Markets 2024 Global Healthcare Conference, and H.C. Wainwright 2nd Annual BioConnect Investor Conference. The company aims to engage with investors through one-on-one meetings and webcasts available on their Investor Relations Events page.
