[Form 4] Clorox Company Insider Trading Activity

Q: What is Inovio Pharmaceuticals (INO) selling in this 424B5 offering?

<b>INO</b> is offering shares of common stock—or pre-funded warrants in lieu of shares—bundled with Series A and Series B common-stock warrants. All securities are immediately separable but must be purchased together.

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Inovio Pharmaceuticals, Inc. (Nasdaq: INO) has filed a preliminary prospectus supplement under its effective shelf to raise capital through a combined offering of: (i) shares of common stock or pre-funded warrants (exercise price $0.001) in lieu of common stock, (ii) Series A warrants, and (iii) Series B warrants. Every share (or pre-funded warrant) will be sold together with one Series A warrant and one Series B warrant, although the securities are immediately separable upon issuance.

Pricing & size: Key economics—number of securities, combined public price, underwriting discount, and gross/net proceeds—remain blank pending final marketing, but the filing authorizes a 30-day overallotment option for additional shares and warrants.
Warrant profile: • Series A warrants are exercisable immediately, expire on the earlier of (a) 30 days after FDA accepts a Biologics License Application (BLA) for INO-3107 or (b) 12 months after issuance; • Series B warrants are exercisable immediately and expire five years after issuance. Neither series will be listed, limiting liquidity.
Use of proceeds: Management plans to direct funds to (1) advancement of its DNA-medicine clinical pipeline—including a rolling BLA submission for lead asset INO-3107 in recurrent respiratory papillomatosis expected to begin mid-2025, (2) potential commercial launch preparation for INO-3107 if approved, and (3) general corporate purposes.
Dilution & risk: The company warns that investors will incur immediate dilution; further dilution could arise from outstanding equity awards (≈2.6 m shares), legacy warrants (≈10 m at $3.76) and future ATM sales ($57.9 m capacity). Inovio remains a clinical-stage biotech with no product revenue, significant accumulated deficits, and multiple R&D, regulatory, manufacturing and financing risks.
Corporate status: Inovio is a “smaller reporting company,” enabling reduced SEC disclosure. Piper Sandler is sole book-running manager.

Because amounts are placeholders, the filing primarily signals intent to strengthen the balance sheet ahead of key regulatory catalysts rather than conveying finalized financial impact.

Inovio Pharmaceuticals, Inc. (Nasdaq: INO) ha presentato un supplemento preliminare al prospetto nell'ambito del suo programma di offerta continua per raccogliere capitali tramite un'offerta combinata di: (i) azioni ordinarie o warrant pre-finanziati (prezzo di esercizio $0,001) in sostituzione delle azioni ordinarie, (ii) warrant Serie A e (iii) warrant Serie B. Ogni azione (o warrant pre-finanziato) sarà venduta insieme a un warrant Serie A e un warrant Serie B, anche se i titoli saranno immediatamente separabili al momento dell'emissione.

Prezzo e dimensione: Le condizioni economiche chiave — numero di titoli, prezzo pubblico combinato, sconto di sottoscrizione e proventi lordi/netti — sono ancora da definire in attesa del marketing finale, ma il deposito autorizza un'opzione di sovrallocazione di 30 giorni per azioni e warrant aggiuntivi.
Profilo dei warrant: • I warrant Serie A sono esercitabili immediatamente e scadono al primo verificarsi tra (a) 30 giorni dopo l'accettazione da parte della FDA della Biologics License Application (BLA) per INO-3107 o (b) 12 mesi dall'emissione; • i warrant Serie B sono esercitabili immediatamente e scadono cinque anni dopo l'emissione. Nessuna delle due serie sarà quotata, limitando la liquidità.
Utilizzo dei proventi: La direzione intende destinare i fondi a (1) avanzamento della pipeline clinica di medicina a base di DNA, inclusa la presentazione progressiva della BLA per il prodotto principale INO-3107 nella papillomatosi respiratoria ricorrente, prevista per metà 2025, (2) preparazione al possibile lancio commerciale di INO-3107 in caso di approvazione, e (3) scopi aziendali generali.
Diluizione e rischi: La società avverte che gli investitori subiranno una diluizione immediata; ulteriore diluizione potrebbe derivare da premi azionari in essere (circa 2,6 milioni di azioni), warrant legacy (circa 10 milioni a $3,76) e future vendite ATM (capacità di $57,9 milioni). Inovio rimane una biotech in fase clinica senza ricavi da prodotti, con deficit accumulati significativi e molteplici rischi legati a R&D, regolamentazione, produzione e finanziamento.
Stato aziendale: Inovio è una “smaller reporting company”, che consente una riduzione delle disclosure SEC. Piper Sandler è l'unico gestore del libro ordini.

Poiché gli importi sono indicativi, il deposito segnala principalmente l'intenzione di rafforzare il bilancio in vista di importanti catalizzatori regolatori, piuttosto che fornire un impatto finanziario definitivo.

Inovio Pharmaceuticals, Inc. (Nasdaq: INO) ha presentado un suplemento preliminar al prospecto bajo su programa de oferta continua para recaudar capital mediante una oferta combinada de: (i) acciones ordinarias o warrants prefinanciados (precio de ejercicio $0.001) en lugar de acciones ordinarias, (ii) warrants Serie A y (iii) warrants Serie B. Cada acción (o warrant prefinanciado) se venderá junto con un warrant Serie A y un warrant Serie B, aunque los valores son inmediatamente separables al momento de la emisión.

Precio y tamaño: Los aspectos económicos clave — número de valores, precio público combinado, descuento de suscripción y ingresos brutos/netos — permanecen en blanco a la espera del marketing final, pero la presentación autoriza una opción de sobresuscripción de 30 días para acciones y warrants adicionales.
Perfil de los warrants: • Los warrants Serie A son ejercitables inmediatamente y expiran en el primero de los siguientes eventos: (a) 30 días después de que la FDA acepte una solicitud de licencia biológica (BLA) para INO-3107 o (b) 12 meses después de la emisión; • Los warrants Serie B son ejercitables inmediatamente y expiran cinco años después de la emisión. Ninguna de las series estará listada, limitando la liquidez.
Uso de los ingresos: La gerencia planea destinar los fondos a (1) el avance de su pipeline clínico de medicina basada en ADN, incluida una presentación progresiva de la BLA para el activo principal INO-3107 en papilomatosis respiratoria recurrente, prevista para mediados de 2025, (2) la posible preparación para el lanzamiento comercial de INO-3107 si es aprobado, y (3) propósitos corporativos generales.
Dilución y riesgos: La compañía advierte que los inversores sufrirán una dilución inmediata; una mayor dilución podría surgir por premios de acciones pendientes (≈2,6 millones de acciones), warrants heredados (≈10 millones a $3.76) y futuras ventas ATM (capacidad de $57.9 millones). Inovio sigue siendo una biotecnológica en etapa clínica sin ingresos por productos, con déficits acumulados significativos y múltiples riesgos en I+D, regulación, fabricación y financiamiento.
Estado corporativo: Inovio es una “smaller reporting company”, lo que permite una reducción en la divulgación ante la SEC. Piper Sandler es el único administrador del libro de órdenes.

Dado que las cantidades son provisionales, la presentación principalmente indica la intención de fortalecer el balance antes de importantes catalizadores regulatorios, en lugar de proporcionar un impacto financiero finalizado.

Inovio Pharmaceuticals, Inc. (나스닥: INO)는 유효한 셸프 등록을 통해 다음을 결합한 공모를 통해 자본을 조달하기 위한 예비 증권신고서를 제출했습니다: (i) 보통주 또는 보통주 대신 행사 가격 $0.001의 선행 납입 워런트, (ii) 시리즈 A 워런트, (iii) 시리즈 B 워런트. 각 주식(또는 선행 납입 워런트)은 시리즈 A 워런트 하나와 시리즈 B 워런트 하나와 함께 판매되며, 발행 시 즉시 분리 가능합니다.

가격 및 규모: 주요 경제 조건 — 증권 수, 결합 공모 가격, 인수 수수료, 총수익/순수익 — 은 최종 마케팅 전까지 미정이며, 제출서류는 추가 주식 및 워런트에 대한 30일간의 초과 배정 옵션을 승인합니다.
워런트 프로필: • 시리즈 A 워런트는 즉시 행사 가능하며, (a) FDA가 INO-3107의 생물의약품 허가신청서(BLA)를 수락한 후 30일 또는 (b) 발행 후 12개월 중 빠른 시점에 만료됩니다; • 시리즈 B 워런트는 즉시 행사 가능하며 발행 후 5년 후 만료됩니다. 두 시리즈 모두 상장되지 않아 유동성이 제한됩니다.
자금 사용 계획: 경영진은 자금을 (1) DNA 의약품 임상 파이프라인 진전 — 재발성 호흡기 유두종증 치료제 INO-3107의 롤링 BLA 제출은 2025년 중반 시작 예정, (2) 승인 시 INO-3107의 잠재적 상업 출시 준비, (3) 일반 기업 목적에 사용할 계획입니다.
희석 및 위험: 회사는 투자자들이 즉각적인 희석을 경험할 것이라고 경고하며, 추가 희석은 미지급 주식 보상(약 260만 주), 기존 워런트(약 1000만 주, 행사 가격 $3.76), 미래 ATM 판매(용량 $5790만)에서 발생할 수 있습니다. Inovio는 제품 매출이 없는 임상 단계 바이오텍으로, 상당한 누적 적자와 다수의 연구개발, 규제, 제조 및 자금 조달 위험을 안고 있습니다.
기업 상태: Inovio는 SEC 공시가 간소화된 '소규모 보고 기업'이며, Piper Sandler가 단독 주관사입니다.

금액이 임시 수치이므로, 이번 제출은 주요 규제 촉매를 앞두고 재무 상태를 강화하려는 의도를 주로 나타내며, 최종 재무 영향을 전달하는 것은 아닙니다.

Inovio Pharmaceuticals, Inc. (Nasdaq : INO) a déposé un supplément préliminaire au prospectus dans le cadre de son programme d’offre continue afin de lever des fonds via une offre combinée de : (i) actions ordinaires ou bons de souscription préfinancés (prix d’exercice de 0,001 $) en lieu et place des actions ordinaires, (ii) bons de souscription Série A, et (iii) bons de souscription Série B. Chaque action (ou bon préfinancé) sera vendue avec un bon de souscription Série A et un bon de souscription Série B, bien que les titres soient immédiatement séparables à l’émission.

Tarification et taille : Les paramètres économiques clés — nombre de titres, prix public combiné, décote de souscription, produits bruts/nets — restent à définir en attente du marketing final, mais le dépôt autorise une option de surallocation de 30 jours pour des actions et bons supplémentaires.
Profil des bons de souscription : • Les bons Série A sont exerçables immédiatement et expirent au plus tôt entre (a) 30 jours après l’acceptation par la FDA d’une demande d’autorisation de mise sur le marché biologique (BLA) pour INO-3107, ou (b) 12 mois après émission ; • Les bons Série B sont exerçables immédiatement et expirent cinq ans après émission. Aucune des séries ne sera cotée, ce qui limite la liquidité.
Utilisation des fonds : La direction prévoit d’allouer les fonds à (1) l’avancement de sa pipeline clinique de médicaments à base d’ADN — incluant un dépôt progressif de la BLA pour l’actif principal INO-3107 dans la papillomatose respiratoire récurrente, attendu pour mi-2025, (2) la préparation d’un lancement commercial potentiel d’INO-3107 en cas d’approbation, et (3) des besoins généraux de l’entreprise.
Dilution et risques : La société avertit que les investisseurs subiront une dilution immédiate ; une dilution supplémentaire pourrait survenir en raison des attributions d’actions en cours (≈2,6 millions d’actions), des bons historiques (≈10 millions à 3,76 $) et des futures ventes ATM (capacité de 57,9 millions de dollars). Inovio reste une biotech en phase clinique sans revenus produits, avec des pertes accumulées importantes et de multiples risques liés à la R&D, la réglementation, la fabrication et le financement.
Statut de l’entreprise : Inovio est une « smaller reporting company », ce qui permet une réduction des obligations de divulgation auprès de la SEC. Piper Sandler est le seul chef de file.

Étant donné que les montants sont indicatifs, le dépôt signale principalement l’intention de renforcer le bilan avant des catalyseurs réglementaires clés plutôt que de fournir un impact financier définitif.

Inovio Pharmaceuticals, Inc. (Nasdaq: INO) hat einen vorläufigen Nachtrag zum wirksamen Börsenprospekt eingereicht, um Kapital durch ein kombiniertes Angebot zu beschaffen, das umfasst: (i) Stammaktien oder vorfinanzierte Optionsscheine (Ausübungspreis 0,001 $) anstelle von Stammaktien, (ii) Serie A Optionsscheine und (iii) Serie B Optionsscheine. Jede Aktie (oder vorfinanzierter Optionsschein) wird zusammen mit einem Serie A und einem Serie B Optionsschein verkauft, wobei die Wertpapiere bei Ausgabe sofort trennbar sind.

Preisgestaltung & Umfang: Wichtige wirtschaftliche Eckdaten – Anzahl der Wertpapiere, kombinierter öffentlicher Preis, Underwriter-Discount sowie Brutto-/Nettoerlöse – sind noch offen und hängen vom finalen Marketing ab. Die Einreichung autorisiert jedoch eine 30-tägige Mehrzuteilungsoption für zusätzliche Aktien und Optionsscheine.
Optionsscheinprofil: • Serie A Optionsscheine sind sofort ausübbar und verfallen entweder 30 Tage nach Annahme eines Biologics License Application (BLA) durch die FDA für INO-3107 oder 12 Monate nach Ausgabe, je nachdem, was früher eintritt; • Serie B Optionsscheine sind sofort ausübbar und verfallen fünf Jahre nach Ausgabe. Keine der Serien wird gelistet, was die Liquidität einschränkt.
Verwendung der Erlöse: Das Management plant, die Mittel für (1) den Fortschritt der klinischen DNA-Medikamenten-Pipeline – einschließlich einer rollierenden BLA-Einreichung für den Hauptwirkstoff INO-3107 bei rezidivierender respiratorischer Papillomatose, die Mitte 2025 beginnen soll, (2) mögliche Vorbereitung des kommerziellen Starts von INO-3107 im Falle einer Zulassung und (3) allgemeine Unternehmenszwecke zu verwenden.
Verwässerung & Risiko: Das Unternehmen warnt, dass Investoren sofortige Verwässerung erfahren werden; weitere Verwässerung könnte durch ausstehende Aktienprämien (≈2,6 Mio. Aktien), Alt-Optionsscheine (≈10 Mio. mit Ausübungspreis $3,76) und zukünftige ATM-Verkäufe (Kapazität $57,9 Mio.) entstehen. Inovio bleibt ein Biotech-Unternehmen in der klinischen Phase ohne Produktumsatz, mit erheblichen kumulierten Verlusten und vielfältigen Risiken in Forschung & Entwicklung, Regulierung, Herstellung und Finanzierung.
Unternehmensstatus: Inovio ist ein „smaller reporting company“, was reduzierte SEC-Offenlegung ermöglicht. Piper Sandler ist der alleinige Bookrunner.

Da die Beträge Platzhalter sind, signalisiert die Einreichung hauptsächlich die Absicht, die Bilanz vor wichtigen regulatorischen Ereignissen zu stärken, anstatt endgültige finanzielle Auswirkungen darzustellen.

Positive

Capital access: Offering should provide fresh cash to fund INO-3107 BLA submission, confirmatory trial and eventual commercial launch preparation.
Regulatory momentum: FDA has indicated completed data support an accelerated-approval BLA; manufacturing issue with CELLECTRA 5PSP has been resolved, enabling mid-2025 rolling submission timeline.
Pipeline breadth: Additional candidates (INO-3112, INO-5401) and multiple partnerships (e.g., Coherus, AstraZeneca) offer diversified optionality beyond INO-3107.

Negative

Dilution risk: New equity plus two layers of investor warrants will increase share count; exact magnitude TBD once pricing is finalized.
Liquidity limits: Warrants will not be exchange-listed, potentially reducing attractiveness and aftermarket price discovery.
No revenue base: Company remains pre-commercial with continued operating losses; success hinges on regulatory approvals and further financing.
Unspecified terms: Blank placeholders for size, price and proceeds create valuation uncertainty for existing and prospective shareholders.

Insights

TL;DR Capital raise readies Inovio for INO-3107 BLA costs but adds dilution; warrant structure tightens near-term cash while preserving future optionality.

Funding rationale: Inovio’s cash burn will accelerate as it scales manufacturing, device validation and a confirmatory Phase 3 trial for INO-3107. The offering—despite undisclosed size—should extend runway beyond the anticipated FDA file-acceptance target (YE-2025) and reduce financing overhang.
Structural observations: Coupling shares/pre-funded warrants with two warrant tranches provides investors leverage but caps near-term dilution (Series A’s short life) while offering longer-dated upside (Series B). The unusual trigger for Series A expiry—30 days post-BLA acceptance—aligns investor incentives with a key catalyst.
Valuation impact: Lack of concrete pricing keeps the raise’s EPS effect indeterminate; however, even a mid-single-digit million share issuance would be material given only ~36.7 m shares outstanding. Non-listing of warrants could dampen demand from certain funds.
Risk skew: Still no approved products; any device or clinical setback could stall the BLA, nullifying Series A warrant value and pressuring the stock. Overall, transaction impact leans neutral until final terms emerge.

Prezzo e dimensione: Le condizioni economiche chiave — numero di titoli, prezzo pubblico combinato, sconto di sottoscrizione e proventi lordi/netti — sono ancora da definire in attesa del marketing finale, ma il deposito autorizza un'opzione di sovrallocazione di 30 giorni per azioni e warrant aggiuntivi.
Profilo dei warrant: • I warrant Serie A sono esercitabili immediatamente e scadono al primo verificarsi tra (a) 30 giorni dopo l'accettazione da parte della FDA della Biologics License Application (BLA) per INO-3107 o (b) 12 mesi dall'emissione; • i warrant Serie B sono esercitabili immediatamente e scadono cinque anni dopo l'emissione. Nessuna delle due serie sarà quotata, limitando la liquidità.
Utilizzo dei proventi: La direzione intende destinare i fondi a (1) avanzamento della pipeline clinica di medicina a base di DNA, inclusa la presentazione progressiva della BLA per il prodotto principale INO-3107 nella papillomatosi respiratoria ricorrente, prevista per metà 2025, (2) preparazione al possibile lancio commerciale di INO-3107 in caso di approvazione, e (3) scopi aziendali generali.
Diluizione e rischi: La società avverte che gli investitori subiranno una diluizione immediata; ulteriore diluizione potrebbe derivare da premi azionari in essere (circa 2,6 milioni di azioni), warrant legacy (circa 10 milioni a $3,76) e future vendite ATM (capacità di $57,9 milioni). Inovio rimane una biotech in fase clinica senza ricavi da prodotti, con deficit accumulati significativi e molteplici rischi legati a R&D, regolamentazione, produzione e finanziamento.
Stato aziendale: Inovio è una “smaller reporting company”, che consente una riduzione delle disclosure SEC. Piper Sandler è l'unico gestore del libro ordini.

Precio y tamaño: Los aspectos económicos clave — número de valores, precio público combinado, descuento de suscripción y ingresos brutos/netos — permanecen en blanco a la espera del marketing final, pero la presentación autoriza una opción de sobresuscripción de 30 días para acciones y warrants adicionales.
Perfil de los warrants: • Los warrants Serie A son ejercitables inmediatamente y expiran en el primero de los siguientes eventos: (a) 30 días después de que la FDA acepte una solicitud de licencia biológica (BLA) para INO-3107 o (b) 12 meses después de la emisión; • Los warrants Serie B son ejercitables inmediatamente y expiran cinco años después de la emisión. Ninguna de las series estará listada, limitando la liquidez.
Uso de los ingresos: La gerencia planea destinar los fondos a (1) el avance de su pipeline clínico de medicina basada en ADN, incluida una presentación progresiva de la BLA para el activo principal INO-3107 en papilomatosis respiratoria recurrente, prevista para mediados de 2025, (2) la posible preparación para el lanzamiento comercial de INO-3107 si es aprobado, y (3) propósitos corporativos generales.
Dilución y riesgos: La compañía advierte que los inversores sufrirán una dilución inmediata; una mayor dilución podría surgir por premios de acciones pendientes (≈2,6 millones de acciones), warrants heredados (≈10 millones a $3.76) y futuras ventas ATM (capacidad de $57.9 millones). Inovio sigue siendo una biotecnológica en etapa clínica sin ingresos por productos, con déficits acumulados significativos y múltiples riesgos en I+D, regulación, fabricación y financiamiento.
Estado corporativo: Inovio es una “smaller reporting company”, lo que permite una reducción en la divulgación ante la SEC. Piper Sandler es el único administrador del libro de órdenes.

가격 및 규모: 주요 경제 조건 — 증권 수, 결합 공모 가격, 인수 수수료, 총수익/순수익 — 은 최종 마케팅 전까지 미정이며, 제출서류는 추가 주식 및 워런트에 대한 30일간의 초과 배정 옵션을 승인합니다.
워런트 프로필: • 시리즈 A 워런트는 즉시 행사 가능하며, (a) FDA가 INO-3107의 생물의약품 허가신청서(BLA)를 수락한 후 30일 또는 (b) 발행 후 12개월 중 빠른 시점에 만료됩니다; • 시리즈 B 워런트는 즉시 행사 가능하며 발행 후 5년 후 만료됩니다. 두 시리즈 모두 상장되지 않아 유동성이 제한됩니다.
자금 사용 계획: 경영진은 자금을 (1) DNA 의약품 임상 파이프라인 진전 — 재발성 호흡기 유두종증 치료제 INO-3107의 롤링 BLA 제출은 2025년 중반 시작 예정, (2) 승인 시 INO-3107의 잠재적 상업 출시 준비, (3) 일반 기업 목적에 사용할 계획입니다.
희석 및 위험: 회사는 투자자들이 즉각적인 희석을 경험할 것이라고 경고하며, 추가 희석은 미지급 주식 보상(약 260만 주), 기존 워런트(약 1000만 주, 행사 가격 $3.76), 미래 ATM 판매(용량 $5790만)에서 발생할 수 있습니다. Inovio는 제품 매출이 없는 임상 단계 바이오텍으로, 상당한 누적 적자와 다수의 연구개발, 규제, 제조 및 자금 조달 위험을 안고 있습니다.
기업 상태: Inovio는 SEC 공시가 간소화된 '소규모 보고 기업'이며, Piper Sandler가 단독 주관사입니다.

Tarification et taille : Les paramètres économiques clés — nombre de titres, prix public combiné, décote de souscription, produits bruts/nets — restent à définir en attente du marketing final, mais le dépôt autorise une option de surallocation de 30 jours pour des actions et bons supplémentaires.
Profil des bons de souscription : • Les bons Série A sont exerçables immédiatement et expirent au plus tôt entre (a) 30 jours après l’acceptation par la FDA d’une demande d’autorisation de mise sur le marché biologique (BLA) pour INO-3107, ou (b) 12 mois après émission ; • Les bons Série B sont exerçables immédiatement et expirent cinq ans après émission. Aucune des séries ne sera cotée, ce qui limite la liquidité.
Utilisation des fonds : La direction prévoit d’allouer les fonds à (1) l’avancement de sa pipeline clinique de médicaments à base d’ADN — incluant un dépôt progressif de la BLA pour l’actif principal INO-3107 dans la papillomatose respiratoire récurrente, attendu pour mi-2025, (2) la préparation d’un lancement commercial potentiel d’INO-3107 en cas d’approbation, et (3) des besoins généraux de l’entreprise.
Dilution et risques : La société avertit que les investisseurs subiront une dilution immédiate ; une dilution supplémentaire pourrait survenir en raison des attributions d’actions en cours (≈2,6 millions d’actions), des bons historiques (≈10 millions à 3,76 $) et des futures ventes ATM (capacité de 57,9 millions de dollars). Inovio reste une biotech en phase clinique sans revenus produits, avec des pertes accumulées importantes et de multiples risques liés à la R&D, la réglementation, la fabrication et le financement.
Statut de l’entreprise : Inovio est une « smaller reporting company », ce qui permet une réduction des obligations de divulgation auprès de la SEC. Piper Sandler est le seul chef de file.

Preisgestaltung & Umfang: Wichtige wirtschaftliche Eckdaten – Anzahl der Wertpapiere, kombinierter öffentlicher Preis, Underwriter-Discount sowie Brutto-/Nettoerlöse – sind noch offen und hängen vom finalen Marketing ab. Die Einreichung autorisiert jedoch eine 30-tägige Mehrzuteilungsoption für zusätzliche Aktien und Optionsscheine.
Optionsscheinprofil: • Serie A Optionsscheine sind sofort ausübbar und verfallen entweder 30 Tage nach Annahme eines Biologics License Application (BLA) durch die FDA für INO-3107 oder 12 Monate nach Ausgabe, je nachdem, was früher eintritt; • Serie B Optionsscheine sind sofort ausübbar und verfallen fünf Jahre nach Ausgabe. Keine der Serien wird gelistet, was die Liquidität einschränkt.
Verwendung der Erlöse: Das Management plant, die Mittel für (1) den Fortschritt der klinischen DNA-Medikamenten-Pipeline – einschließlich einer rollierenden BLA-Einreichung für den Hauptwirkstoff INO-3107 bei rezidivierender respiratorischer Papillomatose, die Mitte 2025 beginnen soll, (2) mögliche Vorbereitung des kommerziellen Starts von INO-3107 im Falle einer Zulassung und (3) allgemeine Unternehmenszwecke zu verwenden.
Verwässerung & Risiko: Das Unternehmen warnt, dass Investoren sofortige Verwässerung erfahren werden; weitere Verwässerung könnte durch ausstehende Aktienprämien (≈2,6 Mio. Aktien), Alt-Optionsscheine (≈10 Mio. mit Ausübungspreis $3,76) und zukünftige ATM-Verkäufe (Kapazität $57,9 Mio.) entstehen. Inovio bleibt ein Biotech-Unternehmen in der klinischen Phase ohne Produktumsatz, mit erheblichen kumulierten Verlusten und vielfältigen Risiken in Forschung & Entwicklung, Regulierung, Herstellung und Finanzierung.
Unternehmensstatus: Inovio ist ein „smaller reporting company“, was reduzierte SEC-Offenlegung ermöglicht. Piper Sandler ist der alleinige Bookrunner.

07/02/2025 - 04:28 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Shattock Matthew J

(Last)

(First)

(Middle)

1221 BROADWAY

(Street)

OAKLAND

94612-1888

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
CLOROX CO /DE/ [ CLX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Deferred Stock Units	⁽¹⁾	05/09/2025		A⁽²⁾	V	144.0464		⁽³⁾	⁽³⁾	Common Stock	144.0464	$0.0000	16,055.2659	D
Deferred Stock Units	⁽¹⁾	06/30/2025		A⁽⁴⁾		426.8343		⁽³⁾	⁽³⁾	Common Stock	426.8343	$0.0000	16,482.1002	D

Explanation of Responses:

1. 1-for-1

2. Deferred Stock Units acquired through dividend reinvestment during the fiscal year pursuant to the Independent Directors' Deferred Compensation Plan.

3. The Deferred Stock Units will be settled 100% in Clorox stock in connection with the reporting person's retirement or other termination of service as a Director.

4. Receipt of Deferred Stock Units in lieu of receipt of quarterly director's fees.

	By Cheryl Brice, Attorney-in-Fact for	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What is Inovio Pharmaceuticals (INO) selling in this 424B5 offering?

INO is offering shares of common stock—or pre-funded warrants in lieu of shares—bundled with Series A and Series B common-stock warrants. All securities are immediately separable but must be purchased together.

Why is Inovio raising capital now?

Proceeds will support continued development of its DNA-medicine pipeline, notably the rolling BLA submission and potential commercial launch of lead candidate INO-3107, plus general corporate purposes.

How long do the new warrants last?

Series A warrants expire on the earlier of 30 days after FDA accepts the INO-3107 BLA or 12 months post-issuance; Series B warrants expire five years after issuance.

Will the pre-funded and common stock warrants trade on Nasdaq?

No. Inovio does not intend to list the pre-funded, Series A or Series B warrants on any securities exchange, so liquidity will be limited.

What dilution should current INO shareholders expect?

Exact impact is unknown until pricing is set, but any issuance adds to ~36.7 m shares outstanding and sits on top of ~12.9 m potential shares from existing options and warrants.

How is Inovio addressing past device manufacturing issues?

The company states it resolved a manufacturing issue with the single-use component of its CELLECTRA 5PSP device in Q1-2025, clearing the path for a confirmatory trial and BLA filing.

[Form 4] Clorox Company Insider Trading Activity

Insights

FAQ

What is Inovio Pharmaceuticals (INO) selling in this 424B5 offering?

Why is Inovio raising capital now?

How long do the new warrants last?

Will the pre-funded and common stock warrants trade on Nasdaq?

What dilution should current INO shareholders expect?

How is Inovio addressing past device manufacturing issues?

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[Form 4] Clorox Company Insider Trading Activity

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FAQ

What is Inovio Pharmaceuticals (INO) selling in this 424B5 offering?

Why is Inovio raising capital now?

How long do the new warrants last?

Will the pre-funded and common stock warrants trade on Nasdaq?

What dilution should current INO shareholders expect?

How is Inovio addressing past device manufacturing issues?

NYSE:CLX

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