[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 depositato un supplemento preliminare al prospetto nell'ambito del suo shelf registration efficace 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 di Serie A e (iii) warrant di Serie B. Ogni azione (o warrant pre-finanziato) sarà venduta insieme a un warrant di Serie A e a un warrant di Serie B, anche se i titoli sono immediatamente separabili al momento dell'emissione.

Prezzo e dimensione: Gli aspetti economici chiave — numero di titoli, prezzo pubblico combinato, sconto di sottoscrizione e proventi lordi/netti — restano da definire in attesa della finalizzazione del marketing, ma il deposito autorizza un'opzione di sovrallocazione di 30 giorni per azioni e warrant aggiuntivi.
Profilo dei warrant: • I warrant di Serie A sono esercitabili immediatamente e scadono al primo tra (a) 30 giorni dopo l'accettazione da parte della FDA di una Biologics License Application (BLA) per INO-3107 oppure (b) 12 mesi dall'emissione; • i warrant di 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 terapie a base di DNA — inclusa la presentazione progressiva della BLA per l'asset principale INO-3107 nella papillomatosi respiratoria ricorrente, prevista per metà 2025, (2) eventuali preparativi per il 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 resta una biotech in fase clinica senza ricavi da prodotti, con perdite accumulate significative e molteplici rischi legati a R&D, regolamentazione, produzione e finanziamenti.
Stato aziendale: Inovio è una “smaller reporting company”, il che consente una riduzione delle informazioni richieste dalla SEC. Piper Sandler è l’unico gestore dell’offerta.

Poiché le cifre sono indicative, il deposito segnala principalmente l’intenzione di rafforzare il bilancio in vista di importanti eventi regolatori, più che fornire un impatto finanziario definitivo.

Inovio Pharmaceuticals, Inc. (Nasdaq: INO) ha presentado un suplemento preliminar al prospecto bajo su registro vigente 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 separables inmediatamente tras la emisión.

Precio y tamaño: Los aspectos económicos clave — número de valores, precio público combinado, descuento de suscripción y ingresos brutos/netos — están pendientes de definición tras el 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 Biologics License Application (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 serie será listada, limitando la liquidez.
Uso de los ingresos: La dirección planea destinar los fondos a (1) avanzar en la pipeline clínica de medicina de ADN — incluyendo una presentación progresiva de la BLA para el activo principal INO-3107 en papilomatosis respiratoria recurrente, prevista para mediados de 2025, (2) preparativos potenciales para el lanzamiento comercial de INO-3107 si se aprueba, y (3) fines corporativos generales.
Dilución y riesgos: La compañía advierte que los inversores sufrirán dilución inmediata; podría haber dilución adicional por premios de capital pendientes (≈2,6 millones de acciones), warrants legacy (≈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 relacionados con I+D, regulación, fabricación y financiamiento.
Estado corporativo: Inovio es una “smaller reporting company”, lo que permite una menor divulgación ante la SEC. Piper Sandler es el único administrador del libro.

Dado que las cifras son provisionales, la presentación principalmente señala la intención de fortalecer el balance antes de catalizadores regulatorios clave más que comunicar un impacto financiero finalizado.

Inovio Pharmaceuticals, Inc. (나스닥: INO)는 유효한 셸프 등록 하에 예비 증권 설명서 보충서를 제출하여 다음을 결합한 자본 조달을 진행합니다: (i) 보통주 또는 보통주 대신 행사 가격 $0.001의 선행 자금 조달 워런트, (ii) 시리즈 A 워런트, (iii) 시리즈 B 워런트. 각 주식(또는 선행 자금 조달 워런트)은 시리즈 A 워런트 1개와 시리즈 B 워런트 1개와 함께 판매되며, 발행 즉시 증권은 분리 가능합니다.

가격 및 규모: 핵심 경제 지표—증권 수, 공모가, 인수 수수료, 총/순 수익—는 최종 마케팅 전까지 미정이며, 추가 주식 및 워런트에 대해 30일간 초과 배정 옵션을 승인합니다.
워런트 프로필: • 시리즈 A 워런트는 즉시 행사 가능하며, (a) FDA가 INO-3107의 생물학적 제제 허가 신청서(BLA)를 접수한 후 30일이 되는 날 또는 (b) 발행 후 12개월 중 빠른 시일에 만료됩니다. • 시리즈 B 워런트는 즉시 행사 가능하며 발행 후 5년 만료됩니다. 두 시리즈 모두 상장되지 않아 유동성이 제한됩니다.
수익금 사용: 경영진은 자금을 (1) DNA 의약품 임상 파이프라인 진전—재발성 호흡기 유두종증에 대한 주력 자산 INO-3107의 롤링 BLA 제출이 2025년 중반 시작될 예정, (2) INO-3107 승인 시 잠재적 상업 출시 준비, (3) 일반 기업 목적에 사용할 계획입니다.
희석 및 위험: 회사는 투자자가 즉각적인 희석을 경험할 것이라고 경고하며, 미지급 주식 보상(약 260만 주), 기존 워런트(약 1,000만 주, 행사 가격 $3.76), 향후 ATM 매출($5,790만 한도)으로 추가 희석 가능성이 있다고 밝혔습니다. Inovio는 제품 수익이 없는 임상 단계 바이오텍으로, 상당한 누적 적자와 다수의 연구개발, 규제, 제조 및 자금 조달 위험을 안고 있습니다.
기업 현황: Inovio는 SEC 공시를 간소화할 수 있는 “소규모 보고 회사(small reporting company)”로 분류되며, Piper Sandler가 단독 주관사입니다.

금액이 임시값이므로 이번 제출은 주요 규제 촉매를 앞두고 재무 건전성 강화를 위한 의도를 주로 나타내며, 최종 재무 영향은 아닙니다.

Inovio Pharmaceuticals, Inc. (Nasdaq : INO) a déposé un supplément préliminaire au prospectus dans le cadre de son enregistrement en vigueur afin de lever des fonds via une offre combinée de : (i) actions ordinaires ou bons de souscription préfinancés (prix d’exercice 0,001 $) en lieu et place des actions ordinaires, (ii) bons de souscription de série A, et (iii) bons de souscription de série B. Chaque action (ou bon préfinancé) sera vendue avec un bon de série A et un bon de 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, et produit brut/net — 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 : • Les bons de 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 de série B sont exerçables immédiatement et expirent cinq ans après émission. Aucune des séries ne sera cotée, limitant la liquidité.
Utilisation des fonds : La direction prévoit d’allouer les fonds à (1) l’avancement de sa pipeline clinique de médecine 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 potentielle au lancement commercial d’INO-3107 en cas d’approbation, et (3) des besoins généraux d’entreprise.
Dilution et risques : La société avertit que les investisseurs subiront une dilution immédiate ; une dilution supplémentaire pourrait résulter des attributions d’actions en cours (≈2,6 millions d’actions), des bons hérités (≈10 millions à 3,76 $) et des ventes futures ATM (capacité de 57,9 millions de dollars). Inovio reste une biotech en phase clinique sans revenus produits, avec des déficits accumulés importants 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 gestionnaire unique de l’opération.

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 finalisé.

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

Preisgestaltung & Umfang: Wichtige wirtschaftliche Eckdaten — Anzahl der Wertpapiere, kombinierter öffentlicher Preis, Underwriting-Discount sowie Brutto-/Nettoerlöse — sind noch offen und hängen vom endgültigen Marketing ab. Die Einreichung genehmigt jedoch eine Überzuteilungsoption von 30 Tagen für zusätzliche Aktien und Warrants.
Warrant-Profil: • Serie-A-Warrants sind sofort ausübbar und verfallen spätestens (a) 30 Tage nach FDA-Akzeptanz eines Biologics License Application (BLA) für INO-3107 oder (b) 12 Monate nach Ausgabe; • Serie-B-Warrants 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 DNA-Medikamenten-Klinikpipeline einzusetzen — einschließlich einer rollierenden BLA-Einreichung für den Leitkandidaten INO-3107 bei rezidivierender respiratorischer Papillomatose, die Mitte 2025 beginnen soll, (2) mögliche kommerzielle Markteinführungs-Vorbereitungen für INO-3107 bei Zulassung und (3) allgemeine Unternehmenszwecke.
Verwässerung & Risiko: Das Unternehmen warnt, dass Investoren sofortige Verwässerung erleiden; weitere Verwässerung könnte durch ausstehende Aktienprämien (ca. 2,6 Mio. Aktien), Alt-Warrants (ca. 10 Mio. zu 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 F&E, Regulierung, Herstellung und Finanzierung.
Unternehmensstatus: Inovio ist ein „smaller reporting company“, was reduzierte SEC-Offenlegung ermöglicht. Piper Sandler ist alleiniger 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: Gli aspetti economici chiave — numero di titoli, prezzo pubblico combinato, sconto di sottoscrizione e proventi lordi/netti — restano da definire in attesa della finalizzazione del marketing, ma il deposito autorizza un'opzione di sovrallocazione di 30 giorni per azioni e warrant aggiuntivi.
Profilo dei warrant: • I warrant di Serie A sono esercitabili immediatamente e scadono al primo tra (a) 30 giorni dopo l'accettazione da parte della FDA di una Biologics License Application (BLA) per INO-3107 oppure (b) 12 mesi dall'emissione; • i warrant di 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 terapie a base di DNA — inclusa la presentazione progressiva della BLA per l'asset principale INO-3107 nella papillomatosi respiratoria ricorrente, prevista per metà 2025, (2) eventuali preparativi per il 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 resta una biotech in fase clinica senza ricavi da prodotti, con perdite accumulate significative e molteplici rischi legati a R&D, regolamentazione, produzione e finanziamenti.
Stato aziendale: Inovio è una “smaller reporting company”, il che consente una riduzione delle informazioni richieste dalla SEC. Piper Sandler è l’unico gestore dell’offerta.

Precio y tamaño: Los aspectos económicos clave — número de valores, precio público combinado, descuento de suscripción y ingresos brutos/netos — están pendientes de definición tras el 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 Biologics License Application (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 serie será listada, limitando la liquidez.
Uso de los ingresos: La dirección planea destinar los fondos a (1) avanzar en la pipeline clínica de medicina de ADN — incluyendo una presentación progresiva de la BLA para el activo principal INO-3107 en papilomatosis respiratoria recurrente, prevista para mediados de 2025, (2) preparativos potenciales para el lanzamiento comercial de INO-3107 si se aprueba, y (3) fines corporativos generales.
Dilución y riesgos: La compañía advierte que los inversores sufrirán dilución inmediata; podría haber dilución adicional por premios de capital pendientes (≈2,6 millones de acciones), warrants legacy (≈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 relacionados con I+D, regulación, fabricación y financiamiento.
Estado corporativo: Inovio es una “smaller reporting company”, lo que permite una menor divulgación ante la SEC. Piper Sandler es el único administrador del libro.

가격 및 규모: 핵심 경제 지표—증권 수, 공모가, 인수 수수료, 총/순 수익—는 최종 마케팅 전까지 미정이며, 추가 주식 및 워런트에 대해 30일간 초과 배정 옵션을 승인합니다.
워런트 프로필: • 시리즈 A 워런트는 즉시 행사 가능하며, (a) FDA가 INO-3107의 생물학적 제제 허가 신청서(BLA)를 접수한 후 30일이 되는 날 또는 (b) 발행 후 12개월 중 빠른 시일에 만료됩니다. • 시리즈 B 워런트는 즉시 행사 가능하며 발행 후 5년 만료됩니다. 두 시리즈 모두 상장되지 않아 유동성이 제한됩니다.
수익금 사용: 경영진은 자금을 (1) DNA 의약품 임상 파이프라인 진전—재발성 호흡기 유두종증에 대한 주력 자산 INO-3107의 롤링 BLA 제출이 2025년 중반 시작될 예정, (2) INO-3107 승인 시 잠재적 상업 출시 준비, (3) 일반 기업 목적에 사용할 계획입니다.
희석 및 위험: 회사는 투자자가 즉각적인 희석을 경험할 것이라고 경고하며, 미지급 주식 보상(약 260만 주), 기존 워런트(약 1,000만 주, 행사 가격 $3.76), 향후 ATM 매출($5,790만 한도)으로 추가 희석 가능성이 있다고 밝혔습니다. Inovio는 제품 수익이 없는 임상 단계 바이오텍으로, 상당한 누적 적자와 다수의 연구개발, 규제, 제조 및 자금 조달 위험을 안고 있습니다.
기업 현황: Inovio는 SEC 공시를 간소화할 수 있는 “소규모 보고 회사(small reporting company)”로 분류되며, Piper Sandler가 단독 주관사입니다.

금액이 임시값이므로 이번 제출은 주요 규제 촉매를 앞두고 재무 건전성 강화를 위한 의도를 주로 나타내며, 최종 재무 영향은 아닙니다.

Tarification et taille : Les paramètres économiques clés — nombre de titres, prix public combiné, décote de souscription, et produit brut/net — 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 : • Les bons de 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 de série B sont exerçables immédiatement et expirent cinq ans après émission. Aucune des séries ne sera cotée, limitant la liquidité.
Utilisation des fonds : La direction prévoit d’allouer les fonds à (1) l’avancement de sa pipeline clinique de médecine 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 potentielle au lancement commercial d’INO-3107 en cas d’approbation, et (3) des besoins généraux d’entreprise.
Dilution et risques : La société avertit que les investisseurs subiront une dilution immédiate ; une dilution supplémentaire pourrait résulter des attributions d’actions en cours (≈2,6 millions d’actions), des bons hérités (≈10 millions à 3,76 $) et des ventes futures ATM (capacité de 57,9 millions de dollars). Inovio reste une biotech en phase clinique sans revenus produits, avec des déficits accumulés importants 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 gestionnaire unique de l’opération.

Preisgestaltung & Umfang: Wichtige wirtschaftliche Eckdaten — Anzahl der Wertpapiere, kombinierter öffentlicher Preis, Underwriting-Discount sowie Brutto-/Nettoerlöse — sind noch offen und hängen vom endgültigen Marketing ab. Die Einreichung genehmigt jedoch eine Überzuteilungsoption von 30 Tagen für zusätzliche Aktien und Warrants.
Warrant-Profil: • Serie-A-Warrants sind sofort ausübbar und verfallen spätestens (a) 30 Tage nach FDA-Akzeptanz eines Biologics License Application (BLA) für INO-3107 oder (b) 12 Monate nach Ausgabe; • Serie-B-Warrants 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 DNA-Medikamenten-Klinikpipeline einzusetzen — einschließlich einer rollierenden BLA-Einreichung für den Leitkandidaten INO-3107 bei rezidivierender respiratorischer Papillomatose, die Mitte 2025 beginnen soll, (2) mögliche kommerzielle Markteinführungs-Vorbereitungen für INO-3107 bei Zulassung und (3) allgemeine Unternehmenszwecke.
Verwässerung & Risiko: Das Unternehmen warnt, dass Investoren sofortige Verwässerung erleiden; weitere Verwässerung könnte durch ausstehende Aktienprämien (ca. 2,6 Mio. Aktien), Alt-Warrants (ca. 10 Mio. zu 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 F&E, Regulierung, Herstellung und Finanzierung.
Unternehmensstatus: Inovio ist ein „smaller reporting company“, was reduzierte SEC-Offenlegung ermöglicht. Piper Sandler ist alleiniger 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^*

WILLIAMS CHRISTOPHER 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	168.6631		⁽³⁾	⁽³⁾	Common Stock	168.6631	$0.0000	18,799.0217	D
Deferred Stock Units	⁽¹⁾	06/30/2025		A⁽⁴⁾		247.223		⁽³⁾	⁽³⁾	Common Stock	247.223	$0.0000	19,046.2446	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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