Inovio announces effective date of 1-for-12 reverse stock split

Inovio announced that a 1-for-12 reverse stock split of its outstanding shares of common stock will be effective as of 5:00 p.m. Eastern Time on Wednesday, January 24. The company’s common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on Thursday, January 25. Following the reverse stock split, the company’s common stock will continue to trade on the Nasdaq Capital Market under the symbol “INO” with the new CUSIP number, 45773H 409. The reverse stock split is part of the company’s plan to regain compliance with the minimum bid price requirement for continued listing on Nasdaq. At the effective time of the reverse split, every 12 issued and outstanding shares of the company’s common stock will automatically be combined into one issued and outstanding share of the company’s common stock without any change in the par value per share. The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s relative interest in the company’s equity securities. The reverse stock split will not reduce the number of authorized shares of the company’s common stock, which will remain at 600M shares. The reverse stock split will reduce the number of issued and outstanding shares of the company’s common stock from approximately 280.1M to approximately 23.3M.