Inovio Pharmaceuticals Reports 2012 Fourth Quarter and Year End Financi... (arrant to purchase 0.50 shares of common...)

Inovio Pharmaceuticals Reports 2012 Fourth Quarter and Year End Financial Results

Date:3/18/2013

arrant to purchase 0.50 shares of common stock at an exercise price of $0.7936 per share. The warrants have a term of five and one-half years. The net proceeds, after deducting the underwriters' discounts and other estimated offering expenses, and assuming no exercise of the warrants, were approximately $14.0 million.

Based on management's projections and analysis, the Company believes that current cash and cash equivalents plus short-term investments are sufficient to meet its planned working capital requirements through 2014.

Inovio's balance sheet and statement of operations are provided below. Form 10-K providing the complete 2012 annual financial report can be found at: http://ir.inovio.com/secfilings.

Corporate UpdateClinical DevelopmentInovio's mission is to revolutionize vaccines by achieving critical capabilities: using synthetic non-replicating vaccines to not only prevent but treat cancers and infectious diseases, including enabling universal protection against multiple unmatched pathogen strains. In 2012, we reported important scientific and clinical breakthroughs on these fronts.

With respect to the treatment potential of our novel synthetic vaccines, we reported significant antigen-specific T-cell responses from our HIV-001 phase I study, which enrolled 12 adult HIV-positive volunteers to assess our PENNVAX®-B vaccine delivered with electroporation. These results affirmed best-in-class immune responses reported in 2011 from Inovio's HVTN-080 48-patient phase I study of PENNVAX-B in healthy volunteers.

We also reported that our SynCon® va
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SOURCE Inovio Pharmaceuticals, Inc.
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