Inovio raises $55 million in follow-on

Inovio Pharmaceuticals Inc. (NYSE-M:INO) raised $55 million through the sale of 19 million shares at $2.90 in a follow-on underwritten by Piper Jaffray; Stifel; Brean Capital; and Maxim Group. Inovio proposed the offering late Wednesday, when its share price was $3.73. The company's VGX-3100, a DNA-based therapeutic vaccine targeting the E6 and E7 proteins of HPV 16 and 18, is in Phase II testing to treat cervical intraepithelial neoplasia (CIN) caused by HPV types 16 and 18. ...