Inovio Pharmaceuticals Grants Equity to New Hire Under Inducement Plan

INOVIO Pharmaceuticals

PLYMOUTH MEETING, PAInovio Pharmaceuticals, Inc. (NASDAQ: INO) recently announced an equity grant to a newly hired employee under its 2022 Inducement Plan. The Compensation Committee of Inovio’s Board of Directors approved the award of options to purchase 1,666 shares of common stock.

The grant date for these options was May 31, 2024. The exercise price is set at $10.13, which was the closing price of Inovio’s common stock on that date. These stock options will vest in stages: one-fourth of the shares will vest on the grant date, and another one-fourth will vest on each of the first three anniversaries of the grant date. Vesting is contingent upon the employee’s continued employment with Inovio.

Inovio Pharmaceuticals, listed on the NASDAQ stock exchange under the ticker INO, operates in the healthcare sector, specifically in biotechnology. Friday’s data shows the company’s stock price at $9.77, with a 52-week range between $3.89 and $14.75. The company’s market capitalization stands at around $253 million, though it currently has a P/E ratio of 0, indicating it is not profitable.

Analysts estimate a 1-year target price of $13.50 for the stock, and recent trading volume reached 375,632 shares.

Inovio continues to focus on innovative medical solutions, and this latest equity grant aims to underline its commitment to attracting and retaining top talent in the competitive biotechnology industry.

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