INO - Inovio Pharmaceuticals: The Dilution Continues
2024-04-23 08:29:36 ET
Summary
- Inovio Pharmaceuticals has once again diluted its stock at far below market prices, killing its recent rally.
- INO's latest try at bringing a treatment to market is INO-3107, for which it expects to submit a BLA in the second half of 2024.
- Potential market size if the BLA is successful is $770 million, so there is a significant upside upon success.
- The company's burn rate is at ~$30 million per quarter, even as it champions having reduced it by half.
- The stock might be worth a speculative long position at $7.50 or below.
Death, taxes and Inovio Pharmaceuticals, Inc. ( INO ) diluting its stock into any run appear to be the three sure things in life. I have written about INO's tendencies to dilute the stock with little valued added for shareholders back in 2017 and once again in 2020 . This has resulted in the company's chart resembling the world's most painful ski slope: