Inovio pharmaceutical {NASDAQ: INO} have confirmed the price of their recently announced financing will be at $6, a 25% discount to where the stock started the week, and as a result, the share price is now trading at $6.05c.

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Comment

Clearly the market is not impressed by this financing, but looking at the Inovio chart over the years, the $6 level is a strong support area, and the stock often trades between $6 and $9, (with a past yearly high of $11), so this may be worth keeping an eye on for a trading opportunity, once the placing is behind them.

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Inovio pharmaceutical {NASDAQ: INO} have confirmed the price of their recently announced financing will be at $6, a 25% discount to where the stock started the week, and as a result, the share price is now trading at $6.05c.

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The equity dilution is around 15% without the over-allotment.

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