Plymouth Meeting-based Inovio Pharmaceuticals is expecting to raise $36 million through a stock offering this week, writes John George for the Philadelphia Business Journal.

The biotechnology company, which is on track to seek approval for its DNA medicine candidate later in the year, is selling 2.5 million shares of its common stock at $7.693 per share, as well as pre-funded warrants to buy 2.14 million shares of its common stock at $7.692 each.

The funds from the financing round will support the company as it continues to advance INO-3107, its experimental treatment for recurrent respiratory papillomatosis.

Deep Track Capital is leading the offering.

Inovio CEO Dr. Jacqueline Shea stated in a report to shareholders filed earlier this week with the Securities and Exchange Commission that 2023 was a “transformational” year for the company.

“To achieve this transformation, we prioritized our product pipeline to focus on INO-3107 and other late-stage assets with strong commercial potential that are intended to treat diseases with high unmet medical need,” said Shea.

If it gets the green light, INO-3107 could become the first non-surgical therapeutic option for recurrent respiratory papillomatosis patients. It would also be the first DNA medicine available in the United States.

Read more about Inovio and its DNA medicine at the Philadelphia Business Journal.

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