Current Report Filing (8-k)
July 16 2019 - 4:45PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 12, 2019
Inovio Pharmaceuticals, Inc.
(Exact name of registrant as specified in its charter)
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Delaware
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001-14888
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33-0969592
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(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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660 W. Germantown Pike, Suite 110
Plymouth Meeting, PA 19462
(Address of principal executive offices, including zip code)
(267)
440-4200
(Registrants telephone number, including area code)
N/A
(Former name or
former address, if changed since last report)
Check the appropriate box below
if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17
CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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Title of each class
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Trading
Symbol(s)
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Name of each exchange
on which registered
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Common Stock, $0.001 par value
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INO
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The Nasdaq Stock Market
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (§230.405 of this chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of this chapter).
Emerging growth company ☐
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act. ☐
Item 2.05
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Costs Associated with Exit or Disposal Activities.
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On July 16, 2019, Inovio Pharmaceuticals, Inc. (the Company) announced a strategic organizational restructuring, to
principally align its operations around its late-stage assets and reallocate capital to high-value early development programs. In order to reduce operating expenses and conserve cash resources, the Company also announced a reduction of approximately
28% of its workforce and the discontinuation of its immuno-oncology Phase 1/2 study of
INO-5401
in advanced bladder cancer. On July 12, 2019, the Companys Board of Directors approved these actions,
which were effective immediately. As a result, the Company expects to incur a personnel-related restructuring charge of approximately $2.3 million in connection with
one-time
employee termination
costs, including severance and other benefits, which is expected to be incurred primarily in the third quarter of 2019.
The estimates of
costs that the Company expects to incur and the timing thereof are subject to a number of assumptions and actual results may differ.
The Company issued a press release on July 16, 2019 announcing the restructuring initiative and providing an update on its pipeline
programs, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01
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Financial Statements and Exhibits.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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INOVIO PHARMACEUTICALS, INC.
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Date: July 16, 2019
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By:
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/s/ Peter Kies
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Peter Kies
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Chief Financial Officer
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