08:43 AM EDT, 04/16/2024 (MT Newswires) -- Inovio Pharmaceuticals ( INO ) shares slid 24% in premarket activity Tuesday after the company said late Monday that it priced its underwritten offering of common stock and pre-funded warrants, for gross proceeds of about $36 million.

The offering of about 2.5 million common shares at $7.693 per share and pre-funded warrants to purchase roughly 2.1 million common shares at $7.692 per pre-funded warrant is expected to close around Thursday, the company said.