INOVIO cuts 18% workforce (55 employees) and 86% of contractors to extend cash runway to Q3 2024

INOVIO PHARMACEUTICALS, INC.

Headcount reduced by 55 employees (18% of full-time staff) and 86% of contractor agreements terminated.
Expected to reduce operating expenses by ~30% over 18 months; cash runway extended into Q3 2024.
One-time pre-tax charge of $1.6 million in Q3 2022; cash payments substantially completed by Sept 30, 2022.
Focus shifts to heterologous boost strategy for COVID-19 vaccine (INO-4800) and HPV programs; key data readouts later in 2022.

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