Citing a sharper strategy on its late-stage HPV assets, Inovio Pharmaceuticals (NASDAQ:INO) implements a cost-cutting initiative aimed at reducing its cash consumption by 25%. Key points:
Phase 1/2 study evaluating INO-5401 in advanced bladder cancer terminated.
Workforce cut by 28%.
Management will host a conference call tomorrow, July 17, at 8:00 am ET to discuss its plans.
Shares are down 7% after hours.
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