Genetronics Biomedical (San Diego), which is developing oncology and other therapies using electroporation to deliver drugs and nucleic acids, said that it has changed its corporate name to Inovio Biomedical by filing a certificate of amendment to its certificate of incorporation in the state of Delaware with the secretary of state on March 31. Effective April 4, Genetronics' American Stock Exchange symbol will change from GEB to INO.
Avtar Dhillon, MD, president and CEO of the company, said the name change "symbolizes the completion of the transformation of our management, financial position and commercialization strategy. Inovio is well-positioned for growth as we progress on our clinical development and advance toward commercialization."
Holders of stock certificates bearing the name "Genetronics Biomedical Corporation" may continue to hold them and will not be required to exchange them for new certificates or take any other action. The CUSIP number for the company's common stock will change to 45773H 10 2. Genetronics Biomedical's wholly owned subsidiary, Genetronics, intends to change its corporate name to Inovio Inc. in the near future.
Inovio Biomedical is a late-stage biomedical company focused on building an oncology franchise based on its proprietary electroporation therapy.