2020-07-16 01:33:52 -0400
To: Inovio Board of Directors, Management, Dr. Kim
Inovio Shareholders Petition to Replace Investor Relations Focal
Inovio investors, collectively, have concerns regarding the current investor relations focal, viz. Ben Matone. Not only does he consistently demonstrate unprofessional behavior (via his personal twitter @benmat07) to his shareholders, but also he seems to overlook investors' concerns pertaining to relevant information, which is essential for persons investing in Inovio. We understand some information is protected or in-work; therefore, cannot be released. However, there is ongoing concern over Inovio's investor relations' lack of transparency on progress, data, and timelines, which are key to shareholders. We recommend hiring a better PR/IR focal and allocating more resources, at the company's discretion, to keeping shareholders in the loop. Overall, the sentiment from Inovio investors in regards to the current PR is very poor and needs significant improvement.
Why is this important?
The importance of having a strong investor relations' focal is two-fold. One, it enables shareholders to have confidence in their investments and facilitates trust, since there is an open dialogue occurring between owners and management. Two, it allows for the maximization of shareholder value, as investor relations is key to getting out pertinent information, data, timelines, deadlines, etc. to shareholders. There are several other reasons having a strong IR can help both the firm and the owners (e.g. staying relevant in a competitive environment with multiple players in the race for a vaccine).