INOVIO Reports Fourth Quarter and Full Year 2024 Financial Results and Operational Highlights
INOVIO (NASDAQ: INO) reported its Q4 and full-year 2024 financial results, highlighting significant progress toward its first Biologics License Application (BLA) for INO-3107, targeting recurrent respiratory papillomatosis (RRP). The company resolved manufacturing issues and plans to begin rolling BLA submission in mid-2025.
Key financial metrics for 2024 include:
- Cash position: $94.1M (down from $145.3M in 2023)
- Annual revenue: $218,000 (decreased from $832,000 in 2023)
- Net loss: $107.3M or $3.95 per share (improved from $135.1M in 2023)
- R&D expenses: $75.6M (reduced from $86.7M in 2023)
Clinical highlights include promising durability data showing 50% of RRP patients achieved Complete Response in year 2, and positive interim results from their DNA-encoded monoclonal antibodies (DMAb) COVID-19 trial. The company projects its current cash position will support operations into Q1 2026, with an estimated Q1 2025 operational net cash burn of $27M.
INOVIO (NASDAQ: INO) ha riportato i risultati finanziari per il quarto trimestre e l'intero anno 2024, evidenziando progressi significativi verso la sua prima Domanda di Licenza Biologica (BLA) per INO-3107, mirata alla papillomatosi respiratoria ricorrente (RRP). L'azienda ha risolto problemi di produzione e prevede di iniziare a presentare la BLA a metà del 2025.
I principali indicatori finanziari per il 2024 includono:
- Posizione di cassa: 94,1 milioni di dollari (in calo rispetto a 145,3 milioni di dollari nel 2023)
- Entrate annuali: 218.000 dollari (diminuito rispetto a 832.000 dollari nel 2023)
- Perdita netta: 107,3 milioni di dollari o 3,95 dollari per azione (migliorata rispetto a 135,1 milioni di dollari nel 2023)
- Spese per R&S: 75,6 milioni di dollari (ridotte rispetto a 86,7 milioni di dollari nel 2023)
I punti salienti clinici includono dati promettenti sulla durata che mostrano come il 50% dei pazienti con RRP abbia raggiunto una Risposta Completa nel secondo anno, e risultati intermedi positivi dal loro studio sui monoclonali codificati da DNA (DMAb) per il COVID-19. L'azienda prevede che l'attuale posizione di cassa sosterrà le operazioni fino al primo trimestre del 2026, con una stima di consumo netto di cassa operativo di 27 milioni di dollari nel primo trimestre del 2025.
INOVIO (NASDAQ: INO) informó sus resultados financieros del cuarto trimestre y del año completo 2024, destacando avances significativos hacia su primera Solicitud de Licencia Biológica (BLA) para INO-3107, dirigida a la papillomatosis respiratoria recurrente (RRP). La compañía resolvió problemas de fabricación y planea comenzar a presentar la BLA a mediados de 2025.
Los principales indicadores financieros para 2024 incluyen:
- Posición de efectivo: $94.1M (bajó de $145.3M en 2023)
- Ingresos anuales: $218,000 (disminuyó de $832,000 en 2023)
- Pérdida neta: $107.3M o $3.95 por acción (mejorada desde $135.1M en 2023)
- Gastos de I+D: $75.6M (reducidos desde $86.7M en 2023)
Los aspectos clínicos destacados incluyen datos prometedores de durabilidad que muestran que el 50% de los pacientes con RRP lograron una Respuesta Completa en el segundo año, y resultados intermedios positivos de su ensayo de anticuerpos monoclonales codificados por ADN (DMAb) para COVID-19. La compañía proyecta que su posición de efectivo actual apoyará las operaciones hasta el primer trimestre de 2026, con un consumo neto de efectivo operativo estimado de $27M para el primer trimestre de 2025.
INOVIO (NASDAQ: INO)는 2024년 4분기 및 연간 재무 결과를 보고하며 INO-3107의 첫 번째 생물학적 라이센스 신청(BLA)을 위한 상당한 진전을 강조했습니다. 이는 재발성 호흡기 유두종증(RRP)을 목표로 하고 있습니다. 회사는 제조 문제를 해결했으며 2025년 중반에 BLA 제출을 시작할 계획입니다.
2024년 주요 재무 지표는 다음과 같습니다:
- 현금 보유액: 9,410만 달러 (2023년 1억 4,530만 달러에서 감소)
- 연간 수익: 218,000달러 (2023년 832,000달러에서 감소)
- 순손실: 1억 7,300만 달러 또는 주당 3.95달러 (2023년 1억 3,510만 달러에서 개선)
- 연구개발 비용: 7,560만 달러 (2023년 8,670만 달러에서 감소)
임상 하이라이트에는 RRP 환자의 50%가 2년 차에 완전 반응을 달성한 것을 보여주는 유망한 지속성 데이터와 COVID-19 시험에서 DNA로 인코딩된 단클론 항체(DMAb)의 긍정적인 중간 결과가 포함됩니다. 회사는 현재 현금 보유액이 2026년 1분기까지 운영을 지원할 것이라고 예상하며, 2025년 1분기 운영 순현금 소모는 2,700만 달러로 추정하고 있습니다.
INOVIO (NASDAQ: INO) a publié ses résultats financiers pour le quatrième trimestre et l'année entière 2024, mettant en évidence des progrès significatifs vers sa première Demande de Licence Biologique (BLA) pour INO-3107, ciblant la papillomatose respiratoire récurrente (RRP). L'entreprise a résolu des problèmes de fabrication et prévoit de commencer à soumettre la BLA à la mi-2025.
Les principaux indicateurs financiers pour 2024 comprennent :
- Position de trésorerie : 94,1 millions de dollars (en baisse par rapport à 145,3 millions de dollars en 2023)
- Revenus annuels : 218 000 dollars (en baisse par rapport à 832 000 dollars en 2023)
- Perte nette : 107,3 millions de dollars ou 3,95 dollars par action (améliorée par rapport à 135,1 millions de dollars en 2023)
- Dépenses de R&D : 75,6 millions de dollars (réduites par rapport à 86,7 millions de dollars en 2023)
Les points saillants cliniques incluent des données prometteuses sur la durabilité montrant que 50 % des patients atteints de RRP ont atteint une Réponse Complète au cours de la deuxième année, ainsi que des résultats intermédiaires positifs de leur essai sur les anticorps monoclonaux codés par ADN (DMAb) pour le COVID-19. L'entreprise prévoit que sa position de trésorerie actuelle soutiendra les opérations jusqu'au premier trimestre 2026, avec une estimation d'une consommation nette de trésorerie opérationnelle de 27 millions de dollars pour le premier trimestre 2025.
INOVIO (NASDAQ: INO) hat seine Finanzzahlen für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht und erhebliche Fortschritte bei der ersten Biologischen Lizenzanmeldung (BLA) für INO-3107, das auf die wiederkehrende respiratorische Papillomatose (RRP) abzielt, hervorgehoben. Das Unternehmen hat Produktionsprobleme gelöst und plant, die BLA-Anmeldung Mitte 2025 zu beginnen.
Wichtige Finanzkennzahlen für 2024 umfassen:
- Bargeldposition: 94,1 Millionen USD (rückläufig von 145,3 Millionen USD im Jahr 2023)
- Jahresumsatz: 218.000 USD (gesunken von 832.000 USD im Jahr 2023)
- Nettverlust: 107,3 Millionen USD oder 3,95 USD pro Aktie (verbessert von 135,1 Millionen USD im Jahr 2023)
- F&E-Ausgaben: 75,6 Millionen USD (reduziert von 86,7 Millionen USD im Jahr 2023)
Klinische Highlights umfassen vielversprechende Haltbarkeitsdaten, die zeigen, dass 50 % der RRP-Patienten im zweiten Jahr eine vollständige Antwort erzielt haben, sowie positive Zwischenresultate aus ihrer DNA-kodierten monoklonalen Antikörper (DMAb) COVID-19-Studie. Das Unternehmen rechnet damit, dass die aktuelle Bargeldposition die Betriebe bis ins erste Quartal 2026 unterstützen wird, mit einer geschätzten operativen Netto-Cash-Burn von 27 Millionen USD im ersten Quartal 2025.
- Significant progress toward first BLA submission for INO-3107
- Strong clinical data: 50% Complete Response rate in year 2 for RRP treatment
- Successful resolution of manufacturing issues for CELLECTRA device
- Promising DMAb technology results with 100% participant response at week 72
- Reduced net loss by $27.8M compared to 2023
- Operational cost reductions in R&D and G&A expenses
- Revenue declined 74% to $218,000 in 2024 from $832,000 in 2023
- Cash position decreased 35% to $94.1M from $145.3M in 2023
- Required additional funding through ATM and equity offerings ($72M raised)
- Continued operational losses with $107.3M net loss in 2024
Insights
INOVIO's Q4 and full-year 2024 results reveal a crucial inflection point for this small-cap biotech. The company has successfully resolved its previously reported manufacturing issue with the CELLECTRA device array component, clearing a major obstacle for its BLA submission for INO-3107. Their cash position of $94.1 million provides runway into Q1 2026, which aligns strategically with their BLA submission timeline targeting completion by end-2025.
Financially, INOVIO demonstrated improved operational efficiency with reduced annual operating expenses of $112.6 million (down from $144.8 million in 2023) and a narrower net loss of $107.3 million (improved from $135.1 million). While revenues remain minimal at just $218,000 for the year, this is expected for a pre-commercial biotech company.
The most significant near-term catalyst is the planned BLA submission for INO-3107, which could potentially transform INOVIO into a commercial-stage company by 2026. The durability data showing 50% complete response in year two and 86% of patients achieving ≥50% reduction in surgeries provides compelling evidence of long-term efficacy.
The company's DNA medicine platform is showing promising versatility, particularly with their DMAb technology demonstrating sustained antibody production without generating anti-drug antibodies - a significant technical advantage over competing delivery platforms. The $72 million raised through equity offerings in 2024 strengthens their financial foundation, though additional funding will likely be needed before reaching profitability.
The resolution of INOVIO's manufacturing issues with the CELLECTRA device represents a critical de-risking event for their lead program. The completion of all non-device BLA modules and path to begin rolling submission by mid-2025 puts INO-3107 back on a clear regulatory trajectory for RRP, a rare disease with significant unmet need.
The clinical data profile for INO-3107 continues to strengthen with the retrospective analysis showing durable responses extending into years two and three. Particularly impressive is the 50% complete response rate in year two, suggesting potential disease-modifying effects rather than just symptom management. The immunology data showing antigen-specific T-cell responses against HPV-6 and HPV-11 with recruitment to airway tissues provides a mechanistic explanation for this durability.
Beyond INO-3107, the interim results from their DMAb platform represent a potential technological breakthrough. The 72-week durability without anti-drug antibody formation addresses two critical limitations of traditional monoclonal antibodies: manufacturing complexity and short half-life. Unlike AAV-based approaches, INOVIO's DNA-based platform appears to avoid immunogenicity issues that have plagued other in vivo protein production approaches.
The alignment with FDA on the Phase 3 trial design for INO-3112 in oropharyngeal cancer and collaboration with Coherus for LOQTORZI combination therapy creates a second potential commercial opportunity in a much larger market. The appointment of a Chief Commercial Officer signals appropriate preparation for the transition to a commercial organization. Strategic partnering for later-stage pipeline assets will be important for maximizing the value of their technology platform while maintaining financial discipline.
- Significant progress toward submitting a biologics license application (BLA) for INO-3107 as a potential treatment for recurrent respiratory papillomatosis (RRP)
- Resolved previously announced manufacturing issue concerning the single-use array component of the CELLECTRA device and completed drafting of all non-device BLA modules
- On track to begin rolling submission of BLA in mid-2025 and to request priority review with goal of completing the submission in the second half of 2025 and receiving acceptance of the submission by end of the year
- Announced durability data from retrospective study showing that
50% of patients achieved a Complete Response in the second 12-month period (year 2) with86% of patients showing a reduction in surgery of50% or greater in year 2; data to be included in BLA submission
- Announced promising interim results from ongoing proof-of-concept Phase 1 trial showing DNA-encoded monoclonal antibodies (DMAb) targeting COVID-19 were well tolerated and exhibited long-lasting in vivo production
- DMAb technology has the potential to overcome traditional monoclonal antibody production challenges, such as short half-life and anti-drug immune responses, making it a potentially promising platform for a broad range of diseases
- DNA Medicine technology has the potential to provide long term production of therapeutic antibodies and deliver a broad spectrum of therapeutic proteins that could be used to treat diseases with missing or defective proteins
"INOVIO's recent progress puts us on the cusp of achieving several long-term goals for our DNA medicines, most importantly the submission of our first BLA and potential transition to a commercial-stage company," said Dr. Jacqueline Shea, INOVIO's President and Chief Executive Officer. "By resolving the previously announced device array component issue, we are back on track to submitting our first BLA for INO-3107 to the FDA. We anticipate starting our submission in mid-2025 with non-device related modules under the agency's rolling submission program, assuming it is granted, with the goal of having the complete submission accepted for priority review before the end of the year. We continue to believe that INO-3107 has the potential to be the preferred product candidate offering durable clinical benefit, tolerability and a patient-centric dosing regimen and are moving forward with urgency."
Dr. Michael Sumner, INOVIO's Chief Medical Officer, said, "While delivering INO-3107 to patients remains our primary focus, we are extremely pleased with recently announced data from a proof-of-concept trial with our DMAb technology that showed durable in vivo antibody production. DMAbs represent a potential breakthrough as they have the ability to overcome traditional monoclonal antibody production challenges, such as short half-life and anti-drug immune responses. They have the potential to transform treatments for infectious diseases, as well as cancer and metabolic disorders by enabling long-term production of therapeutic antibodies and other proteins. Unlike other delivery platforms, our DNA-based approach has demonstrated sustained antibody production without generating anti-drug antibodies, making it a potentially promising long-term solution for conditions requiring continuous therapeutic protein delivery. We look forward to continuing to advance this technology and other promising pipeline candidates through collaborations and other potential strategic opportunities."
Operational Highlights
INO-3107 – Recurrent Respiratory Papillomatosis (RRP)
- Made significant progress toward submitting the BLA by completing the drafting of all non-device modules and resolving the previously announced manufacturing issue involving the single-use array component of the CELLECTRA device and enabling the final step of FDA-required device verification (DV) testing.
- Reported data from a retrospective trial (RRP-002) showing that patients continued to improve into years two and three following their initial dosing regimen when compared to their response at Week 52. In the trial, one-half of RRP patients treated with INO-3107 achieved a complete response (CR) and required no surgery in the second 12-month period when evaluated at the end of year two.
- Published and presented the full safety and efficacy data for the Phase 1/2 trial, as well as new immunology data demonstrating the ability of INO-3107 to induce antigen-specific T cell responses against HPV-6 and HPV-11 and drive recruitment of those T cells into airway tissues and papilloma of RRP patients, which could potentially slow or eliminate papilloma regrowth. This data was published in Nature Communications in February 2025.
- The European Medicines Agency's Committee for Advanced Therapies (CAT) certified the quality and non-clinical data for INO-3107, confirming that CMC data and nonclinical results available to date comply with the scientific and technical standards to be used in evaluating a potential European Marketing Authorization Application.
- INO-3107 was designated an innovative medicine as part of the
U.K.'s Innovative Licensing and Access Pathway (ILAP). - Progressed commercial readiness plans, including refining go-to-market strategy focused on patient and physician needs; driving key strategic decisions on pricing and access, product distribution, targeting and segmentation, and product positioning; and developing plans for the build out of the commercial organization.
Next Steps:
- Complete FDA-required design-verification testing - anticipated to be complete in first half of 2025.
- Update IND and initiate confirmatory trial.
- Submit BLA to the FDA – anticipate beginning rolling submission process mid-2025 and requesting priority review with goal of completing submission in second half of 2025 and receiving FDA acceptance of submission by year end.
- Submit a long-term study protocol to the FDA following BLA submission.
- Present and publish clinical, immunology and durability data at targeted scientific and medical conferences in 2025.
INO-3112 - Oropharyngeal Squamous Cell Carcinoma (OPSCC)
- Advanced development plans for a Phase 3 trial for INO-3112 in combination with LOQTORZI® (toripalimab-tpzi), a recently approved PD-1 inhibitor in the
U.S. andEurope . - Gained alignment with FDA on the planned Phase 3 trial design and received initial feedback from European regulatory authorities on proposed trial design.
- Entered into a clinical collaboration and supply agreement with Coherus BioSciences, Inc. for the use of LOQTORZI in the trial.
Next Steps:
- Finalize protocol of the Phase 3 trial in consultation with the FDA. INOVIO anticipates it will conduct the trial in
North America andEurope in patients with locoregionally advanced, high-risk, HPV16/18-positive OPSCC. - Complete ongoing manufacture of drug supply for trial.
Other Pipeline Updates
- Top-line interim results were announced from an ongoing Phase 1 proof-of-concept trial evaluating DMAbs targeting COVID-19. In the trial,
100% (24/24) of participants who reached week 72 maintained biologically relevant levels of DMAbs, confirming the durability of in vivo antibody production. Notably, no participant developed anti-drug antibodies, a common challenge observed in other gene-based delivery platforms, such as adeno-associated virus mediated antibody expression. Additionally, the DMAbs were well tolerated in the trial, with the most common side effects being mild, temporary injection site reactions, such as pain and redness. The trial is being led by The Wistar Institute in collaboration with INOVIO, AstraZeneca, and the University ofPennsylvania and funded by the Defense Advanced Research Projects Agency (DARPA) and the Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND). INOVIO and its partners anticipate additional data to be presented at upcoming scientific conferences and published in a peer-reviewed journal. - Advanced development plans for a Phase 2 trial for INO-4201 as a potential booster to ERVEBO® (rVSV-ZEBOV), including gaining alignment with FDA on the trial's protocol and path to potential approval. In 2025, the company anticipates finalizing the trial protocols and seeking funding to support trial activities. INOVIO also plans to submit the data from its completed Phase 1b trial to a peer-reviewed publication for publication, including FANG assay data indicating that boosting with INO-4201 can elicit neutralizing antibody response comparable to that achieved by ERVEBO, an approved primary series vaccination against Ebola.
- Continued efforts to move INO-5401 into its next stage of development for glioblastoma (GBM), which the company believes will be a controlled Phase 2 trial. INOVIO plans on completing manufacture of drug supply for the next trial during 2025.
- The Basser Center at the University of
Pennsylvania continues evaluating the tolerability and immunogenicity of INO-5401 in a fully enrolled Phase 1 study exploring the potential to prevent cancer in people with BRCA1 or BRCA2 mutations. - INOVIO's collaborator, ApolloBio, continues recruitment into its Phase 3 trial evaluating INO-3100 as a potential treatment for HPV 16/18 positive cervical dysplasia in
China .
Operational and Financial Updates
- Announced appointment of Steven Egge as Chief Commercial Officer in July 2024. Mr. Egge has broad commercial and therapeutic area experience, including in HPV-related diseases and cancers, vaccines and rare diseases, and has overseen or contributed to more than a dozen commercial product launches throughout his career.
- Raised over
$72 million
2024 Financial Results
- Cash, Cash Equivalents and Short-term Investments: As of December 31, 2024, cash, cash equivalents and short-term investments were
$94.1 million $145.3 million - Revenues: Total revenues were
$117,000 $218,000 $103,000 $832,000 - Research and Development (R&D) Expenses: R&D expenses for the quarter and year ended December 31, 2024 were
$12.9 million $75.6 million $17.3 million $86.7 million - General and Administrative (G&A) Expenses: G&A expenses were
$7.6 million $37.0 million $10.2 million $47.6 million - Total Operating Expenses: Total operating expenses were
$20.5 million $112.6 million $27.5 million $144.8 million - Net Loss: INOVIO's net loss for the quarter and year ended December 31, 2024 was
$19.4 million $0.65 $107.3 million $3.95 $25.0 million $1.10 $135.1 million $6.09 - Shares Outstanding: As of December 31, 2024, INOVIO had 36.1 million common shares outstanding and 50.0 million common shares outstanding on a fully diluted basis, after giving effect to the exercise, vesting, and conversion, as applicable, of its outstanding common stock warrants, pre-funded warrants, stock options, restricted stock units and convertible preferred stock.
INOVIO's balance sheet and statement of operations are provided below. Additional information is included in INOVIO's annual report on Form 10-K for the year ended December 31, 2024, which can be accessed at: http://ir.inovio.com/financials/default.aspx.
Cash Guidance
INOVIO estimates its current cash, cash equivalents and short-term investments balances to support the company's operations into the first quarter of 2026. This projection includes an operational net cash burn estimate of approximately
Conference Call / Webcast Information
INOVIO's management will host a live conference call and webcast with slides at 4:30 p.m. ET today to discuss INOVIO's financial results and provide a general business update. The live webcast and replay may be accessed by visiting INOVIO's website at http://ir.inovio.com/events-and-presentations/default.aspx.
About INOVIO's DNA Medicines Platform
INOVIO's DNA medicines platform has two innovative components: precisely designed DNA plasmids, delivered by INOVIO's proprietary investigational medical device, CELLECTRA®. INOVIO uses proprietary technology to design its DNA plasmids, which are small circular DNA molecules that work like software the body's cells can download to produce specific proteins to target and fight disease. INOVIO's proprietary CELLECTRA® delivery devices are designed to optimally deliver its DNA medicines to the body's cells without requiring chemical adjuvants or lipid nanoparticles and without the risk of the anti-vector response historically seen with viral vector platforms.
About INOVIO
INOVIO is a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases. INOVIO's technology optimizes the design and delivery of innovative DNA medicines that teach the body to manufacture its own disease-fighting tools. For more information, visit www.inovio.com.
Forward-Looking Statements
This press release contains certain forward-looking statements relating to our business, including the planned initiation and conduct of pre-clinical studies and clinical trials and the availability and timing of data from those studies and trials, the completion of the FDA-required device verification testing, the planned submission of a BLA in mid-2025 and request for priority review and goal of FDA's acceptance of the submission by the end of 2025, the potential commercial launch of INO-3107 if regulatory approval is obtained, the potential benefits of our product candidates and the expected sufficiency of our cash resources into the first quarter of 2026. Actual events or results may differ from the expectations set forth herein as a result of a number of factors, including uncertainties inherent in pre-clinical studies, clinical trials, product development programs and commercialization activities and outcomes, the availability of funding to support continuing research and studies in an effort to prove safety and efficacy of electroporation technology as a delivery mechanism or develop viable DNA medicines, our ability to support our pipeline of DNA medicine products, the ability of our collaborators to attain development and commercial milestones for products we license and product sales that will enable us to receive future payments and royalties, the adequacy of our capital resources, the availability or potential availability of alternative therapies or treatments for the conditions targeted by us or collaborators, including alternatives that may be more efficacious or cost effective than any therapy or treatment that we and our collaborators hope to develop, issues involving product liability, issues involving patents and whether they or licenses to them will provide us with meaningful protection from others using the covered technologies, whether such proprietary rights are enforceable or defensible or infringe or allegedly infringe on rights of others or can withstand claims of invalidity and whether we can finance or devote other significant resources that may be necessary to prosecute, protect or defend them, the level of corporate expenditures, assessments of our technology by potential corporate or other partners or collaborators, capital market conditions, the impact of government healthcare proposals and other factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings we make from time to time with the Securities and Exchange Commission. There can be no assurance that any product candidate in our pipeline will be successfully developed, manufactured, or commercialized, that the results of clinical trials will be supportive of regulatory approvals required to market products, or that any of the forward-looking information provided herein will be proven accurate. Forward-looking statements speak only as of the date of this release, and we undertake no obligation to update or revise these statements, except as may be required by law.
Contacts
Media: Jennie Willson, (267) 429-8567, communications@inovio.com
Investors: Peter Vozzo, ICR Healthcare, 443-213-0505, investor.relations@inovio.com
Inovio Pharmaceuticals, Inc. | |||
CONSOLIDATED BALANCE SHEETS | |||
December 31, | |||
2024 | 2023 | ||
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | |||
Short-term investments | 28,300,232 | 130,982,913 | |
Accounts receivable from affiliated entities | 1,199,056 | 2,405,228 | |
Prepaid expenses and other current assets, including with affiliated entity | 2,517,465 | 5,414,097 | |
Total current assets | 97,830,050 | 153,113,100 | |
Fixed assets, net | 3,659,818 | 4,960,986 | |
Investments in affiliated entity | 1,613,844 | 2,780,287 | |
Operating lease right-of-use assets | 8,113,840 | 9,491,735 | |
Other assets | 1,979,654 | 605,315 | |
Total assets | |||
LIABILITIES AND STOCKHOLDERS' EQUITY | |||
Current liabilities: | |||
Accounts payable and accrued expenses | |||
Accounts payable and accrued expenses due to affiliated entities | 1,351,163 | 1,070,519 | |
Accrued clinical trial expenses | 2,021,860 | 2,365,382 | |
Common stock warrant liability | 13,255,188 | — | |
Operating lease liability | 2,497,360 | 2,406,522 | |
Grant funding liability, including from affiliated entity | — | 109,407 | |
Convertible senior notes | — | 16,770,654 | |
Total current liabilities | 35,325,584 | 42,570,228 | |
Operating lease liability, net of current portion | 9,367,827 | 11,032,066 | |
Total liabilities | 44,693,411 | 53,602,294 | |
Commitments and contingencies | |||
Inovio Pharmaceuticals, Inc. stockholders' equity: | |||
Preferred stock—par value | — | — | |
Common stock—par value | 36,099 | 22,792 | |
Additional paid-in capital | 1,799,362,625 | 1,740,954,074 | |
Accumulated deficit | (1,730,219,262) | (1,622,965,136) | |
Accumulated other comprehensive loss | (675,667) | (662,601) | |
Total Inovio Pharmaceuticals, Inc. stockholders' equity | 68,503,795 | 117,349,129 | |
Total liabilities and stockholders' equity | |||
Inovio Pharmaceuticals, Inc. | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
For the Year ended December 31, | |||
2024 | 2023 | ||
Revenue from collaborative arrangements and other contracts, including | |||
Operating expenses: | |||
Research and development | 75,620,340 | 86,676,563 | |
General and administrative | 36,996,338 | 47,582,104 | |
Impairment of goodwill | — | 10,513,371 | |
Total operating expenses | 112,616,678 | 144,772,038 | |
Loss from operations | (112,398,922) | (143,940,028) | |
Other income (expense): | |||
Interest income | 4,766,993 | 8,133,290 | |
Interest expense | (177,833) | (1,222,789) | |
Change in fair value of common stock warrant liability | 2,808,608 | — | |
(Loss) gain on investment in affiliated entity | (1,166,443) | 773,145 | |
Net unrealized gain on available-for-sale equity securities | 2,077,182 | 5,850,626 | |
Other expense, net | (3,163,711) | (4,711,596) | |
Net loss | |||
Net loss per share | |||
Basic and diluted | |||
Weighted average number of common shares outstanding | |||
Basic and diluted | 27,160,863 | 22,173,662 | |
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SOURCE INOVIO Pharmaceuticals, Inc.
FAQ
What are the key financial results for INOVIO (INO) in Q4 and full-year 2024?
When will INOVIO submit the BLA for INO-3107 RRP treatment?
What were the clinical results for INO-3107 in RRP patients?
How long will INOVIO's current cash position last?
What were the results of INOVIO's DMAb COVID-19 trial?
