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Mar 31, 2024
Inovio Q1 2024 Earnings Report
INOVIO's financial results for Q1 2024 were announced, highlighting progress in clinical trials and strategic priorities.
Key Takeaways
INOVIO reported a net loss of $30.5 million for the first quarter of 2024. The company is on track to submit its BLA for INO-3107 in the second half of 2024 and is advancing plans for a Phase 3 trial of INO-3112. INOVIO's cash runway is projected into the third quarter of 2025.
BLA submission for INO-3107 is on track for the second half of 2024.
Planning to initiate a confirmatory trial for INO-3107 based on FDA feedback.
Advancing plans for a Phase 3 trial of INO-3112 in combination with LOQTORZI for OPSCC based on FDA feedback.
Balance sheet strengthened with an underwritten offering completed in April 2024.
Inovio
Inovio
Forward Guidance
INOVIO estimates its cash runway to extend into the third quarter of 2025, including the net proceeds from the April 2024 offering. The company projects an operational net cash burn of approximately $30 million for the second quarter of 2024.
Positive Outlook
- BLA submission on track for INO-3107 in the second half of 2024
- Planning initiation of confirmatory trial for INO-3107 based on FDA feedback
- Advancing plans for Phase 3 trial of INO-3112 in combination with LOQTORZITM (toripalimab-tpzi) as a potential treatment for oropharyngeal squamous cell carcinoma (OPSCC) based on FDA feedback
- Balance sheet strengthened with underwritten offering of common stock and pre-funded warrants completed in April 2024
- Cash runway projected into third quarter of 2025