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Jun 30, 2022
Inovio Q2 2022 Earnings Report
INOVIO's financial results for the second quarter of 2022 were reported, including revenue of $784,000 and a net loss of $108.5 million.
Key Takeaways
INOVIO reported a revenue of $784,000 for the second quarter of 2022, an increase from $273,000 in the same period of 2021. The net loss for the quarter was $108.5 million, compared to a net loss of $82.1 million for the quarter ended June 30, 2021.
Extended cash runway into the third quarter of 2024 through cost-savings and corporate restructuring efforts.
Strengthened executive team with the appointment of Dr. Michael Sumner as Chief Medical Officer.
Announced positive data from a Phase 1/2 trial with INO-5401 to treat Glioblastoma (GBM) at the American Society of Clinical Oncology (ASCO) Annual Meeting.
INOVIO's corporate reorganization included an 18% workforce reduction.
Inovio
Inovio
Forward Guidance
INOVIO projects to extend its cash runway into the third quarter 2024 and expects cash burn will decrease incrementally from there into the third quarter of 2024.