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Jun 30, 2024
Inovio Q2 2024 Earnings Report
INOVIO's financial results for Q2 2024 were announced, and recent company developments were updated.
Key Takeaways
INOVIO reported a net loss of $32.2 million for the second quarter of 2024, with cash, cash equivalents, and short-term investments totaling $110.4 million as of June 30, 2024. The company is facing manufacturing issues with its CELLECTRA® device, delaying the BLA submission for INO-3107 to mid-2025.
INOVIO anticipates submitting its BLA for INO-3107 in mid-2025 due to device manufacturing issues.
Phase 3 clinical plans for INO-3112 were submitted to European regulatory authorities.
INOVIO anticipates resubmitting Phase 2 clinical plans for INO-4201 to the FDA in the third quarter.
Steve Egge was appointed as Chief Commercial Officer.
Inovio
Inovio
Inovio Revenue by Segment
Revenue by Segment
Collaboration Revenue
CapyFin.com Forward Guidance
INOVIO estimates its cash runway to extend into the third quarter of 2025, which includes an operational net cash burn estimate of approximately $28 million for the third quarter of 2024.
Positive Outlook
- Cash runway extends into the third quarter of 2025.
- Focus on advancing INO-3107 for RRP treatment.
- Plans to submit BLA for INO-3107 remain in place.
- Progress in Phase 3 clinical plans for INO-3112.
- Resubmission of Phase 2 clinical plans for INO-4201 anticipated.
Challenges Ahead
- Manufacturing issue with CELLECTRA® device delaying BLA submission.
- BLA submission for INO-3107 now anticipated in mid-2025.
- Operational net cash burn estimated at $28 million for Q3 2024.
- Uncertainties in clinical trials and product development.
- Dependence on third parties and capital market conditions.