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Jun 30, 2025
Inovio Q2 2025 Earnings Report
Inovio reported a narrower net loss in Q2 2025 as operating expenses declined and it advanced its BLA submission plans for INO-3107.
Key Takeaways
Inovio reduced its net loss to $23.5M in Q2 2025 as R&D and G&A expenses declined. While revenue remained at zero, the company continued to focus on progressing INO-3107 towards regulatory submission and bolstered its cash position with a $22.5M capital raise in July.
Net loss decreased to $23.5M from $32.2M YoY
EPS improved to ($0.61) from ($1.19) YoY
Cash and short-term investments totaled $47.5M as of June 30, 2025
INO-3107 BLA submission remains on track for 2H25
Forward Guidance
Inovio expects its cash resources, including July's offering proceeds, to fund operations into Q2 2026, as it focuses spending on advancing INO-3107.
Positive Outlook
- On track to submit INO-3107 BLA in 2H25
- Requested rolling BLA submission with FDA
- Successful completion of CELLECTRA 5PSP DV testing
- Positive data published from RRP-002 study
- Net proceeds of $22.5M raised in July 2025
Challenges Ahead
- Revenue remained at $0 for the quarter
- Cash and investments declined to $47.5M from $94.1M in December 2024
- Operating loss of $23.1M for the quarter
- Common stock warrant liability at $11.4M
- Expected $22M cash burn in Q3 2025
Historical Earnings Impact
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Avg. Return Before/After Earnings
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