Loading...
•
Sep 30, 2022
Inovio Q3 2022 Earnings Report
INOVIO reported financial results for the third quarter of 2022.
Key Takeaways
INOVIO reported total revenue of $9.2 million for the three months ended September 30, 2022, compared to $292,000 for the same period in 2021. The net loss for the quarter ended September 30, 2022, was $37.8 million, or $0.15 per basic and diluted share, compared to net loss of $60.2 million, or $0.29 per basic and diluted share, for the quarter ended September 30, 2021.
Announced positive interim data for INO-3107 as a potential first-in-class treatment for Recurrent Respiratory Papillomatosis.
Advanced strategy to focus on developing candidates that have the greatest opportunity for near-term success.
Updated prior financial guidance and extends cash runway into first quarter of 2025.
Discontinued internally funded development of INO-4800 as a heterologous COVID-19 booster.
Forward Guidance
INOVIO expects its cash runway to extend into the first quarter of 2025. This projection includes its cash burn estimate of approximately $45 million for the fourth quarter of 2022 and its ongoing expectation that cash burn will decrease incrementally from there into the first quarter of 2025. These projections do not include any funds that may be raised through the Company’s existing at-the-market program or other capital-raising activities.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...