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Dec 31, 2020
Inovio Q4 2020 Earnings Report
Inovio reported financial results and provided a business update.
Key Takeaways
Inovio reported Q4 2020 financial results, with a total revenue of $5.6 million and a net loss of $24.3 million, or $0.14 per share. The company highlighted progress in its HPV and oncology programs, including positive results from the REVEAL 1 Phase 3 clinical trial for VGX-3100 and advancements in its COVID-19 vaccine program.
VGX-3100 REVEAL 1 Phase 3 clinical trial met primary and secondary endpoints among all evaluable subjects.
Completed enrollment of 400 subjects in the Phase 2 segment of the INNOVATE Phase 2/3 clinical trial for INO-4800.
Addressed new COVID variants by evaluating their impact on the immune profile of INO-4800 and developing next-generation vaccine candidates.
Phase 1 clinical data from INO-4800 was published in The Lancet’s EClinicalMedicine.
Forward Guidance
INOVIO is focused on advancing its DNA medicines platform across HPV-associated diseases, cancer, and infectious diseases. The company is committed to completing its Phase 2 segment in the second quarter and seeking to advance to the Phase 3 portion of the trial.
Positive Outlook
- VGX-3100 met primary and secondary endpoints in REVEAL 1 trial.
- INO-4800 Phase 1 data published in The Lancet’s EClinicalMedicine.
- INOVIO is developing next-generation, pan-COVID vaccine candidates.
- INOVIO received a $37.6 million grant from DARPA to develop anti-SARS-CoV-2-specific dMAbs®
- INOVIO is evaluating the impact of newly circulating strains of the SARS-CoV-2 virus on the immune profile of INO-4800
Challenges Ahead
- Uncertainties inherent in pre-clinical studies and clinical trials.
- Ability to secure sufficient manufacturing capacity.
- Availability of funding to support continuing research and studies.
Historical Earnings Impact
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