INOVIO PHARMACEUTICALS, INC. Files 2023 Annual Report on Form 10-K

TL;DR

<b>INOVIO PHARMACEUTICALS, INC. has filed its annual report for the fiscal year ended December 31, 2023, providing a comprehensive overview of its financial performance and business operations.</b>

AI Summary

INOVIO PHARMACEUTICALS, INC. (INO) filed a Annual Report (10-K) with the SEC on March 6, 2024. INOVIO PHARMACEUTICALS, INC. filed its 2023 Form 10-K on March 6, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 6769 MESA RIDGE RD., SAN DIEGO, CA 92121. The company was formerly known as INOVIO BIOMEDICAL CORP. The filing includes financial data for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking INOVIO PHARMACEUTICALS, INC., this filing contains several important signals. This 10-K filing provides investors with the most up-to-date financial statements and management's discussion and analysis for the fiscal year 2023, crucial for assessing the company's performance and future prospects. The detailed financial information and risk factors disclosed in this annual report are essential for investors to make informed decisions regarding their investment in INOVIO PHARMACEUTICALS, INC.

Risk Assessment

Risk Level: medium — INOVIO PHARMACEUTICALS, INC. shows moderate risk based on this filing. The company's financial performance and ability to continue as a going concern are subject to significant risks, as indicated by the need for substantial future financing and the ongoing nature of clinical trials.

Analyst Insight

Investors should carefully review the financial statements and risk factors in the 10-K to understand INOVIO's financial health and its ability to fund future operations and development.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-06 — Filing Date (Date of submission)
• 2023 — Fiscal Year (Year covered by the report)
• 2022 — Prior Fiscal Year (Comparative financial data)
• 2021 — Prior Fiscal Year (Comparative financial data)

Key Players & Entities

• INOVIO PHARMACEUTICALS, INC. (company) — Filer name
• INOVIO BIOMEDICAL CORP (company) — Former company name
• GENETRONICS BIOMEDICAL CORP (company) — Former company name
• GENETRONICS BIOMEDICAL LTD (company) — Former company name
• 6769 MESA RIDGE RD. (address) — Business address
• SAN DIEGO, CA 92121 (address) — Business address

FAQ

Industry Context

INOVIO PHARMACEUTICALS operates in the biotechnology sector, focusing on the development of DNA-based vaccines and therapies.

Regulatory Implications

The company is subject to regulatory oversight by the U.S. Securities and Exchange Commission (SEC) for its public filings, including this 10-K.

What Investors Should Do

1. Review the detailed financial statements for fiscal year 2023.
2. Analyze the risk factors section for potential investment risks.
3. Compare 2023 financial performance against prior years (2021, 2022).

Key Dates

• 2024-03-06: 10-K Filing — Annual report submission for fiscal year 2023
• 2023-12-31: Fiscal Year End — End date of the reporting period

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.001 — ange on Which Registered COMMON STOCK, $0.001 PAR VALUE INO Nasdaq Global Select Mark
• $5.40 — approximately $ 119.7 million based on $5.40 per share, the closing price on that da

Filing Documents

• ino-20231231.htm (10-K) — 2063KB
• ino-12312023x10kex1011.htm (EX-10.11) — 20KB
• ino-123123x10kex1017.htm (EX-10.17) — 126KB
• ino-123123x10kex1018.htm (EX-10.18) — 19KB
• ino-123123x10kex1019.htm (EX-10.19) — 19KB
• ino-123123x10kex1020.htm (EX-10.20) — 19KB
• ino-12312023x10kex211.htm (EX-21.1) — 3KB
• ino-12312023x10kex231.htm (EX-23.1) — 5KB
• ino-12312023x10kex311.htm (EX-31.1) — 11KB
• ino-12312023x10kex312.htm (EX-31.2) — 11KB
• ino-12312023x10kex321.htm (EX-32.1) — 8KB
• ino-12312023x10kex971.htm (EX-97.1) — 44KB
• ino-20231231_g1.jpg (GRAPHIC) — 449KB
• ino-20231231_g2.jpg (GRAPHIC) — 113KB
• ino-20231231_g3.jpg (GRAPHIC) — 85KB
• ino-20231231_g4.jpg (GRAPHIC) — 151KB
• ino-20231231_g5.jpg (GRAPHIC) — 124KB
• 0001055726-24-000011.txt (&nbsp;) — 12873KB
• ino-20231231.xsd (EX-101.SCH) — 67KB
• ino-20231231_cal.xml (EX-101.CAL) — 103KB
• ino-20231231_def.xml (EX-101.DEF) — 367KB
• ino-20231231_lab.xml (EX-101.LAB) — 866KB
• ino-20231231_pre.xml (EX-101.PRE) — 607KB
• ino-20231231_htm.xml (XML) — 1458KB

RISK FACTORS

ITEM 1A. RISK FACTORS 23

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 51

C . CYBERSECURITY

ITEM 1 C . CYBERSECURITY 51

PROPERTIES

ITEM 2. PROPERTIES 52

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 52

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 54 PART II 55

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 55

[RESERVED]

ITEM 6. [RESERVED] 56

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 57

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 63

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 64

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 64

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 64

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 7 3

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 73 PART III 67

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 67

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 67

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 67

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 67

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 67 PART IV 68

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 68

FORM 10-K SUMMARY

ITEM 16. FORM 10-K SUMMARY 71

SIGNATURES

SIGNATURES 72 CONSOLIDATED FINANCIAL STATEMENTS F- 1 1 PART I

BUSINESS

ITEM 1. BUSINESS This Annual Report on Form 10-K (including the following section regarding Management's Discussion and Analysis of Financial Condition and Results of Operations), or this Annual Report, contains forward-looking statements regarding our business, financial condition, results of operations and prospects. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this Annual Report. Additionally, statements concerning future matters, including statements regarding our business, our financial position, the research and development of our products and other statements regarding matters that are not historical are forward-looking statements. Although forward-looking statements in this Annual Report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include without limitation those discussed under the heading "Risk Factors" below, as well as those discussed elsewhere in this Annual Report. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this Annual Report. We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this Annual Report. Readers are urged to carefully review and consider the various disclosures made in this Annual Report, which attempt to advise interested parties of the ri

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