INOVIO Pharmaceuticals Files Q2 2024 10-Q

TL;DR

INOVIO's Q2 10-Q shows continued net losses, standard for biotech development.

AI Summary

INOVIO Pharmaceuticals, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported a net loss for the three and six months ended June 30, 2024, and 2023. Specific financial figures for revenue, net loss, and cash flow from operations are detailed within the filing, reflecting the company's ongoing operational and financial status.

Why It Matters

This filing provides investors and stakeholders with the latest financial performance and operational updates for INOVIO Pharmaceuticals, crucial for assessing the company's current health and future prospects.

Risk Assessment

Risk Level: medium — Biotechnology companies often face high risks due to the nature of drug development, regulatory hurdles, and market competition.

Key Numbers

• N/A — Revenue (Specific revenue figures for the quarter and year-to-date are detailed in the full filing.)
• N/A — Net Loss (The filing details net losses for the periods ending June 30, 2024, and 2023.)
• N/A — Cash Flow from Operations (Operational cash flow details are provided in the financial statements within the 10-Q.)

Key Players & Entities

• INOVIO PHARMACEUTICALS, INC. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240808 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — ange on Which Registered COMMON STOCK, $0.001 PAR VALUE INO Nasdaq Capital Market I

Filing Documents

• ino-20240630.htm (10-Q) — 1272KB
• ino-63024x10qex311.htm (EX-31.1) — 9KB
• ino-6302410qex312.htm (EX-31.2) — 10KB
• ino-63024x10qex321.htm (EX-32.1) — 8KB
• ino-20240630_g1.jpg (GRAPHIC) — 449KB
• 0001055726-24-000046.txt ( ) — 7711KB
• ino-20240630.xsd (EX-101.SCH) — 44KB
• ino-20240630_cal.xml (EX-101.CAL) — 61KB
• ino-20240630_def.xml (EX-101.DEF) — 225KB
• ino-20240630_lab.xml (EX-101.LAB) — 575KB
• ino-20240630_pre.xml (EX-101.PRE) — 396KB
• ino-20240630_htm.xml (XML) — 842KB

Financial Information

Part I. Financial Information 1

Financial Statements

Item 1. Financial Statements 1 a) Condensed Consolidated Balance Sheets 2 b) Condensed Consolidated Statements of Operations 3 c) Condensed Consolidated Statements of Comprehensive Loss 4 d) Condensed Consolidated Statements of Stockholders' Equity 5 e) Condensed Consolidated Statements of Cash Flows 7 f) Notes to Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 29

Controls and Procedures

Item 4. Controls and Procedures 30

Other Information

Part II. Other Information 31

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 31

Other Information

Item 5. Other Information 58

Exhibits

Item 6. Exhibits 58

Signatures

Signatures 60 SUMMARY OF THE MATERIAL RISKS ASSOCIATED WITH OUR BUSINESS Our business is subject to a number of risks, including risks that may prevent us from achieving our business objectives or may adversely affect our business, financial condition, results of operations, cash flows and prospects. These risks are discussed more fully in Item 1A. Risk Factors herein. These risk factors include, but are not limited to, the following: We have incurred significant losses in recent years, expect to incur significant net losses in the foreseeable future and may never become profitable. We have limited sources of revenue and our success is dependent on our ability to develop our DNA medicines and proprietary device technology. We will need substantial additional capital to develop our DNA medicines and proprietary device technology, which may prove difficult or costly to obtain. If we are unable to obtain FDA approval of our proprietary devices and DNA medicine candidates, we will not be able to commercialize them in the United States. In particular, because our product candidates are drug-device combination products comprising an electroporation device for delivery of a biologic, additional time may be required to obtain regulatory approval for our product candidates because of the complexity involved with developing and manufacturing a drug-device combination product. In addition, if the FDA and similar regulatory agencies do not provide marketing authorization for our CELLECTRA delivery devices, then we will not be able to bring to market our DNA medicines that rely on delivery by such a device. DNA medicines are a novel approach to treating and preventing disease, and our CELLECTRA delivery devices are a novel approach to administering medicines, and negative perception of the efficacy, safety, or tolerability of any investigational medicines we develop or our devices could adversely affect our ability to conduct our business, advance our investigational m

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements 1 INOVIO PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 34,392,404 $ 14,310,862 Short-term investments 76,029,116 130,982,913 Accounts receivable from affiliated entities 1,773,665 2,405,228 Prepaid expenses and other current assets 5,365,860 5,393,665 Prepaid expenses and other current assets from affiliated entities — 20,432 Total current assets 117,561,045 153,113,100 Fixed assets, net 4,510,869 4,960,986 Investment in affiliated entity 2,319,975 2,780,287 Operating lease right-of-use assets 8,819,399 9,491,735 Other assets 585,915 605,315 Total assets $ 133,797,203 $ 170,951,423 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 16,634,761 $ 19,847,744 Accounts payable and accrued expenses due to affiliated entity 1,921,457 1,070,519 Accrued clinical trial expenses 5,499,648 2,365,382 Operating lease liability 2,321,984 2,406,522 Grant funding liability — 87,489 Grant funding liability from affiliated entity 21,918 21,918 Convertible senior notes — 16,770,654 Total current liabilities 26,399,768 42,570,228 Operating lease liability, net of current portion 10,658,228 11,032,066 Total liabilities 37,057,996 53,602,294 Stockholders' equity: Preferred stock — — Common stock 25,962 22,792 Additional paid-in capital 1,783,074,886 1,740,954,074 Accumulated deficit ( 1,685,672,105 ) ( 1,622,965,136 ) Accumulated other comprehensive loss ( 689,536 ) ( 662,601 ) Total Inovio Pharmaceuticals, Inc. stockholders' equity 96,739,207 117,349,129 Total liabilities and stockholders' equity $ 133,797,203 $ 170,951,423 See accompanying notes to unaudited condensed consolidated financial statements. 2 INOVIO PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024

View Full Filing

View this 10-Q filing on SEC EDGAR