INOVIO Pharmaceuticals Files Q3 2024 10-Q

TL;DR

INOVIO dropped its Q3 10-Q, check financials.

AI Summary

INOVIO Pharmaceuticals, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial position and operational updates. Key financial figures and operational highlights from the third quarter of 2024 are presented, reflecting the company's ongoing activities in the pharmaceutical sector.

Why It Matters

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

Risk Assessment

Risk Level: medium — As a pharmaceutical company, INOVIO faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Players & Entities

• INOVIO PHARMACEUTICALS, INC. (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241114 (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-20240930.htm (10-Q) — 1342KB
• ino-93024x10qex311.htm (EX-31.1) — 9KB
• ino-9302410qex312.htm (EX-31.2) — 10KB
• ino-93024x10qex321.htm (EX-32.1) — 8KB
• ino-20240930_g1.jpg (GRAPHIC) — 449KB
• 0001055726-24-000052.txt ( ) — 7901KB
• ino-20240930.xsd (EX-101.SCH) — 46KB
• ino-20240930_cal.xml (EX-101.CAL) — 62KB
• ino-20240930_def.xml (EX-101.DEF) — 234KB
• ino-20240930_lab.xml (EX-101.LAB) — 582KB
• ino-20240930_pre.xml (EX-101.PRE) — 407KB
• ino-20240930_htm.xml (XML) — 865KB

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 30

Controls and Procedures

Item 4. Controls and Procedures 30

Other Information

Part II. Other Information 32

Legal Proceedings

Item 1. Legal Proceedings 32

Risk Factors

Item 1A. Risk Factors 32

Other Information

Item 5. Other Information 59

Exhibits

Item 6. Exhibits 59

Signatures

Signatures 61 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 September 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 21,687,480 $ 14,310,862 Short-term investments 63,117,288 130,982,913 Accounts receivable from affiliated entities 1,862,739 2,405,228 Prepaid expenses and other current assets 4,617,116 5,393,665 Prepaid expenses and other current assets from affiliated entity — 20,432 Total current assets 91,284,623 153,113,100 Fixed assets, net 4,091,562 4,960,986 Investment in affiliated entity 2,644,226 2,780,287 Operating lease right-of-use assets 8,472,848 9,491,735 Other assets 566,415 605,315 Total assets $ 107,059,674 $ 170,951,423 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued expenses $ 14,743,191 $ 19,847,744 Accounts payable and accrued expenses due to affiliated entity 1,834,266 1,070,519 Accrued clinical trial expenses 4,496,568 2,365,382 Operating lease liability 2,425,112 2,406,522 Grant funding liability — 87,489 Grant funding liability from affiliated entity — 21,918 Convertible senior notes — 16,770,654 Total current liabilities 23,499,137 42,570,228 Operating lease liability, net of current portion 10,020,227 11,032,066 Total liabilities 33,519,364 53,602,294 Stockholders' equity: Preferred stock — — Common stock 26,051 22,792 Additional paid-in capital 1,784,975,303 1,740,954,074 Accumulated deficit ( 1,710,837,583 ) ( 1,622,965,136 ) Accumulated other comprehensive loss ( 623,461 ) ( 662,601 ) Total Inovio Pharmaceuticals, Inc. stockholders' equity 73,540,310 117,349,129 Total liabilities and stockholders' equity $ 107,059,674 $ 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 September 30, Nine Months Ended September 3

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View this 10-Q filing on SEC EDGAR