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Inovio Pharmaceuticals (INO)
NASDAQ:INO
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Inovio Pharmaceuticals
(NASDAQ:INO)
41Neutral
Positive Factors
Clinical Trial Results
Top-line results point to sustained and deepening responses, which are encouraging for eventual patient and payer uptake.
Regulatory Approval
INO-3107 has been granted Breakthrough Therapy designation for the treatment of recurrent respiratory papillomatosis (RRP) by the FDA.
Safety Profile
No treatment-emergent serious adverse events were identified in the trial, which increases confidence in the safety of INO-3107.
Negative Factors
Manufacturing and Device Issues
Management is confident it has resolved the stability/manufacturing issue with the Cellectra device, supporting likely BLA acceptance by YE for INO-3107 to treat recurrent respiratory papillomatosis (RRP).
Regulatory Requirements
The company also needs to update IND and initiate a confirmatory trial before the BLA submission.
Inovio Pharmaceuticals (INO) vs. S&P 500 (SPY)
Market Cap
$75.92M
Dividend YieldN/A
Average Volume (3M)549.25K
Price to Earnings (P/E)―
Beta (1Y)1.68
Revenue Growth-60.52%
EPS Growth42.41%
CountryUS
Employees134
SectorHealthcare
Sector Strength43
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.51
Shares Outstanding36,674,435
10 Day Avg. Volume552,822
30 Day Avg. Volume549,245
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)<0.01
Price to Sales (P/S)0.00
P/FCF Ratio>-0.01
Enterprise Value/Market Cap-376.33
Enterprise Value/Revenue-23.21K
Enterprise Value/Gross Profit20.60K
Enterprise Value/Ebitda1.12
Forecast
1Y Price Target
$8.25Price Target Upside287.32% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
Inovio Pharmaceuticals Business Overview & Revenue Model
Company DescriptionInovio Pharmaceuticals, Inc., a biotechnology company, focuses on the discovery, development, and commercialization of DNA medicines to treat and protect people from diseases associated with human papillomavirus (HPV), cancer, and infectious diseases. Its DNA medicines platform uses precisely designed SynCon that identify and optimize the DNA sequence of the target antigen, as well as CELLECTRA smart devices technology that facilitates delivery of the DNA plasmids. The company engages in conducting and planning clinical studies of its DNA medicines for HPV-associated precancers, including cervical, vulvar, and anal dysplasia; HPV-associated cancers, such as head and neck, cervical, anal, penile, vulvar, and vaginal; other HPV-associated disorders, including recurrent respiratory papillomatosis; glioblastoma multiforme; prostate cancer; HIV; Ebola; Middle East Respiratory Syndrome (MERS); and Lassa fever. Its partners and collaborators include ApolloBio Corp., AstraZeneca, Beijing Advaccine Biotechnology Co., Ltd., The Bill & Melinda Gates Foundation, Coalition for Epidemic Preparedness Innovations (CEPI), Defense Advanced Research Projects Agency (DARPA), Department of Defense (DoD), HIV Vaccines Trial Network, International Vaccine Institute, Kaneka Eurogentec, Medical CBRN Defense Consortium (MCDC), National Cancer Institute, National Institutes of Health, National Institute of Allergy and Infectious Diseases, Ology Bioservices, the Parker Institute for Cancer Immunotherapy, Plumbline Life Sciences, Regeneron Pharmaceuticals, Thermo Fisher Scientific, University of Pennsylvania, Walter Reed Army Institute of Research, and The Wistar Institute. The company has an agreement with Richter-Helm BioLogics GmbH & Co. KG to support investigational DNA vaccine INO-4800 for COVID-19; and a partnership with International Vaccine Institute and Seoul National University Hospital. The company was founded in 1979 and is headquartered in Plymouth Meeting, Pennsylvania.
How the Company Makes MoneyInovio Pharmaceuticals generates revenue primarily through collaborative research and development agreements, licensing of its intellectual property, and grants. The company partners with various government agencies, non-profit organizations, and pharmaceutical companies to advance its product pipeline, providing funding and resources in exchange for rights to commercialize successful products. Additionally, Inovio may receive milestone payments and royalties from its partners upon successful development and commercialization of its products. The company also participates in government and non-governmental grant programs, which support its research activities.
Inovio Pharmaceuticals Financial Statement Overview
Summary
Inovio Pharmaceuticals is facing significant financial challenges, characterized by persistent losses, negative cash flows, and lack of revenue growth. While the balance sheet shows a strong equity position, the lack of profitability and reliance on financing raise concerns about the company's financial health. Strategic changes may be necessary to improve operational efficiency and revenue generation.Income Statement
Inovio Pharmaceuticals exhibits a challenging financial position with consistent negative net income and EBIT over the years. The company shows no revenue growth and gross profit margins are negative, indicating cost management issues or insufficient revenue to cover costs. The absence of gross profit and negative EBIT margins reflect the company's ongoing struggle with profitability.10
Very Negative
Balance Sheet
The balance sheet reveals a relatively stable equity position with stockholders' equity being significantly higher than total debt, resulting in a low debt-to-equity ratio. However, the company has been heavily reliant on equity financing, as indicated by the substantial stockholders' equity compared to total assets. Despite the strong equity base, the company has not converted this into profitability or growth.30
Negative
Cash Flow
Cash flow analysis indicates a negative operating and free cash flow, showing difficulties in generating cash from operations. The company has relied on financing activities to sustain operations, which may not be sustainable long-term. The absence of positive free cash flow growth further highlights challenges in cash generation.20
Very Negative
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 217.76K | 217.76K | 832.01K | 10.26M | 1.77M | 7.41M | Gross Profit |
| -1.39M | -2.91M | -2.67M | 4.77M | -2.96M | -86.83M | EBIT |
| -25.13B | -112.40M | -143.94M | -267.57M | -301.22M | -124.08M | EBITDA |
| -25.12B | -103.95M | -130.39M | -270.90M | -296.56M | -149.56M | Net Income Common Stockholders |
| -44.91B | -107.25M | -135.12M | -287.66M | -305.38M | -215.09M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 68.36B | 94.11M | 145.29M | 253.00M | 401.31M | 411.64M | Total Assets |
| 87.27B | 113.20M | 170.95M | 348.53M | 495.94M | 539.77M | Total Debt |
| 11.27B | 11.87B | 30.21M | 32.07M | 33.02M | 39.05M | Net Debt |
| -28.64B | -53.95B | 15.90M | -14.25M | -38.12M | -211.68M | Total Liabilities |
| 36.02B | 44.69M | 53.60M | 126.17M | 96.27M | 78.63M | Stockholders Equity |
| 51.25B | 68.50B | 117.35M | 222.36M | 399.67M | 461.14M |
| Cash Flow | Free Cash Flow | ||||
| -111.28B | -104.56M | -124.69M | -217.18M | -216.94M | -179.50M | Operating Cash Flow |
| -111.28B | -104.08M | -124.37M | -216.22M | -215.71M | -177.98M | Investing Cash Flow |
| 69.36B | 104.07M | 87.36M | 109.59M | -175.34M | -58.80M | Financing Cash Flow |
| 1.09B | 51.48M | 5.00M | 81.84M | 211.50M | 465.28M |
Inovio Pharmaceuticals Technical Analysis
Positive
2.13
Price Trends
1.83
Positive
1.92
Positive
3.80
Negative
Market Momentum
0.06
Negative
66.07
Neutral
97.06
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INO, the sentiment is Positive. The current price of 2.13 is above the 20-day moving average (MA) of 1.91, above the 50-day MA of 1.83, and below the 200-day MA of 3.80, indicating a neutral trend. The MACD of 0.06 indicates Negative momentum. The RSI at 66.07 is Neutral, neither overbought nor oversold. The STOCH value of 97.06 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INO.
Inovio Pharmaceuticals Risk Analysis
Inovio Pharmaceuticals disclosed 58 risk factors in its most recent earnings report. Inovio Pharmaceuticals reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Inovio Pharmaceuticals Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
52 Neutral | $5.19B | 3.04 | -44.20% | 2.82% | 16.59% | -0.39% | |
43 Neutral | $100.00M | ― | -70.59% | ― | ― | 81.00% | |
41 Neutral | $75.92M | ― | -132.44% | ― | -60.52% | 42.41% | |
40 Underperform | $118.83M | ― | -62.38% | ― | 178.84% | -40.60% | |
39 Underperform | $73.45M | ― | -46.28% | ― | -33.00% | 54.91% | |
36 Underperform | $64.81M | ― | -55.68% | ― | ― | -57.45% | |
35 Underperform | $75.41M | ― | -101.34% | ― | ― | 21.40% |
* Healthcare Sector Average
Performance Comparison
INO
Inovio Pharmaceuticals
2.13
-9.12
-81.07%
SAVA
Cassava Sciences
2.24
-19.88
-89.87%
VTGN
VistaGen Therapeutics
2.63
-1.63
-38.26%
IFRX
InflaRx
1.77
0.14
8.59%
JSPR
Jasper Therapeutics
5.04
-18.78
-78.84%
ABOS
Acumen Pharmaceuticals
1.06
-2.54
-70.56%
Inovio Pharmaceuticals Earnings Call Summary
Earnings Call Date:May 13, 2025
(Q1-2025)
| % Change Since: 10.94%|
Next Earnings Date:Aug 06, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted significant progress towards submitting the BLA for INO-3107, resolution of manufacturing issues, publication of key data, and promising interim results for DMAb technology. However, financial challenges were noted with a decrease in cash and a reported net loss. Overall, the call presents a balanced outlook with important achievements countered by financial concerns.Q1-2025 Updates
Positive Updates
Progress Towards BLA Submission for INO-3107
Inovio remains on track to submit their BLA for INO-3107 for treating recurrent respiratory papillomatosis (RRP) with rolling submission in mid-2025 and completion by the end of the year. They aim for a PDUFA date in mid-2026 if priority review is granted.
Manufacturing Issue Resolved
The manufacturing issue involving the single-use array component of the CELLECTRA device has been resolved, and device design verification testing has begun.
Publication of Key Data
Clinical and immunology data from the Phase 1/2 trial of INO-3107 was published in Nature Communications in February.
Positive Interim Results for DMAb Technology
Promising interim results from a Phase 1 proof-of-concept trial evaluating DNA-Encoded Monoclonal Antibodies (DMAbs) were announced, showing sustained antibody production for COVID-19.
Market Opportunity and Commercial Readiness
Inovio's ongoing market research supports the potential of INO-3107 as the preferred product for RRP patients and physicians, with a significant market opportunity due to the lack of existing therapeutic options.
Reduction in Operating Expenses
Operating expenses decreased by 20% from $31.5 million in Q1 2024 to $25.1 million in Q1 2025.
Statistically Significant Reduction in Surgeries
In the first year, 72% of patients saw a 50% to 100% reduction in surgeries after starting treatment with INO-3107, increasing to 86% in the second year with half of the patients requiring no surgeries at all.
Negative Updates
Decrease in Cash and Investments
Cash, cash equivalents, and short-term investments decreased from $94.1 million as of December 31, 2024, to $68.4 million at the end of Q1 2025.
Net Loss Reported
Inovio reported a net loss of $19.7 million for the first quarter of 2025, compared to a net loss of $30.5 million in Q1 2024.
Company Guidance
During the Inovio First Quarter 2025 Financial Results Conference Call, the company provided detailed guidance on its key objectives and metrics. Inovio is on track to submit a Biologics License Application (BLA) for its lead candidate, INO-3107, aimed at treating recurrent respiratory papillomatosis (RRP), with the rolling submission set to begin in mid-2025 and completion by the end of the year. If approved for priority review, the Prescription Drug User Fee Act (PDUFA) date is anticipated by mid-2026. The company highlighted resolving a manufacturing issue and initiating device design verification testing, essential for the BLA submission. Clinical data showed that 72% of patients had a 50%-100% reduction in surgeries in the first year, increasing to 86% in the second year, with half of the patients needing no surgeries at all. Financially, Inovio reported a 20% decrease in operating expenses to $25.1 million for Q1 2025, compared to $31.5 million in Q1 2024, and ended the quarter with $68.4 million in cash, expecting the cash runway to extend into the first quarter of 2026.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.