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Inovio (INO) Reports Wider Loss in Q3, Revenues Beat

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Plymouth Meeting, PA-based Inovio Pharmaceuticals, Inc. (INO - Free Report) is a development-stage biopharmaceutical company focused on the development of active DNA immunotherapies and vaccines targeting various cancer forms and infectious diseases. Inovio has several early- and mid-stage candidates in its pipeline.                        

VGX-3100 is the most advanced candidate in the company’s pipeline. It has completed a phase II study on VGX-3100 for the treatment of cervical dysplasia. Apart from VGX-3100, the company has several other candidates in its pipeline. Interesting candidates include INO-5150 (phase I – prostate cancer), INO-1400 (phase I – breast, lung and pancreatic cancers) and INO-3112 (phase I/II – head/neck cancer and cervical cancers) among others.

With Inovio not having any approved product in its portfolio, Inovio depends entirely on collaborations, grants and government contracts for revenues. In this scenario, investor focus will remain on pipeline and regulatory updates.

In the trailing four quarters, Inovio’s performance has been mixed with the company recording an average positive surprise of 205.15%. While the company surpassed estimates on three occasions, it missed expectations in the remaining one.

INOVIO PHARMAC Price and EPS Surprise



Currently, Inovio has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Inovio reported a loss of 28 cents in the third quarter of 2016, marginally wider than the Zacks Consensus Estimates of a loss of 26 cents.

Revenues: Revenues in the reported quarter came in above expectations. Inovio posted revenues of $12.5 million, compared to our consensus estimate of $4 million.

Key Stats: VGX-3100 is the most advanced candidate in the company’s pipeline. Last month, Inovio suffered a setback with the FDA placing a clinical hold on its late-stage program for VGX-3100. The company was looking to move VGX-3100 into phase III development in the fourth quarter but with the clinical hold in place, it now expects the program to be delayed until the first half of 2017 pending resolution of the FDA’s requests.

Stock Price: Inactive in pre-market trading.

Check back later for our full write up on earnings report later!

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