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Inovio Pharmaceuticals Q1 EPS $(0.260) Misses $(0.220) Estimate, Sales $1.300M Miss $1.910M Estimate

Inovio Pharmaceuticals (NASDAQ:INO) reported quarterly losses of $(0.260) per share which missed the analyst consensus estimate of $(0.220) by 18.18 percent. This is a 13.33 percent increase over losses of $(0.300) per

Benzinga · 05/11/2020 20:09

Inovio Pharmaceuticals (NASDAQ:INO) reported quarterly losses of $(0.260) per share which missed the analyst consensus estimate of $(0.220) by 18.18 percent. This is a 13.33 percent increase over losses of $(0.300) per share from the same period last year. The company reported quarterly sales of $1.300 million which missed the analyst consensus estimate of $1.910 million by 31.94 percent. This is a 54.06 percent decrease over sales of $2.830 million the same period last year.

 

- U.S. Phase 1 clinical trial for COVID-19 vaccine candidate INO-4800 completed enrollment with 40 healthy volunteers; preliminary results expected in late June
- Phase 2/3 efficacy trial for INO-4800 to start this summer upon regulatory approval
- Preclinical data manuscript for INO-4800 accepted for publication in Nature Communications; Several animal challenge studies currently ongoing
- Additional clinical trials for INO-4800 in China and South Korea to start this summer
- Positive interim data reported for VGX-3100 in Phase 2 clinical trials in precancerous anal and vulvar dysplasias
- INO-3107 advances to Phase 1/2 clinical trial to treat rare, orphan disease recurrent respiratory papillomatosis (RRP)
- 12-month overall survival efficacy data from INO-5401 in GBM to be presented at the American Society of Clinical Oncology (ASCO20)
Investor Call at 4:30 PM ET

PLYMOUTH MEETING, Pa., May 11, 2020 /PRNewswire/ -- INOVIO (NASDAQ:INO), a biotechnology company focused on rapidly bringing to market precisely designed DNA medicines to protect and treat people from infectious diseases, cancer, and diseases associated with HPV, today reported financial results for the quarter ended March 31, 2020. INOVIO's management will host a live conference call and webcast at 4:30 p.m. Eastern Time today to discuss financial results and provide a general business update, including the company's development of INO-4800, one of the leading COVID-19 vaccine candidates currently in U.S. Phase 1 clinical trials.

INOVIO's President and Chief Executive Officer Dr. J. Joseph Kim said, "INOVIO had a very productive first quarter, laying the foundation for a transformative year for the company. Our recent and ongoing clinical developments across all of our programs continue to demonstrate the differentiating value and broad applicability of our DNA medicines platform. When the COVID-19 pandemic emerged in early January, INOVIO was able to leverage its DNA medicines platform and early funding from CEPI to be one of the first companies to advance a vaccine candidate for COVID-19 into a Phase 1 clinical trial. INOVIO's dedicated team of vaccine developers was able to quickly build and expand a global coalition of collaborators, partners, manufacturers, and funders to advance the INO-4800 program.

"Most importantly, while safely conducting global clinical trials during this COVID pandemic has been a significant challenge, INOVIO is on track to deliver key 2020 clinical and regulatory milestones including the planned reporting of REVEAL 1 Phase 3 top-line efficacy data for VGX-3100 in Q4 and the presentation of 12-month overall survival results from the Phase 1/2 clinical trial of INO-5401 immunotherapy in a very hard to treat cancer in glioblastoma multiforme (GBM) at the ASCO20 Virtual Conference later this month."