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INOVIO Reports First Quarter 2025 Financial Results and Recent Business Highlights
INOInovio Pharmaceuticals(INO) Prnewswire·2025-05-13 20:05

Core Insights - INOVIO is on track to submit its Biologics License Application (BLA) for INO-3107, a treatment for recurrent respiratory papillomatosis (RRP), in mid-2025, with the goal of FDA acceptance by the end of 2025 [2][3][7] - The company reported a decrease in net loss for Q1 2025 to 19.7million,or19.7 million, or 0.51 per share, compared to a net loss of 30.5million,or30.5 million, or 1.31 per share, in Q1 2024 [15][19] - INOVIO's cash, cash equivalents, and short-term investments were 68.4millionasofMarch31,2025,downfrom68.4 million as of March 31, 2025, down from 94.1 million at the end of 2024, with an estimated operational net cash burn of approximately 22millionforQ22025[12][15]CompanyDevelopments−INOVIOhasinitiateddevicedesignverificationtestingfortheCELLECTRAdevice,whichisrequiredfortheBLAsubmission,expectedtobecompletedinthefirsthalfof2025[3][7]−ThecompanyisconductingongoingmarketresearchtosupportitscommercialreadinessplansandhaspublishedclinicaldatafromaPhase1/2trialinapeer−reviewedjournal[4][6]−PromisinginterimresultsfromaPhase1proof−of−concepttrialforDNA−encodedmonoclonalantibodies(DMAbs)wereannounced,withadditionaldatatobepresentedatupcomingscientificmeetings[6][9]FinancialPerformance−Researchanddevelopmentexpensesdecreasedto22 million for Q2 2025 [12][15] Company Developments - INOVIO has initiated device design verification testing for the CELLECTRA device, which is required for the BLA submission, expected to be completed in the first half of 2025 [3][7] - The company is conducting ongoing market research to support its commercial readiness plans and has published clinical data from a Phase 1/2 trial in a peer-reviewed journal [4][6] - Promising interim results from a Phase 1 proof-of-concept trial for DNA-encoded monoclonal antibodies (DMAbs) were announced, with additional data to be presented at upcoming scientific meetings [6][9] Financial Performance - Research and development expenses decreased to 16.1 million in Q1 2025 from 20.9millioninQ12024,primarilyduetolowerdrugmanufacturingandimmunologyexpenses[15]−Generalandadministrativeexpensesalsodecreasedto20.9 million in Q1 2024, primarily due to lower drug manufacturing and immunology expenses [15] - General and administrative expenses also decreased to 9.0 million in Q1 2025 from 10.6millioninQ12024,attributedtolowerlegalexpensesandstock−basedcompensation[15]−TotaloperatingexpensesforQ12025were10.6 million in Q1 2024, attributed to lower legal expenses and stock-based compensation [15] - Total operating expenses for Q1 2025 were 25.1 million, down from $31.5 million in the same period of 2024 [15][19]