INOVIO PHARMACEUTICALS, INC. INO

Healthcare SIC 2834 - Pharmaceutical Preparations NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Pharmaceutical Preparation Manufacturing derived Nasdaq

This Annual Report includes trademarks and registered trademarks of INOVIO Pharmaceuticals, Inc. Products or service names of other companies mentioned in this Annual Report may be trademarks or registered trademarks of their respective owners. References herein to "we," "our," "us," "INOVIO" or the "Company" refer to INOVIO Pharmaceuticals, Inc. and its consolidated subsidiaries. References herein to "DNA medicines" refers to our product candidates in development for diseases associated with human papillomavirus (HPV), cancer, and infectious diseases.

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 Part I, Item 1A., Risk Factors herein. These risk factors include, but are not limited to, the following:

Last close 0.90 2026-10-23
Market cap $92.8M 2026-06-30 share count
52-week range 0.56 - 2.72

Valuation FY2025 figures against the last close

P/S1,419.6x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-1.81

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $65.3K$217.8K$832.0K$10.3M$1.8M$7.4M$4.1M$30.5M$42.2M$35.4M
R&D $54.2M$75.6M$86.7M$187.7M$249.2M$94.2M$88.0M$95.3M$98.6M$88.7M
SG&A $32.7M$37.0M$47.6M$90.2M$53.8M$37.2M$27.2M$29.3M$28.3M$23.9M
Total operating expenses $86.9M$112.6M$144.8M$277.8M$303.0M$131.5M$115.2M$124.6M$125.9M$111.6M
Operating income -$86.8M-$112.4M-$143.9M-$267.6M-$301.2M-$124.1M-$111.1M-$94.1M-$83.6M-$76.2M
Interest expense $0$177.8K$1.2M$1.3M$1.9M$8.7M$7.9M$0$25.9K—
Pre-tax income -$84.9M-$107.3M-$135.1M-$277.7M-$303.2M-$162.9M-$120.8M-$94.8M-$88.2M-$73.7M
Income tax $0$0$0$0$0$0$257.3K$2.2M$0$0
Net income -$85.0M-$107.0M-$135.0M-$279.8M-$303.7M-$166.4M-$119.4M-$97.0M-$88.2M-$73.7M
EPS, basic -1.81-3.95-6.09-14.07-17.45-1.07-1.21-1.05-1.08-1.01
EPS, diluted -1.81-3.95-6.09-14.07-17.45-1.07-1.21-1.05-1.09-1.01
Shares, diluted (wtd. avg.) 46.9M27.2M22.2M19.9M17.4M155.1M98.7M92.5M81.9M73.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $44.3M$65.8M$14.3M$46.3M$71.1M$250.7M$22.2M$23.7M$23.8M$19.1M
Short-term investments $14.2M$28.3M$131.0M$206.7M$330.2M$160.9M$67.3M$57.5M$103.6M$85.6M
Receivables $450$1.2M$2.4M$1.7M$5.5M$18.6M$700.1K$3.3M$6.0M$15.8M
Total current assets $61.1M$97.8M$153.1M$315.2M$448.4M$471.2M$94.2M$87.8M$138.4M$124.6M
Property, plant and equipment $2.5M$3.7M$5.0M$7.7M$17.5M$11.3M$12.8M$15.9M$18.3M$9.0M
Goodwill ——$0$10.5M$10.5M$10.5M$10.5M$10.5M$10.5M$10.5M
Other intangibles ——$0$2.1M$2.6M$3.1M$3.7M$4.8M$6.0M$7.6M
Total assets $74.3M$113.2M$171.0M$348.5M$495.9M$539.8M$144.0M$131.1M$187.2M$173.7M
Accounts payable ———$79.7M$47.6M$21.2M$18.2M$23.1M$23.3M$19.6M
Total current liabilities $43.7M$35.3M$42.6M$96.9M$65.7M$41.7M$32.0M$35.3M$35.4M$43.8M
Total liabilities $50.2M$44.7M$53.6M$126.2M$96.3M$78.6M$138.5M$44.1M$44.8M$50.3M
Retained earnings -$1.82B-$1.73B-$1.62B-$1.49B-$1.21B-$906.2M-$739.8M-$620.4M-$523.4M-$434.8M
Total equity $24.1M$68.5M$117.3M$222.4M$399.7M$461.1M$5.4M$87.0M$142.5M$123.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$88.6M-$104.1M-$124.4M-$216.2M-$215.7M-$178.0M-$97.9M-$73.6M-$63.2M-$62.6M
Depreciation and amortisation $1.4M$1.8M$2.6M$3.7M$3.0M$3.0M$3.6M$3.7M$1.9M$1.7M
Stock-based compensation $3.8M$6.6M$11.1M$22.6M$26.3M$15.6M$10.9M$10.7M$13.1M$10.5M
Capital expenditure $285.7K$487.8K$320.9K$969.2K$1.2M$1.5M$987.9K$2.1M$10.3M$2.7M
Investing cash flow $14.0M$104.1M$87.4M$109.6M-$175.3M-$58.8M-$9.0M$42.4M-$27.8M$16.3M
Financing cash flow $53.1M$51.5M$5.0M$81.8M$211.5M$465.3M$105.4M$31.0M$95.7M$7.8M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001055726-26-000011.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -400M -300M -200M -100M 0 100M Revenue, FY2016: 35.4M Net income, FY2016: -73.7M Revenue, FY2017: 42.2M Net income, FY2017: -88.2M Revenue, FY2018: 30.5M Net income, FY2018: -97M Revenue, FY2019: 4.1M Net income, FY2019: -119.4M Revenue, FY2020: 7.4M Net income, FY2020: -166.4M Revenue, FY2021: 1.8M Net income, FY2021: -303.7M Revenue, FY2022: 10.3M Net income, FY2022: -279.8M Revenue, FY2023: 832K Net income, FY2023: -135M Revenue, FY2024: 217.8K Net income, FY2024: -107M Revenue, FY2025: 65.3K Net income, FY2025: -85M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $35.4M $42.2M $30.5M $4.1M $7.4M $1.8M $10.3M $832.0K $217.8K $65.3K
Gross profit — — — — — — — — — —
Net income -$73.7M -$88.2M -$97.0M -$119.4M -$166.4M -$303.7M -$279.8M -$135.0M -$107.0M -$85.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Material agreement signed Item 1.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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