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Inovio (INO) Reports Narrower-than-Expected Loss in Q1

Plymouth Meeting, PA-based Inovio Pharmaceuticals, Inc. INO is a development-stage biopharmaceutical company focused on the development of active DNA immunotherapies and vaccines in combination with proprietary electroporation delivery devices to prevent and treat 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 that, the company has INO-5150 (phase I – prostate cancer), INO-1400 (phase I – breast, lung and pancreatic cancers) and INO-3112 (phase I – head/neck cancer and cervical cancers) among others in its pipeline.

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.

Inovio’s performance has been far from impressive with the company missing earnings estimates in three of the four trailing quarters and beating the same in one. Overall, the company has recorded an average negative surprise of 67.11%.

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 narrower-than-expected loss in the first quarter of 2016. Our consensus called for a loss of 23 cents per share and the company reported a loss of 11 cents.

Revenues: Revenues in the reported quarter came in above expectations. Inovio posted revenues of $8.1 million, compared to our consensus estimate of $3.1 million.

Key Stats: Inovio continues to progress with its pipeline. Following successful end-of-phase-II meetings with the FDA and the European Medicines Agency, the company plans to commence a pivotal phase III registration study on VGX-3100 for the treatment of HPV-16/18-related high grade cervical dysplasia in 2016.

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

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