NASDAQ$INO

Inovio Pharmaceuticals Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Inovio reported financial results and provided a business update.

Inovio reported Q4 2020 financial results, with a total revenue of $5.6 million and a net loss of $24.3 million, or $0.14 per share. The company highlighted progress in its HPV and oncology programs, including positive results from the REVEAL 1 Phase 3 clinical trial for VGX-3100 and advancements in its COVID-19 vaccine program.

  • VGX-3100 REVEAL 1 Phase 3 clinical trial met primary and secondary endpoints among all evaluable subjects.
  • Completed enrollment of 400 subjects in the Phase 2 segment of the INNOVATE Phase 2/3 clinical trial for INO-4800.
  • Addressed new COVID variants by evaluating their impact on the immune profile of INO-4800 and developing next-generation vaccine candidates.
  • Phase 1 clinical data from INO-4800 was published in The Lancet’s EClinicalMedicine.

Headline financials

Total Revenue

$5.58M

Previous: $279K+1900.4%
EPS (adj)

-$1.68

Previous: -$4.56+63.2%
Common shares outstanding

186.9M

No prior period
Capital Expenditures

$962K

Previous: $114K+740.7%
Free Cash Flow

-$52.2M

Previous: -$13.9M-276.7%
Net Income

-$24.3M

Previous: -$37.7M+35.5%
Operating Income

-$34.9M

Previous: -$30.4M-14.7%
Gross Profit

-$20.7M

Previous: -$19.8M-4.5%
Cash & Equivalents

$251M

Previous: $22.2M+1029.6%
Total Assets

$540M

Previous: $144M+275.0%
Stock-Based Comp

$3.83M

Previous: $2.03M+88.1%

Revenue & EPS history

Inovio · Revenue · Quarterly

$5.58M

Q4 2020+1,900.4%vs Q4 2019
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Forward guidance

INOVIO is focused on advancing its DNA medicines platform across HPV-associated diseases, cancer, and infectious diseases. The company is committed to completing its Phase 2 segment in the second quarter and seeking to advance to the Phase 3 portion of the trial.

Tailwinds

  • VGX-3100 met primary and secondary endpoints in REVEAL 1 trial.
  • INO-4800 Phase 1 data published in The Lancet’s EClinicalMedicine.
  • INOVIO is developing next-generation, pan-COVID vaccine candidates.
  • INOVIO received a $37.6 million grant from DARPA to develop anti-SARS-CoV-2-specific dMAbs®
  • INOVIO is evaluating the impact of newly circulating strains of the SARS-CoV-2 virus on the immune profile of INO-4800

Headwinds

  • Uncertainties inherent in pre-clinical studies and clinical trials.
  • Ability to secure sufficient manufacturing capacity.
  • Availability of funding to support continuing research and studies.
  • Potential availability of alternative therapies or treatments.
  • Issues involving patents and product liability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

-1.6%

Avg return

Earnings day

-0.6%

Avg return

5 days after

-5.9%

Avg return

30 days after

39%

25 / 64 earnings

Positive

+21.6%

Q4 2014

Best reaction

-27.8%

Q2 2013

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.3%-13.5%-22.0%
Q4 2025-1.2%-1.2%-36.9%
Q3 2025-7.1%-4.7%-0.9%
Q1 2025-1.6%+7.8%+4.2%
Q4 2024-6.7%-10.5%-17.1%
Q3 2024-13.9%-18.6%-53.1%
Q2 2024-1.7%-8.1%-26.9%
Q1 2024+7.2%+12.7%-11.0%
Q4 2023-6.7%+24.4%+21.9%
Q3 2023-7.9%+0.0%+0.0%
Q2 2023+9.5%+9.5%+7.1%
Q1 2023-7.1%-8.3%-38.1%
Q4 2022+3.2%-4.0%-34.9%
Q3 2022+1.4%+9.3%-14.4%
Q2 2022+10.2%+11.4%-8.5%
Q1 2022-23.6%-16.0%-30.4%
Q4 2021-5.9%-4.0%+10.8%
Q3 2021+5.6%+9.1%-7.0%
Q2 2021-5.9%+1.3%-9.2%
Q1 2021-5.3%-4.4%+46.4%
Q4 2020-9.7%-17.2%-16.4%
Q3 2020+9.3%+6.6%+8.5%
Q2 2020-27.7%-26.9%-49.2%
Q1 2020+18.8%+23.7%+23.3%
Q4 2019-14.0%-12.3%-3.0%
Q3 2019-5.7%-4.1%+10.6%
Q2 2019-1.6%-6.3%-15.8%
Q1 2019-4.4%-9.2%-37.2%
Q4 2018+3.7%+0.0%+15.9%
Q3 2018+1.1%-7.5%-1.3%
Q2 2018+14.3%+13.8%+35.5%
Q1 2018-6.2%+1.1%-5.1%
Q4 2017+6.6%+12.6%+11.5%
Q3 2017-16.6%-14.3%-15.3%
Q2 2017-0.2%-1.4%+7.8%
Q1 2017+5.8%+15.2%+27.0%
Q4 2016-6.1%-7.7%-7.9%
Q3 2016+18.7%+26.8%+8.7%
Q2 2016-8.1%-9.1%-8.1%
Q1 2016+4.7%
Q4 2015-4.9%
Q3 2015+3.1%
Q2 2015+20.5%
Q1 2015+1.1%
Q4 2014+21.6%
Q3 2014+0.6%
Q2 2014-12.9%
Q1 2014+2.8%
Q4 2013-2.0%
Q3 2013-1.1%
Q2 2013-27.8%
Q1 2013+1.6%
Q4 2012-1.9%
Q3 2012-7.6%
Q2 2012+1.9%
Q1 2012-2.0%
Q4 2011-6.5%
Q3 2011-4.8%
Q2 2011+1.7%
Q1 2011+0.0%
Q4 2010-1.8%
Q3 2010+5.9%
Q2 2010-1.1%
Q1 2010-7.5%

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