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Inovio Pharmaceuticals (INO)
NASDAQ:INO
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Inovio Pharmaceuticals
(NASDAQ:INO)
34Underperform
Positive Factors
Clinical Trial Results
The company presented full safety and efficacy data for the Phase 1/2 trial of INO-3107 in recurrent respiratory papillomatosis, showing a 72% overall response rate.
Manufacturing Resolution
Management is confident it has resolved the stability/manufacturing issue with the Cellectra device, supporting likely BLA acceptance for INO-3107 to treat recurrent respiratory papillomatosis.
Regulatory Progress
INO-3107 has been granted Breakthrough Therapy designation, which could qualify it for priority review.
Negative Factors
Analyst Rating
Analyst reiterates a Neutral rating while adjusting the 12-month price target to $3 from $5 per share.
Financial Concerns
The company may need to raise additional capital within the next 12 months.
Project Pipeline
The company's operations are solely focused on INO-3107 during 2025, which may limit diversification in their project pipeline.
Inovio Pharmaceuticals (INO) vs. S&P 500 (SPY)
Market Cap
$64.91M
Dividend YieldN/A
Average Volume (3M)753.61K
Price to Earnings (P/E)―
Beta (1Y)1.63
Revenue Growth-73.83%
EPS Growth34.81%
CountryUS
Employees134
SectorHealthcare
Sector Strength71
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.98
Shares Outstanding36,673,466
10 Day Avg. Volume820,458
30 Day Avg. Volume753,605
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)323.30
Price to Cash Flow (P/CF)-0.90
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$6.67Price Target Upside278.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Inovio Pharmaceuticals Business Overview & Revenue Model
Company DescriptionInovio Pharmaceuticals, Inc. is a biotechnology company focused on rapidly bringing to market precisely designed DNA medicines to treat, cure, and protect people from diseases associated with human papillomavirus (HPV), cancer, and infectious diseases. The company operates primarily within the healthcare and biotechnology sectors, leveraging its proprietary platform to develop vaccines and immunotherapies.
How the Company Makes MoneyInovio Pharmaceuticals generates revenue primarily through collaborative research and development agreements, licensing of its intellectual property, and grants. The company partners with various government agencies, non-profit organizations, and pharmaceutical companies to advance its product pipeline, providing funding and resources in exchange for rights to commercialize successful products. Additionally, Inovio may receive milestone payments and royalties from its partners upon successful development and commercialization of its products. The company also participates in government and non-governmental grant programs, which support its research activities.
Inovio Pharmaceuticals Financial Statement Overview
Summary
Inovio Pharmaceuticals is facing significant financial challenges, characterized by persistent losses, negative cash flows, and lack of revenue growth. The balance sheet shows a strong equity position, but the lack of profitability and reliance on financing raise concerns about the company's financial health.Income Statement
Inovio Pharmaceuticals exhibits a challenging financial position with consistent negative net income and EBIT over the years. The company shows no revenue growth and gross profit margins are negative, indicating cost management issues or insufficient revenue to cover costs. The absence of gross profit and negative EBIT margins reflect the company's ongoing struggle with profitability.10
Very Negative
Balance Sheet
The balance sheet reveals a relatively stable equity position with stockholders' equity being significantly higher than total debt, resulting in a low debt-to-equity ratio. However, the company has been heavily reliant on equity financing, as indicated by the substantial stockholders' equity compared to total assets. Despite the strong equity base, the company has not converted this into profitability or growth.30
Negative
Cash Flow
Cash flow analysis indicates a negative operating and free cash flow, showing difficulties in generating cash from operations. The company has relied on financing activities to sustain operations, which may not be sustainable long-term. The absence of positive free cash flow growth further highlights challenges in cash generation.20
Very Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 217.76K | 832.01K | 10.26M | 1.77M | 7.41M |
| Gross Profit | ||||
| 217.76K | -2.67M | 4.77M | -2.96M | -86.83M |
| EBIT | ||||
| -112.40M | -143.94M | -267.57M | -301.22M | -124.08M |
| EBITDA | ||||
| -103.95M | -130.39M | -270.90M | -296.56M | -149.56M |
| Net Income Common Stockholders | ||||
| -107.25M | -135.12M | -287.66M | -305.38M | -215.09M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 94.11B | 145.29M | 253.00M | 401.31M | 411.64M |
| Total Assets | ||||
| 113.20B | 170.95M | 348.53M | 495.94M | 539.77M |
| Total Debt | ||||
| 11.87B | 30.21M | 32.07M | 33.02M | 39.05M |
| Net Debt | ||||
| -53.95B | 15.90M | -14.25M | -38.12M | -211.68M |
| Total Liabilities | ||||
| 44.69B | 53.60M | 126.17M | 96.27M | 78.63M |
| Stockholders Equity | ||||
| 68.50B | 117.35M | 222.36M | 399.67M | 461.14M |
| Cash Flow | Free Cash Flow | |||
| -104.08B | -124.69M | -217.18M | -216.94M | -179.50M |
| Operating Cash Flow | ||||
| -104.08B | -124.37M | -216.22M | -215.71M | -177.98M |
| Investing Cash Flow | ||||
| 104.07B | 87.36M | 109.59M | -175.34M | -58.80M |
| Financing Cash Flow | ||||
| 51.48M | 5.00M | 81.84M | 211.50M | 465.28M |
Inovio Pharmaceuticals Technical Analysis
Neutral
1.76
Price Trends
1.90
Negative
2.31
Negative
4.79
Negative
Market Momentum
-0.08
Negative
50.32
Neutral
84.94
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INO, the sentiment is Neutral. The current price of 1.76 is above the 20-day moving average (MA) of 1.70, below the 50-day MA of 1.90, and below the 200-day MA of 4.79, indicating a neutral trend. The MACD of -0.08 indicates Negative momentum. The RSI at 50.32 is Neutral, neither overbought nor oversold. The STOCH value of 84.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for INO.
Inovio Pharmaceuticals Risk Analysis
Inovio Pharmaceuticals disclosed 58 risk factors in its most recent earnings report. Inovio Pharmaceuticals reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Inovio Pharmaceuticals Peers Comparison
Overall Rating
UnderperformOutperform
Sector (50)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $24.56B | ― | -3.38% | ― | -27.64% | -172.62% | |
50 Neutral | $5.51B | 2.95 | -43.70% | 2.78% | 16.94% | 3.59% | |
49 Neutral | $81.88M | ― | -114.71% | ― | 288.94% | 39.45% | |
48 Neutral | $10.34B | ― | -28.77% | ― | -52.75% | 25.00% | |
40 Underperform | $201.61M | ― | -154.01% | ― | 187.79% | 32.40% | |
34 Underperform | $1.03B | ― | 30.06% | ― | -30.65% | 77.62% | |
34 Underperform | $64.91M | ― | -115.42% | ― | -73.83% | 34.81% |
* Healthcare Sector Average
Performance Comparison
INO
Inovio Pharmaceuticals
1.76
-7.88
-81.74%
NVAX
Novavax
6.39
2.40
60.15%
OCGN
Ocugen
0.70
-0.89
-55.97%
VXRT
Vaxart
0.36
-0.53
-59.55%
MRNA
Moderna
26.24
-77.55
-74.72%
BNTX
BioNTech SE
99.00
12.66
14.66%
Inovio Pharmaceuticals Earnings Call Summary
Earnings Call Date: Mar 18, 2025 | % Change Since: -16.19% | Next Earnings Date: May 13, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant achievements such as resolving key manufacturing issues, demonstrating durable clinical benefits of INO-3107, and advancing the DMAb platform. However, challenges remain with pending FDA submissions and a decline in the cash position.Highlights
Resolution of Manufacturing Issues
Inovio successfully resolved manufacturing issues with the single-use array component of the CELLECTRA device, allowing them to proceed with FDA-required device verification testing.
Advancements with INO-3107
INO-3107 showed durable clinical benefits with a 50% complete response rate in the second year and a greater than 75% reduction in surgeries across the patient population.
Progress on DNA-Encoded Monoclonal Antibodies (DMAb)
The Phase 1 trial showed that DMAbs for SARS-CoV-2 could be durably produced in humans at biologically relevant levels, demonstrating long-lasting in-vivo antibody production.
Financial Management
Inovio raised more than $72 million in gross proceeds and decreased operational spending by 22% from the previous year, estimating a cash runway into the first quarter of 2026.
Lowlights
Pending FDA Submission and Verification Testing
The company is awaiting the completion of FDA-required design verification testing for the CELLECTRA device, which is necessary for the BLA submission of INO-3107.
Cash Position Decline
Inovio's cash, cash equivalents, and short-term investments decreased from $145.3 million at the end of 2023 to $94.1 million by the end of 2024.
Company Guidance
During the Inovio Pharmaceuticals Fourth Quarter 2024 Financial Results Conference Call, the company provided guidance on its strategic priorities for 2025. These include submitting a Biologics License Application (BLA) for INO-3107, aimed at treating recurrent respiratory papillomatosis (RRP), with the goal of starting the rolling submission process mid-year and completing it by the end of 2025. Inovio emphasized their progress in resolving manufacturing issues related to the CELLECTRA device and highlighted their ongoing efforts in advancing commercial plans for INO-3107, including market research and pricing strategy development. They also discussed the potential of their DNA-Encoded Monoclonal Antibodies (DMAb) technology, noting interim results from a Phase 1 trial showing durable antibody production over 72 weeks. Financially, Inovio reported a reduction in operational expenses, with a net loss of $107.3 million for 2024, and a cash runway projected to extend into the first quarter of 2026.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.