INO · Inovio Pharmaceuticals, Inc.
Substantial doubt about the company's ability to continue as a going concern.
“We do not currently have sufficient working capital to fund our planned operations for the next twelve months and substantial doubt exists as to our ability to continue as a going concern.”View the 10-Q filed Aug 12, 2026
Key customers — 100% of revenue (the years ended December 31, 2025 and 2024)
“During the years ended December 31, 2025 and 2024, we derived 100% of our revenue from ApolloBio.”
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AI Brief
Q2 FY26 earnings call · Aug 12, 2026TL;DR. Inovio's INO-3107 BLA review advanced toward the October 30, 2026 PDUFA date with a completed late-cycle meeting, pre-licensure inspections, and an informal clinical meeting, though accelerated-approval eligibility remains unresolved. Operating expenses fell 19% year-over-year, a partner reported positive Phase 3 results for VGX-3100 in China, and a July equity offering extended cash runway into late Q1 2027 through a potential launch.
- + Regulatory progress keeps INO-3107 on track for the October 30, 2026 PDUFA date, with FDA late-cycle review, pre-licensure inspections, and an informal clinical meeting completed.
- + Equity offering and runway extension fund the company through a potential INO-3107 launch.
- + Operating expenses decreased 19% year-over-year in Q2 2026 as the company managed resources around the 3107 program.
- + ApolloBio reported positive Phase 3 topline results for VGX-3100 in cervical dysplasia, supporting a planned China filing.
- − Accelerated-approval eligibility for INO-3107 remains unresolved, as FDA did not share its preliminary conclusion at the informal meeting.
- − FDA pre-licensure inspections produced one observation, requiring a response submission.
- − FDA feedback on the confirmatory trial design is still forthcoming late in the review process.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Total employee and director stock-based compensation expense | $753,000 | the three months ended June 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Biotechnology — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
INO
this stock
Inovio Pharmaceuticals, Inc.
|
$122.01M | -33.3% | +19.4% | — | 19.3% |
|
VRTX
Vertex Pharmaceuticals Inc / Ma
|
$133.37B | +11.3% | +46.2% | 30.7 | 1.9% |
|
REGN
Regeneron Pharmaceuticals, Inc.
|
$81.13B | -4.8% | +20.8% | 19.5 | 2.5% |
|
MRNA
Moderna, Inc.
|
$79.40B | +544.3% | +4.3% | — | 8.2% |
|
CSLLY
Csl Ltd
|
$61.25B | — | — | — | 0.0% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| INO | -1.7% | -14.7% | +6.4% | -4.9% | -33.3% |
| SPY | -0.2% | -0.5% | +12.2% | +0.9% | +12.9% |
| vs SPY | -1.5% | -14.3% | -5.8% | -5.8% | -46.2% |