2023-05-10 16:09:24 ET
- Inovio Pharmaceuticals press release ( NASDAQ: INO ): Q1 GAAP EPS of -$0.16 misses by $0.02 .
- Revenue of $0.11M (-45.0% Y/Y) misses by $0.17M .
- Announced additional positive data from Phase 1/2 trial for INO-3107 in recurrent respiratory papillomatosis patients
- Second cohort of trial showed 10 of the 11 (91%) patients saw a reduction in surgical interventions in the year following initial treatment
- New combined safety and immunological data showing tolerability and durable immune response presented at ABEA/COSM
- Announced positive data from Phase 1b trial with INO-4201 as an Ebola booster for ERVEBO®
- INO-4201 was well-tolerated and boosted humoral responses in 36 of 36 (100%) treated participants
- New safety and immunological data indicating potential to extend protection against Ebola presented at ECCMID
- Announced topline results for REVEAL2, the second Phase 3 trial for VGX-3100 as a treatment for cervical high-grade squamous intraepithelial lesions
- Analysis of clinical characteristics of biomarker population is ongoing; findings to be shared in third quarter 2023
- Trial results achieved statistical significance in all-participants population
- Trial results did not meet primary endpoint in biomarker-selected population
- Enhanced product development team with appointment of Dr. Cheryl Elder as Senior Vice President, Regulatory Affairs
- Ended the first quarter 2023 with $223.8 million in cash, cash equivalents and short-term investments
- Company maintains cash runway projection into first quarter 2025.
- Guidance: INOVIO continues to expect its cash runway to extend into the first quarter of 2025. This projection includes a cash burn estimate of approximately $33 million for the second quarter 2023 and its ongoing expectation that cash burn will decrease incrementally from there into the first quarter of 2025. These projections do not include any funds that may be raised through the Company's existing at-the-market program or other capital-raising activities.
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Inovio Pharmaceuticals GAAP EPS of -$0.16 misses by $0.02, revenue of $0.11M misses by $0.17M