Earnings ·
Inovio reports Q3 net loss of $49.2M as VOCERYQ gains FDA approval
INOInovio Pharmaceuticals, Inc.
Inovio Pharmaceuticals reported a third-quarter net loss of $49.2 million, or $0.50 per share, compared to a $45.5 million loss in the prior year period. The wider loss was primarily driven by a $26.9 million non-cash charge related to fair value adjustments on warrant liabilities. Operating expenses decreased to $19.8 million from $21.2 million due to lower R&D costs, partially offset by increased SG&A expenses of $9.2 million as the company prepares for commercialization. The filing coincides with the FDA's accelerated approval of VOCERYQ for recurrent respiratory papillomatosis and a recent public offering that generated $80.5 million in net proceeds. Inovio is a biotechnology company focused on developing DNA medicines to treat HPV-related diseases, cancer, and infectious diseases.