Inovio Pharmaceuticals Q3 loss widens on warrant charge

Overview

• US biotech firm's Q3 net loss widened, driven by higher non-cash warrant liability loss

• R&D expenses fell while SG&A expenses rose ahead of VOCERYQ commercial launch

• Company raised $80.5 mln in public offering to support VOCERYQ launch

Outlook

• Company expects full commercial launch of VOCERYQ in Q1 2027

• INOVIO estimates current cash will support operations into late fourth qtr 2027

• Company plans to submit VOCERYQ conditional marketing authorization application in Europe before end of 2026

Result Drivers

• VOCERYQ LAUNCH PREPARATIONS - SG&A expenses increased due to anticipated commercial launch of VOCERYQ

• LOWER R&D SPENDING - R&D expenses declined mainly due to reduced engineering services and lower compensation costs

• NON-CASH WARRANT LOSS - Net loss widened mainly due to a $26.9 mln non-cash loss from the fair-value adjustment of warrant liabilities

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Inovio Pharmaceuticals Inc is $8.00, about 429.8% above its November 9 closing price of $1.51

Reuters Recommended Reads

• Nov 10 - Tyra Biosciences Q3 net loss widens on higher R&D costs

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)