PLYMOUTH MEETING, Pa.,
Nov. 9, 2020 /PRNewswire/
-- INOVIO (NASDAQ:INO), a biotechnology company focused on
rapidly bringing to market precisely designed DNA medicines to
treat and protect people from infectious diseases and cancer, today
reported financial results for the quarter ended September 30, 2020. INOVIO's management will host
a live conference call and webcast at 4:30
p.m. Eastern Standard Time today to discuss financial
results and provide a general business update, including near-term
expectations for its COVID-19 DNA vaccine development program and a
clinical program update for its DNA medicines portfolio. The live
webcast and a replay may be accessed by visiting INOVIO's website
at http://ir.inovio.com/events-and-presentations/default.aspx.
INOVIO Third Quarter 2020 Highlights
- INOVIO has responded to the United States Food & Drug
Administration (FDA) to address the questions related to the
partial clinical hold on INOVIO's Investigational New Drug
Application (IND) for the Phase 2/3 trial of its COVID-19 vaccine
candidate INO-4800
- Recent publication of preclinical data in npj Vaccines
demonstrated INO-4800's ability to neutralize multiple newly
prevalent mutant strains of the SARS-CoV-2 virus
- INOVIO added Thermo Fisher Scientific to its global
manufacturing consortium to manufacture COVID-19 vaccine candidate
INO-4800
- INO-5401 glioblastoma (GBM) overall survival at 18 months
(OS18) data selected for late-breaking presentation at the Society
for Neuro-Oncology 2020 Annual Meeting on November 20, 2020
- Completion of double-blind Phase 3 REVEAL 1 data collection for
VGX-3100 has been impacted by the recent pandemic surge; data
readout for primary CIN Phase 3 trial is expected in the first half
of 2021
- INO-3107, a DNA medicine candidate for treatment of recurrent
respiratory papillomatosis (RRP), a rare, debilitating disease
caused by human papillomavirus (HPV) infection, was granted Orphan
Drug designation by the FDA
Dr. J. Joseph Kim, INOVIO's
President and CEO, said, "INOVIO continues to focus on the
development of our COVID-19 vaccine, INO-4800, as well as advancing
our other core DNA medicine programs. We are committed to following
the science – on a critically important mission to safely and
diligently develop medicines to address the impact of COVID-19 and
other infectious diseases, as well as unmet medical needs in GBM
and HPV. While the partial clinical hold for INO-4800 has resulted
in delays to our originally anticipated development timeline, the
company remains well-capitalized and focused as both clinical
trials and manufacturing efforts continue."
Dr. Kim continued, "As a reminder, the FDA's partial clinical
hold is not related to the occurrence of adverse events nor does it
impact the completion of our ongoing, expanded Phase 1 clinical
trial for INO-4800 or the development timelines for any of our
other product candidates. INOVIO provided responses to address the
FDA's questions in October and anticipates a response from the FDA
this month as to whether the planned Phase 2/3 clinical trial of
INO-4800 can proceed. We remain encouraged by the safety and
tolerability data we have observed thus far, as well as its
excellent thermostability profile - making it possible to
manufacture at scale and transport vaccine without frozen cold
chain requirements. INO-4800 also maintains the ability to be
safely readministered and is differentiated by its ability to
stimulate CD8 T cell responses. As we await a response from the
FDA, we are continuing with our partners to plan and prepare for
the next stages of development. INOVIO looks forward to advancing
our efforts to provide a safe and effective vaccine to combat
COVID-19."
INOVIO Third Quarter 2020 Program Updates
DNA Vaccine Candidate
INO-4800: COVID-19
In October, npj Vaccines published an article titled
"Experimental and in silico evidence suggests vaccines are unlikely
to be affected by D614G mutation in SARS-CoV-2 spike
protein." Researchers at the Commonwealth Scientific and
Industrial Research Organization (CSIRO), Australia's national science research agency,
and INOVIO reported that INO-4800 vaccination in a preclinical
model was able to neutralize SARS-CoV-2 viruses with 'D614G'
mutation (Aspartate-to-Glycine change at position 614) of the spike
protein, which has become the dominant variant in the global
COVID-19 pandemic. This latest publication builds off INOVIO's
previous non-human primate (NHP) data which demonstrated
vaccine-generated memory immune responses protected NHPs for more
than 3 months (13 weeks) from the last vaccination of INO-4800.
In September, INOVIO signed a letter of intent with Thermo
Fisher Scientific to manufacture INO-4800. Thermo Fisher joins other contract development
and manufacturing organizations in INOVIO's global manufacturing
consortium. Thermo Fisher plans to
manufacture INO-4800 drug substance as well as perform fill and
finish of INO-4800 drug product at its commercial facilities in
the United States. Thermo Fisher projects that it could produce at
least 100 million doses of INO-4800 annually if the candidate is
approved by regulatory authorities.
DNA Immunotherapies: HPV-related Diseases and
Immuno-Oncology
HPV-related Diseases
VGX-3100: Cervical, vulvar, and anal Precancerous Dysplasia
or HSIL
The global COVID-19 pandemic has impacted the timeline for data
collection for INOVIO's VGX-3100 program. Since the last update in
August, an increasing number of study participants are either not
able or do not feel safe going into healthcare facilities – which
is a normal and necessary component of the collection and
completion of data samples for this double-blind trial. These
concerns are magnified by rising COVID-19 infection rates, surges
in cases globally, and a return to lockdowns in parts of
Europe. As a result, it is taking
longer to complete the data collection process. INOVIO remains
committed to ensuring the safety of study participants, employees,
principal investigators and partners involved in the process,
and the company expects to read out data from VGX-3100 Phase 3
clinical trial REVEAL 1 in the first half of 2021. INOVIO plans to
report the data from anal intraepithelial neoplasia (AIN) and
vulvar intraepithelial neoplasia (VIN) Phase 2 clinical trials in
the fourth quarter of 2020. Additionally, for VIN/AIN, the company
expects to apply for rare and orphan disease designation in the
first half of 2021.
INO-3107: Recurrent Respiratory Papillomatosis (RRP)
In July, INOVIO received Orphan Drug designation from the FDA
for INO-3107 for the treatment of recurrent respiratory
papillomatosis (RRP), a rare, debilitating, and potentially
life-threatening disease currently treated by invasive and
recurrent surgeries. Recruitment recently began in the Phase 1/2
clinical trial to evaluate the efficacy, safety, tolerability and
immunogenicity of INO-3107 in 63 participants with HPV-6 and/or
HPV-11 associated RRP. For more information on the clinical trial
please visit clinicaltrials.gov (Identifier: NCT04398433).
Immuno-oncology
INO-5401: Newly Diagnosed Glioblastoma Multiforme
(GBM)
INOVIO's abstract, titled "INO-5401 and INO-9012 delivered
intramuscularly (IM) with electroporation (EP) in combination with
cemiplimab (REGN2810) in newly diagnosed glioblastoma," was
accepted as a late-breaking presentation at the 24th Annual
Scientific Meeting and Education Day of the Society for
Neuro-Oncology (SNO). The virtual presentation, scheduled for
November 20, will include INO-5401
overall survival at 18 months (OS18) data and preliminary analysis
on T cell immune responses to tumor antigens in both methylation
status groups.
Third Quarter 2020 Financial Results
Total revenue was $236,000 for the
three months ended September 30,
2020, compared to $867,000 for
the same period in 2019. Total operating expenses were $36.6 million compared to $24.8 million for the same period in 2019.
INOVIO's net income for the quarter ended September 30, 2020 was $19.2 million, or $0.12 per basic and $0.11 per diluted share, compared to net loss of
$23.1 million, or $0.23 per basic and $0.25 per diluted share, for the quarter ended
September 30, 2019. The net
income for the 2020 quarter was primarily due to the $35.3 million change in fair value of the
derivative liability related to the embedded conversion feature in
our August 2019 Convertible Bonds,
which was revalued at each reporting period and then immediately
prior to the full conversion of these bonds into shares of the
Company's common stock in August
2020. The Company also recorded a gain on investment in
affiliated entities of $27.0 million
during the quarter, primarily related to the sale of its equity
interest in GeneOne, which is no longer an affiliated entity.
Without the non-cash gain on derivative liability and the gain on
investment in affiliated entities, the Company's net loss for the
quarter would have been $43.1 million
and basic net loss per share would have been $0.26.
Operating Expenses
Research and development (R&D) expenses for the three months
ended September 30, 2020, were
$26.5 million compared to
$19.1 million for the same period in
2019. The increase in R&D expenses was primarily related to an
increase in drug manufacturing expenses related to INO-4800,
VGX-3100 and other clinical trials, an increase in engineering
services related to our CELLECTRA® 3PSP device,
higher employee and contractor compensation, an increase in
consulting services related to COVID-19, higher device inventory
expense and higher employee stock-based compensation expense. These
increases were offset by an increase in contra-research and
development expense recorded from grant agreements of $10.1 million, among other variances.
General and administrative (G&A) expenses were $10.1 million for the three months ended
September 30, 2020, versus
$5.7 million for the same period in
2019. The increase in G&A expenses was primarily related to an
increase in legal expenses and employee and consultant
compensation, including non-cash stock-based compensation, among
other variances.
Capital Resources
As of September 30, 2020, cash and
cash equivalents and short-term investments were $337.2 million compared to $89.5 million as of December 31, 2019. As of September 30, 2020, the Company had 167.5 million
common shares outstanding and 192.1 million common shares
outstanding on a fully diluted basis, after giving effect to the
exercise, vesting and conversion, as applicable, of its outstanding
options, restricted stock units, convertible preferred stock, and
convertible debt.
INOVIO's balance sheet and statement of operations are provided
below. Additional information is included in INOVIO's quarterly
report on Form 10-Q for the quarter ended September 30, 2020, which can be accessed at:
http://ir.inovio.com/financials/default.aspx.
Conference Call / Webcast Information
INOVIO's management will host a live conference call and webcast
at 4:30 p.m. Eastern Time today to
discuss INOVIO's financial results and provide a general business
update.
The live webcast and a replay may be accessed by visiting
INOVIO's website at
http://ir.inovio.com/events-and-presentations/default.aspx.
About INOVIO's Global Coalition Advancing INO-4800
INOVIO has assembled a global coalition of collaborators,
partners and funders to rapidly advance the development of
INO-4800. R&D collaborators to date include the Wistar
Institute, the University of
Pennsylvania, the University of
Texas, Fudan University and the Laval
University. INOVIO has partnered with Advaccine and the
International Vaccine Institute to conduct clinical trials of
INO-4800 in China and South Korea, respectively. INOVIO is also
assessing preclinical efficacy of INO-4800 in several animal
challenge models with Public Health England (PHE) and Commonwealth
Scientific and Industrial Research Organization (CSIRO) in
Australia. INOVIO is also working
with a team of contract manufacturers including Thermo Fisher
Scientific, Richter-Helm BioLogics and Ology Biosciences to produce
INO-4800 and seeking additional external funding and partnerships
to scale up the manufacturing capacities to satisfy the urgent
global demand for a safe and effective vaccine. To date, the
Coalition for Epidemic Preparedness Innovations (CEPI), the Bill
& Melinda Gates Foundation, and the U.S. Department of Defense
have contributed significant funding to the advancement and
manufacturing of INO-4800.
About INO-4800
INO-4800 is INOVIO's DNA vaccine candidate intended to protect
against the novel coronavirus SARS-CoV-2, which causes COVID-19.
INOVIO has extensive experience working with coronaviruses and is
the only company with a Phase 2 vaccine for a related coronavirus
that causes Middle East Respiratory Syndrome (MERS).
INO-4800 is the only nucleic-acid based vaccine that is stable
at room temperature for more than a year and does not need to be
frozen in transport of storage, which are important factors when
implementing mass immunizations.
About INOVIO's DNA Medicines Platform
INOVIO has 15 DNA medicine clinical programs currently in
development focused on HPV-associated diseases, cancer, and
infectious diseases, including coronaviruses associated with MERS
and COVID-19 diseases being developed under grants from the
Coalition for Epidemic Preparedness Innovations (CEPI) and the U.S.
Department of Defense. DNA medicines are composed of optimized DNA
plasmids, which are small circles of double-stranded DNA that are
synthesized or reorganized by a computer sequencing technology and
designed to produce a specific immune response in the body.
INOVIO's DNA medicines deliver optimized plasmids directly into
cells intramuscularly or intradermally using INOVIO's proprietary
hand-held smart device called CELLECTRA®. The CELLECTRA
device uses a brief electrical pulse to reversibly open small pores
in the cell to allow the plasmids to enter, overcoming a key
limitation of other DNA and other nucleic acid approaches, such as
mRNA. Once inside the cell, the DNA plasmids enable the cell to
produce the targeted antigen. The antigen is processed naturally in
the cell and triggers the desired T cell and antibody-mediated
immune responses. Administration with the CELLECTRA device ensures
that the DNA medicine is efficiently delivered directly into the
body's cells, where it can go to work to drive an immune response.
INOVIO's DNA medicines do not interfere with or change in any way
an individual's own DNA. The advantages of INOVIO's DNA medicine
platform are how fast DNA medicines can be designed and
manufactured; the stability of the products, which do not require
freezing in storage and transport; and the robust immune response,
safety profile, and tolerability that have been observed in
clinical trials.
With more than 2,000 patients receiving INOVIO investigational
DNA medicines in more than 7,000 applications across a range of
clinical trials, INOVIO has a strong track record of rapidly
generating DNA medicine candidates with potential to meet urgent
global health needs.
About INOVIO
INOVIO is a biotechnology company focused on rapidly bringing to
market precisely designed DNA medicines to treat and protect people
from infectious diseases, cancer, and diseases associated with HPV.
INOVIO is the first and only company to have clinically
demonstrated that a DNA medicine can be delivered directly into
cells in the body via a proprietary smart device to produce a
robust and tolerable immune response. Specifically, INOVIO's lead
candidate VGX-3100, currently in Phase 3 trials for precancerous
cervical dysplasia, destroyed and cleared high-risk HPV 16 and 18
in a Phase 2b clinical trial.
High-risk HPV is responsible for 70% of cervical cancer, 91% of
anal cancer, and 69% of vulvar cancer. Also in development are
programs targeting HPV-related cancers and a rare HPV-related
disease, recurrent respiratory papillomatosis (RRP);
non-HPV-related cancers glioblastoma multiforme (GBM) and prostate
cancer; as well as externally funded infectious disease DNA vaccine
development programs in Zika, Lassa fever, Ebola, HIV, and
coronaviruses associated with MERS and COVID-19 diseases. Partners
and collaborators include Advaccine, ApolloBio Corporation,
AstraZeneca, The Bill & Melinda Gates Foundation, Coalition for
Epidemic Preparedness Innovations (CEPI), Defense Advanced Research
Projects Agency (DARPA)/Joint Program Executive Office for
Chemical, Biological, Radiological and Nuclear Defense
(JPEO-CBRND)/Department of Defense (DOD), HIV Vaccines Trial
Network, International Vaccine Institute (IVI), Medical CBRN
Defense Consortium (MCDC), National Cancer Institute, National
Institutes of Health, National Institute of Allergy and Infectious
Diseases, Ology Bioservices, the Parker Institute for Cancer
Immunotherapy, Plumbline Life Sciences, Regeneron, Richter-Helm
BioLogics, Thermo Fisher Scientific, University of Pennsylvania, Walter Reed Army
Institute of Research, and The Wistar Institute. INOVIO also is a
proud recipient of 2020 Women on Boards "W" designation recognizing
companies with more than 20% women on their board of directors. For
more information, visit www.inovio.com.
CONTACTS:
Media: Jeff Richardson,
267-440-4211, jrichardson@inovio.com
Investors: Ben Matone, 484-362-0076,
ben.matone@inovio.com
This press release contains certain forward-looking
statements relating to our business, including our plans to develop
DNA medicines, our expectations regarding our research and
development programs, including the planned initiation and conduct
of preclinical studies and clinical trials and the availability and
timing of data from those studies and trials, and our ability to
successfully manufacture and produce large quantities of our
product candidates if they receive regulatory approval. Actual
events or results may differ from the expectations set forth herein
as a result of a number of factors, including uncertainties
inherent in pre-clinical studies, clinical trials, product
development programs and commercialization activities and outcomes,
our ability to secure sufficient manufacturing capacity to mass
produce our product candidates, the availability of funding to
support continuing research and studies in an effort to prove
safety and efficacy of electroporation technology as a delivery
mechanism or develop viable DNA medicines, our ability to support
our pipeline of DNA medicine products, the ability of our
collaborators to attain development and commercial milestones for
products we license and product sales that will enable us to
receive future payments and royalties, the adequacy of our capital
resources, the availability or potential availability of
alternative therapies or treatments for the conditions targeted by
us or our collaborators, including alternatives that may be more
efficacious or cost effective than any therapy or treatment that we
and our collaborators hope to develop, issues involving product
liability, issues involving patents and whether they or licenses to
them will provide us with meaningful protection from others using
the covered technologies, whether such proprietary rights are
enforceable or defensible or infringe or allegedly infringe on
rights of others or can withstand claims of invalidity and whether
we can finance or devote other significant resources that may be
necessary to prosecute, protect or defend them, the level of
corporate expenditures, assessments of our technology by potential
corporate or other partners or collaborators, capital market
conditions, the impact of government healthcare proposals and other
factors set forth in our Annual Report on Form 10-K for the year
ended December 31, 2019, our
Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and other filings we make from
time to time with the Securities and Exchange Commission. There can
be no assurance that any product candidate in our pipeline will be
successfully developed, manufactured or commercialized, that final
results of clinical trials will be supportive of regulatory
approvals required to market products, or that any of the
forward-looking information provided herein will be proven
accurate. Forward-looking statements speak only as of the date of
this release, and we undertake no obligation to update or revise
these statements, except as may be required by law.
INOVIO
Pharmaceuticals, Inc.
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
|
September
30,
2020
|
|
December
31,
2019
|
|
|
|
ASSETS
|
|
|
Current
assets:
|
|
|
Cash and cash
equivalents
|
$
|
178,700,434
|
|
|
$
|
22,196,097
|
|
Short-term
investments
|
158,535,744
|
|
|
67,338,017
|
|
Accounts
receivable
|
7,692,944
|
|
|
700,073
|
|
Accounts receivable
from affiliated entities
|
501,311
|
|
|
1,332,044
|
|
Prepaid expenses and
other current assets
|
31,563,697
|
|
|
1,584,598
|
|
Prepaid expenses and
other current assets from affiliated entities
|
70,543
|
|
|
1,050,140
|
|
Total current
assets
|
377,064,673
|
|
|
94,200,969
|
|
Fixed assets,
net
|
11,190,521
|
|
|
12,773,017
|
|
Investment in
affiliated entities
|
4,154,049
|
|
|
6,315,356
|
|
Investment in
Geneos
|
957,567
|
|
|
—
|
|
Intangible assets,
net
|
3,283,540
|
|
|
3,693,851
|
|
Goodwill
|
10,513,371
|
|
|
10,513,371
|
|
Operating lease
right-of-use assets
|
13,008,571
|
|
|
13,783,009
|
|
Other
assets
|
17,641,755
|
|
|
2,672,024
|
|
Total
assets
|
$
|
437,814,047
|
|
|
$
|
143,951,597
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
Current
liabilities:
|
|
|
Accounts payable and
accrued expenses
|
$
|
23,533,298
|
|
|
$
|
18,237,258
|
|
Accounts payable and
accrued expenses due to affiliated entities
|
794,928
|
|
|
729,729
|
|
Accrued clinical
trial expenses
|
5,841,180
|
|
|
4,049,727
|
|
Deferred
revenue
|
77,878
|
|
|
92,353
|
|
Deferred revenue from
affiliated entities
|
—
|
|
|
31,775
|
|
Operating lease
liability
|
2,264,261
|
|
|
2,074,842
|
|
Grant funding
liability
|
8,616,622
|
|
|
6,065,212
|
|
Grant funding
liability from affiliated entities
|
135,000
|
|
|
708,425
|
|
Total current
liabilities
|
41,263,167
|
|
|
31,989,321
|
|
Deferred revenue, net
of current portion
|
82,927
|
|
|
101,567
|
|
Convertible senior
notes
|
49,537,210
|
|
|
64,180,325
|
|
Convertible
bonds
|
4,151,663
|
|
|
12,842,592
|
|
Derivative
liability
|
—
|
|
|
8,819,023
|
|
Operating lease
liability, net of current portion
|
18,669,643
|
|
|
20,409,922
|
|
Deferred tax
liabilities
|
32,046
|
|
|
32,046
|
|
Grant funding
liability from affiliated entity, net of current portion
|
37,500
|
|
|
135,000
|
|
Other
liabilities
|
39,776
|
|
|
36,943
|
|
Total
liabilities
|
113,813,932
|
|
|
138,546,739
|
|
Stockholders'
equity:
|
|
|
Preferred
stock
|
—
|
|
|
—
|
|
Common
stock
|
167,527
|
|
|
101,361
|
|
Additional paid-in
capital
|
1,205,842,585
|
|
|
742,646,785
|
|
Accumulated
deficit
|
(881,858,432)
|
|
|
(739,785,655)
|
|
Accumulated other
comprehensive income (loss)
|
(247,834)
|
|
|
472,608
|
|
Total Inovio
Pharmaceuticals, Inc. stockholders' equity
|
323,903,846
|
|
|
3,435,099
|
|
Non-controlling
interest
|
96,269
|
|
|
1,969,759
|
|
Total stockholders'
equity
|
324,000,115
|
|
|
5,404,858
|
|
Total liabilities
and stockholders' equity
|
$
|
437,814,047
|
|
|
$
|
143,951,597
|
|
INOVIO
Pharmaceuticals, Inc.
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
|
|
|
Three Months Ended
September 30,
|
Nine Months Ended
September 30,
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
Revenues:
|
|
|
|
|
Revenue under
collaborative research and development arrangements
|
$
|
21,490
|
|
|
$
|
617,427
|
|
|
$
|
167,092
|
|
|
$
|
3,452,422
|
|
Revenue under
collaborative research and development arrangements with affiliated
entities
|
103,684
|
|
|
53,014
|
|
|
1,370,956
|
|
|
179,984
|
|
Miscellaneous
revenue
|
111,004
|
|
|
196,422
|
|
|
292,591
|
|
|
200,036
|
|
Total
revenues
|
236,178
|
|
|
866,863
|
|
|
1,830,639
|
|
|
3,832,442
|
|
Operating
expenses:
|
|
|
|
|
Research and
development
|
26,455,112
|
|
|
19,137,209
|
|
|
67,942,875
|
|
|
66,013,364
|
|
General and
administrative
|
10,110,506
|
|
|
5,681,441
|
|
|
28,630,370
|
|
|
18,506,570
|
|
Total operating
expenses
|
36,565,618
|
|
|
24,818,650
|
|
|
96,573,245
|
|
|
84,519,934
|
|
Loss from
operations
|
(36,329,440)
|
|
|
(23,951,787)
|
|
|
(94,742,606)
|
|
|
(80,687,492)
|
|
Other income
(expense):
|
|
|
|
|
Interest
income
|
896,710
|
|
|
637,438
|
|
|
2,380,678
|
|
|
2,018,302
|
|
Interest
expense
|
(1,984,046)
|
|
|
(2,428,671)
|
|
|
(7,634,442)
|
|
|
(5,279,702)
|
|
Change in fair value
of derivative liability
|
35,306,000
|
|
|
2,551,453
|
|
|
(75,670,977)
|
|
|
2,551,453
|
|
Gain (loss) on
investment in affiliated entities
|
26,951,898
|
|
|
(485,841)
|
|
|
36,250,341
|
|
|
(1,409,156)
|
|
Net unrealized gain
on available-for-sale equity securities
|
1,315,980
|
|
|
—
|
|
|
624,522
|
|
|
—
|
|
Other income
(expense), net
|
(136,644)
|
|
|
140,956
|
|
|
(714,246)
|
|
|
232,629
|
|
Gain on
deconsolidation of Geneos
|
—
|
|
|
—
|
|
|
4,121,075
|
|
|
—
|
|
Loss on
extinguishment of convertible bonds
|
(8,177,043)
|
|
|
—
|
|
|
(8,177,043)
|
|
|
—
|
|
Gain on
extinguishment of convertible senior notes
|
3,087,595
|
|
|
—
|
|
|
3,087,595
|
|
|
—
|
|
Net income (loss)
before income tax benefit and share in net loss of
Geneos
|
20,931,010
|
|
|
(23,536,452)
|
|
|
(140,475,103)
|
|
|
(82,573,966)
|
|
Income tax
benefit
|
—
|
|
|
—
|
|
|
—
|
|
|
169,571
|
|
Share in net loss of
Geneos
|
(1,759,674)
|
|
|
—
|
|
|
(2,661,431)
|
|
|
—
|
|
Net income
(loss)
|
19,171,336
|
|
|
(23,536,452)
|
|
|
(143,136,534)
|
|
|
(82,404,395)
|
|
Net loss attributable
to non-controlling interest
|
—
|
|
|
445,759
|
|
|
1,063,757
|
|
|
707,214
|
|
Net income (loss)
attributable to Inovio Pharmaceuticals, Inc.
|
19,171,336
|
|
|
(23,090,693)
|
|
|
(142,072,777)
|
|
|
(81,697,181)
|
|
Net income (loss)
per share attributable to Inovio Pharmaceuticals, Inc.
stockholders
|
|
|
|
|
Basic
|
0.12
|
|
|
(0.23)
|
|
|
(0.96)
|
|
|
(0.83)
|
|
Diluted
|
0.11
|
|
|
(0.25)
|
|
|
(0.96)
|
|
|
(0.83)
|
|
Weighted average
number of common shares outstanding
|
|
|
|
|
Basic
|
165,355,540
|
|
|
99,007,985
|
|
|
148,656,454
|
|
|
98,204,375
|
|
Diluted
|
174,376,402
|
|
|
102,807,056
|
|
|
148,656,454
|
|
|
98,204,375
|
|
View original
content:http://www.prnewswire.com/news-releases/inovio-reports-third-quarter-2020-financial-results-301169028.html
SOURCE INOVIO Pharmaceuticals, Inc.