PLYMOUTH MEETING, Pa.,
March 1, 2022 /PRNewswire/ -- INOVIO
(NASDAQ:INO), a biotechnology company focused on developing and
commercializing DNA medicines to help protect people from
infectious diseases and help treat people with cancer and
HPV-associated diseases, today reported financial results for the
quarter and year ended December 31,
2021. INOVIO's management will host a live conference call
and webcast at 4:30 p.m. Eastern Time
today to discuss financial results and provide a general business
update. The live webcast and replay may be accessed by visiting
INOVIO's website at
http://ir.inovio.com/events-and-presentations/default.aspx.
Dr. J. Joseph Kim, President and
CEO of INOVIO, said, "COVID-19 represents a continued and
persistent threat to the health of our global community. The highly
transmissible Omicron variant underscores the ongoing challenge to
improve access to both primary vaccines and boosters. In in
vitro testing we observed that INO-4800 maintained robust T
cell responses against the Omicron variant, even though we saw
significantly decreased levels of both neutralizing and binding
antibodies against Omicron, consistent with the vaccines of other
developers. Based on these preserved T cell responses, INOVIO plans
to seek approval to amend the primary endpoint of the INNOVATE
Phase 3 trial to prevention of severe disease. INOVIO is also
evaluating the feasibility of conducting an additional heterologous
boost trial for INO-4800, which, if undertaken, would complement
the booster trial underway with INOVIO's partner Advaccine in
China."
"In parallel with our COVID-19 efforts, we are also pleased with
the clinical progress to date across our DNA medicines platform,
including our therapeutic programs in HPV-associated diseases. In
the fourth quarter, we completed enrollment of REVEAL2, our second
global Phase 3 clinical trial of VGX-3100 for cervical pre-cancer.
In addition, we recently completed enrollment in our Phase 1/2
clinical trial for INO-3107, our DNA immunotherapy for the rare
disease recurrent respiratory papillomatosis (RRP), which received
orphan drug designation from the U.S. FDA. We have also completed
enrollment in a Phase 1b trial for
Lassa fever, a Phase 1b trial for an
Ebola vaccine booster, as well as the first part of our Phase 2
trial for Middle East Respiratory Syndrome (MERS), showcasing the
depth and breadth of our DNA medicines pipeline to support global
public health efforts against potential pandemic threats," said Dr.
Kim.
INOVIO 4Q21 and Year-End 2021 Highlights:
- INO-4800 was observed to provide full maintenance of T cell
responses, but significantly decreased levels of antibodies against
the Omicron variant in line with results observed with other
COVID-19 vaccines.
- INOVIO plans to seek regulatory approval to amend the primary
endpoint of the INNOVATE Phase 3 trial from prevention of
virologically confirmed COVID-19 disease to prevention of severe
disease due to COVID-19. INOVIO has paused enrollment in INNOVATE
in preparation for this potential change.
- The Company is evaluating the feasibility of pursuing an
INOVIO-sponsored heterologous boost non-inferiority clinical trial
with INO-4800 compared to viral vector and inactivated COVID-19
vaccines.
- INOVIO's partner Advaccine completed enrollment of its
200-participant homologous and 267-participant heterologous boost
trial with INO-4800 in China.
- INO-4800 was selected by the World Health Organization (WHO)
for inclusion in a global Phase 3 trial for COVID-19 (Solidarity
Trial Vaccines).
- REVEAL2, the second of two Phase 3 trials for VGX-3100 for
cervical high-grade squamous intraepithelial lesions (HSIL),
completed enrollment, with top-line efficacy and safety data
anticipated in the second half of 2022.
- INOVIO completed enrollment of its Phase 1/2 trial of INO-3107
for RRP.
- Enrollment completed for the Phase 1b heterologous booster clinical trial of
INO-4201 as a potential Ebola booster vaccine in collaboration with
GuardRX and Geneva University Hospitals, an effort funded by the
Defense Advanced Research Projects Agency (DARPA).
Fourth Quarter and Year-End Program Updates
Infectious Diseases
INO-4800: COVID-19
INO-4800 Omicron Assessment
INOVIO conducted an in vitro assessment of the
cross-reactivity of INO-4800 vaccine-induced immune responses
against the Omicron variant of SARS-CoV-2. Testing demonstrated a
maintenance of T cell responses, including CD8+ responses, but as
seen with the vaccines of other developers, significantly decreased
levels of both neutralizing and binding antibodies against
Omicron.
INOVIO observed full maintenance of T cell responses against the
Omicron variant in clinical samples from participants who had
received INO-4800. The maintenance and preservation of T cell
responses continue to remain a consistent observation for INO-4800
against the ancestral COVID-19 virus and across all variants of
concern (VOCs) tested to date, including Omicron. The Company
believes this is a critical observation as T cell responses are
thought to play an important role1 in protection against
severe disease2 and death and may be central to the
durability of vaccine protection.
INO-4800 in INNOVATE Phase 3 Trial
In response to the dominance of the Omicron variant globally and
the persistence of cross-reactive T cell responses generated by
INO-4800, including CD8+, across all variants of concern
to date, INOVIO plans to seek regulatory approval to amend the
primary endpoint of INNOVATE from prevention of virologically
confirmed COVID-19 disease to prevention of severe disease due to
COVID-19. The Company believes INO-4800's ability to generate T
cell responses could be critical in meeting the proposed amended
primary endpoint.
In addition, to reflect the potential impact of the Omicron
variant on INNOVATE, the Data Safety Monitoring Board (DSMB)
recommended that INOVIO pause enrollment of new participants in the
global Phase 3 clinical trial of INO-4800 in order to update the
Informed Consent Form and Investigator Brochure. As a result of the
DSMB's recommendation, as well as the company's plans to seek
approval to amend the trial's primary endpoint, INOVIO has paused
enrollment of new participants in INNOVATE. Interim efficacy data
from INNOVATE will therefore not be available in the first half of
2022 as previously expected.
Heterologous and Homologous Boost Trials
INOVIO's partner Advaccine has completed enrollment of its
200-participant homologous and 267-participant heterologous boost
trials in China. The trials are
designed to evaluate safety, tolerability, and immunogenicity of
INO-4800 as a homologous boost where INO-4800 was administered as
the primary vaccine and as a heterologous boost in which
inactivated vaccines were administered as the primary vaccine.
INOVIO is evaluating the feasibility of an additional ex-US
heterologous boost (vaccination with a different vaccine from the
primary series) trial with INO-4800 as a booster in a
non-inferiority clinical trial compared to viral vector and
inactivated COVID-19 vaccines. Currently licensed vaccines may not
meet the global demand for boosters to address waning protection
from these primary vaccinations, a need which some regulatory
agencies are considering with respect to evaluating clinical
pathways for heterologous boost vaccines. Key features of INOVIO's
DNA vaccine technology that make it a potentially favorable primary
and booster candidate include generating T-cell responses against
multiple variants of concern, lack of anti-vector immunity,
tolerability of re-administration, and thermostability for
transport, storage, and distribution.
Solidarity Trial Vaccines
INO-4800 is one of two COVID-19 vaccine candidates currently
being tested in a large, international, randomized controlled Phase
3 clinical trial, called the Solidarity Trial Vaccines, being
funded, sponsored, and conducted by the World Health Organization
(WHO). INO-4800 was selected for inclusion in the Solidarity Trial
Vaccines by the WHO's independent vaccine prioritization advisory
group.
INO-4500: Lassa Fever
In October 2021 INOVIO announced
that the Phase 1b clinical trial for
INO-4500, its DNA vaccine candidate for Lassa fever, completed full
enrollment of 220 participants. This Phase 1b trial (LSV-002 - NCT04093076), which is funded
by Coalition for Epidemic Preparedness Innovations (CEPI) is
ongoing at the Noguchi Memorial Institute for Medical Research in
Accra, Ghana, and is the first
vaccine clinical trial for Lassa fever conducted in West Africa, where the viral illness is
endemic. The dosing regimen involved two intradermal vaccinations
at 0 and 28 days with either 1.0 mg or 2.0 mg doses. In addition to
providing insights on the INO-4500 safety and immunogenicity
profile, this trial will inform dose selection for subsequent Phase
2 trials in West Africa.
INO-4700: Middle East Respiratory Syndrome (MERS)
INOVIO has dosed and completed enrollment for the first part
(dose finding stage) of the Phase 2 trial (192 participants) of
INO-4700 against Middle East Respiratory Syndrome (MERS), a disease
in the coronavirus family for which there are no approved
vaccines.
The multi-center Phase 2 trial is a randomized, double-blinded,
placebo-controlled trial designed to evaluate the safety,
tolerability, and immunogenicity of INO-4700 in approximately 500
healthy adult participants. The trial, which is sponsored by INOVIO
and fully funded by the CEPI, is being conducted at sites in
Jordan, Lebanon, and Kenya, where MERS cases have been
reported.
INO-4201: Ebola
Enrollment of 46 healthy participants has been completed as part
of a randomized, placebo-controlled, Phase 1b clinical trial evaluating the safety,
tolerability, and immunogenicity of INOVIO's Ebola vaccine
candidate INO-4201. The trial (NCT04906629) titled "Phase
1b, Placebo-controlled Randomized
Clinical Trial to Evaluate the Safety, Tolerability and
Immunogenicity of INO-4201 Followed by Electroporation as a Booster
Vaccination in Healthy Volunteers Who Have Previously Received the
VSV-ZEBOV Vaccine" will assess whether INO-4201 can be used as a
booster in participants previously vaccinated with rVSV-ZEBOV
(Ervebo®). Ervebo is a replication-competent, live, attenuated
recombinant vesicular stomatitis virus (rVSV)-based vaccine
approved by the U.S. FDA for the prevention of disease caused by
Zaire ebolavirus in individuals 18
years of age and older as a single-dose administration.
HPV-Associated Diseases
VGX-3100: Cervical HSIL (REVEAL1 / REVEAL2)
INOVIO completed enrollment in REVEAL2, its second global Phase
3 clinical trial of VGX-3100 for cervical HSIL. Top-line efficacy
and safety data are expected to be available in the second half of
2022.
INOVIO completed the 52-week safety follow-up of participants in
REVEAL1 and showed that VGX-3100 remained well-tolerated through
Week 88. In addition, participants treated with VGX-3100 who met
the primary endpoint at Week 36 remained clear of HPV-16 and/or
HPV-18 at Week 88.
Additionally, INOVIO is pleased with progress to date with
partner QIAGEN on the co-development of a liquid biopsy-based
diagnostic product based on next-generation sequencing (NGS)
technology to guide clinical decision-making for the use of
VGX-3100 in cervical HSIL. This biomarker, if validated, may have
the potential to identify those women who are more likely to have a
favorable treatment outcome, specifically the regression of
cervical HSIL and clearance of virus. INOVIO anticipates having
additional information on its biomarker development progress in
2022.
INO-3107: Recurrent Respiratory Papillomatosis (RRP)
Subsequent to year end, the company completed enrollment of
32 participants in its open-label, multicenter Phase 1/2 clinical
trial with INO-3107 in participants with HPV 6 and/or 11-associated
RRP. RRP is a rare disease (estimated at 15,000 active cases in the
U.S.) that is characterized by the growth of tumors in the
respiratory tract caused by the human papillomavirus. The first
participant was dosed in November
2020. All 32 adult participants first underwent surgical
removal of their papilloma(s) and then received four doses of
INO-3107, one every three weeks. The trial is assessing safety,
tolerability, immunogenicity, and efficacy of INO-3107. The company
expects preliminary efficacy data from a portion of participants
from this Phase 1/2 trial in the second half of this year.
INO-3107 previously received orphan drug indication from the
U.S. FDA in July 2020.
Immuno-oncology
INO-5401: Newly Diagnosed Glioblastoma Multiforme
(GBM)
In November 2021, Dr. David Reardon, Clinical Director of the Center
for Neuro-Oncology at Dana-Farber Cancer Institute and the
Coordinating Principal Investigator, presented updated data from
the GBM-001 Phase 2 trial at the Society for Immunotherapy of
Cancer pre-conference workshop. Overall survival at 24 months was
22% (7/32) for the MGMT unmethylated cohort and 55% (11/20) for the
MGMT methylated cohort. The trial showed that INO-5401+INO-9012
with cemiplimab and radiation/TMZ have an acceptable safety
profile, are immunogenic, and may improve survival in newly
diagnosed GBM. We look forward to continuing our investigations
into GBM and other cancers.
Manufacturing
In October 2021, INOVIO signed a
non-binding MOU with Colombia's
Ministry of Health and Social Protection reflecting the intent to
advance efforts to combat the pandemic and endemic threat posed by
COVID-19 and to better prepare for future public health
emergencies. The MOU creates a framework for collaboration by which
INOVIO and the government can explore knowledge sharing, technology
licensing, and capacity building that support developing and
producing vaccines and other biopharmaceuticals in Colombia. The potential results of these
efforts include developing local manufacturing capabilities for
INOVIO's DNA medicines and related products and technologies.
Fourth Quarter and Full Year 2021 Financial Results
Total revenue was $839,000 and
$1.8 million for the quarter and
year-ended December 31, 2021,
respectively, compared to $5.6
million and $7.4 million for
the respective periods in 2020. Total operating expenses were
$106.3 million and $303.0 million for the quarter and year-ended
December 31, 2021, respectively,
compared to $34.9 million and
$131.5 million for the respective
periods in 2020.
INOVIO's net loss for the quarter and year ended December 31, 2021 was $106.9 million, or $0.50 per basic and diluted share, and
$303.7 million, or $1.45 per basic and diluted share, respectively,
compared to net loss of $24.3
million, or $0.14 per basic
and diluted share, and $166.4
million, or $1.07 per basic
and diluted share, for the quarter and year ended December 31, 2020, respectively.
Operating Expenses
Research and development (R&D) expenses for the quarter and
year-ended December 31, 2021, were
$92.3 million and $249.2 million, respectively, compared to
$26.3 million and $94.2 million for the respective periods in 2020.
The year-over-year increase in R&D expenses was primarily
related to higher drug manufacturing, outside services and clinical
trial expenses related to INO-4800, expenses related to the
acquisition and installation of manufacturing equipment related to
INO-4800, higher engineering services, expensed equipment and
inventory related to our CELLECTRA® 3PSP device array
automation project, and higher employee and contractor
compensation, among other variances.
General and administrative (G&A) expenses were $14.0 million and $53.8
million, respectively, for the quarter and year ended
December 31, 2021, versus
$8.6 million and $37.2 million, respectively, for the same periods
in 2020. The year-over-year increase in G&A expenses was
primarily related to an increase in employee compensation,
including non-cash stock-based compensation, due to an increase in
employee headcount, among other variances.
Capital Resources
As of December 31, 2021, cash and
cash equivalents and short-term investments were $401.3 million compared to $411.6 million as of December 31, 2020. As of December 31, 2021, the Company had 217.4 million
common shares outstanding and 234.0 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 annual report
on Form 10-K for the year ended December 31,
2021, 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 replay may be accessed by visiting
INOVIO's website at
http://ir.inovio.com/events-and-presentations/default.aspx.
References
- Noh, J.Y., Jeong, H.W., Kim, J.H. et al. T cell-oriented
strategies for controlling the COVID-19 pandemic. Nat Rev
Immunol 21, 687–688 (2021).
- Rydyznski Moderbacher, C. et al. Antigen-specific adaptive
immunity to SARS-CoV-2 in acute COVID-19 and associations with age
and disease severity. Cell 183, 996–1012 (2020).
About INOVIO
INOVIO is a biotechnology company focused on developing and
commercializing DNA medicines to help protect people from
infectious diseases and help treat people with cancer and
HPV-associated diseases. Our DNA medicines are delivered using our
proprietary smart device to produce a robust and tolerable immune
response against targeted pathogens and cancers. INOVIO is
evaluating candidate VGX-3100 in two Phase 3 trials for
precancerous high-grade cervical dysplasia caused by HPV-16 and/or
HPV-18. INOVIO is also evaluating INO-4800, a DNA vaccine candidate
against COVID-19, in a global Phase 3 trial.
Partners and collaborators include Advaccine, ApolloBio
Corporation, AstraZeneca, The Bill & Melinda Gates Foundation,
Coalition for Epidemic Preparedness Innovations, Defense Advanced
Research Projects Agency/Joint Program Executive Office for
Chemical, Biological, Radiological and Nuclear Defense/Department
of Defense, HIV Vaccines Trial Network, International Vaccine
Institute, Kaneka Eurogentec, Medical CBRN Defense Consortium,
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.
For more information, visit www.inovio.com.
CONTACTS:
Media: Jeff Richardson,
267-440-4211, jeff.richardson@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, 2021 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.
|
CONSOLIDATED
BALANCE SHEETS
|
|
|
December
31,
|
|
2021
|
|
2020
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$71,143,778
|
|
$250,728,118
|
Short-term
investments
|
330,170,940
|
|
160,914,935
|
Accounts
receivable
|
5,466,850
|
|
18,559,967
|
Accounts receivable
from affiliated entities
|
2,565,194
|
|
503,782
|
Prepaid expenses and
other current assets
|
38,836,991
|
|
40,357,456
|
Prepaid expenses and
other current assets from affiliated entities
|
261,192
|
|
106,432
|
Total current
assets
|
448,444,945
|
|
471,170,690
|
Fixed assets,
net
|
17,453,206
|
|
11,348,144
|
Investments in
affiliated entity
|
3,906,796
|
|
4,460,366
|
Investment in
Geneos
|
—
|
|
434,387
|
Intangible assets,
net
|
2,626,355
|
|
3,146,770
|
Goodwill
|
10,513,371
|
|
10,513,371
|
Operating lease
right-of-use assets
|
11,571,026
|
|
12,741,296
|
Other
assets
|
1,425,794
|
|
25,957,448
|
Total
assets
|
$495,941,493
|
|
$539,772,472
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
Current
liabilities:
|
|
|
|
Accounts payable and
accrued expenses
|
$47,644,530
|
|
$21,203,808
|
Accounts payable and
accrued expenses due to affiliated entities
|
548,032
|
|
642,969
|
Accrued clinical
trial expenses
|
10,326,266
|
|
9,950,345
|
Deferred
revenue
|
21,628
|
|
46,628
|
Operating lease
liability
|
2,603,956
|
|
2,329,394
|
Grant funding
liability
|
4,559,721
|
|
7,474,310
|
Grant funding
liability from affiliated entities
|
37,500
|
|
58,500
|
Total current
liabilities
|
65,741,633
|
|
41,705,954
|
Deferred revenue, net
of current portion
|
64,361
|
|
79,214
|
Convertible senior
notes
|
14,959,647
|
|
14,139,988
|
Convertible
bonds
|
—
|
|
4,515,834
|
Operating lease
liability, net of current portion
|
15,459,559
|
|
18,063,515
|
Deferred tax
liabilities
|
32,046
|
|
32,046
|
Grant funding
liability from affiliated entity, net of current portion
|
—
|
|
37,500
|
Other
liabilities
|
14,826
|
|
57,663
|
Total
liabilities
|
96,272,072
|
|
78,631,714
|
Commitments and
contingencies
|
|
|
|
Inovio
Pharmaceuticals, Inc. stockholders' equity:
|
|
|
|
Preferred stock—par
value $0.001; Authorized shares: 10,000,000, issued and
outstanding shares: 9 at December 31, 2021 and 2020
|
—
|
|
—
|
Common stock—par
value $0.001; Authorized shares: 600,000,000 at December 31,
2021 and 2020, issued and outstanding: 217,382,887 at December 31,
2021 and
186,851,493 at December 31, 2020
|
217,382
|
|
186,851
|
Additional paid-in
capital
|
1,609,589,797
|
|
1,367,406,869
|
Accumulated
deficit
|
(1,209,855,522)
|
|
(906,196,812)
|
Accumulated other
comprehensive income (loss)
|
(282,236)
|
|
(256,150)
|
Total Inovio
Pharmaceuticals, Inc. stockholders' equity
|
399,669,421
|
|
461,140,758
|
Total liabilities
and stockholders' equity
|
$495,941,493
|
|
$539,772,472
|
Inovio
Pharmaceuticals, Inc.
|
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
|
|
For the Year ended
December 31,
|
|
2021
|
|
2020
|
|
2019
|
Revenues:
|
|
|
|
|
|
Revenue under
collaborative research and development arrangements
|
$902,260
|
|
$5,170,586
|
|
$3,636,945
|
Revenue under
collaborative research and development arrangements from affiliated
entities
|
245,310
|
|
1,453,730
|
|
235,649
|
Other
revenue
|
627,188
|
|
786,904
|
|
237,536
|
Other revenue from
affiliated entities
|
—
|
|
—
|
|
1,800
|
Total
revenues
|
1,774,758
|
|
7,411,220
|
|
4,111,930
|
Operating
expenses:
|
|
|
|
|
|
Research and
development
|
249,240,324
|
|
94,245,436
|
|
88,017,319
|
General and
administrative
|
53,752,353
|
|
37,247,828
|
|
27,203,156
|
Total operating
expenses
|
302,992,677
|
|
131,493,264
|
|
115,220,475
|
Loss from
operations
|
(301,217,919)
|
|
(124,082,044)
|
|
(111,108,545)
|
Other income
(expense):
|
|
|
|
|
|
Interest
income
|
3,363,080
|
|
3,311,846
|
|
2,605,981
|
Interest
expense
|
(1,936,447)
|
|
(8,702,450)
|
|
(7,948,539)
|
Change in fair value
of derivative liability
|
—
|
|
(75,670,977)
|
|
(1,763,652)
|
Gain (loss) on
investment in affiliated entities
|
(553,570)
|
|
36,556,658
|
|
(3,090,557)
|
Net unrealized gain
(loss) on available-for-sale equity securities
|
(3,222,838)
|
|
1,695,497
|
|
—
|
Other income
(expense), net
|
343,371
|
|
(704,896)
|
|
496,200
|
Gain on
deconsolidation of Geneos
|
—
|
|
4,121,075
|
|
—
|
Loss on
extinguishment of convertible bonds
|
—
|
|
(8,177,043)
|
|
—
|
Gain on
extinguishment of convertible senior notes
|
—
|
|
8,762,030
|
|
—
|
Net loss before
income tax benefit
|
(303,224,323)
|
|
(162,890,304)
|
|
(120,809,112)
|
Income tax
benefit
|
—
|
|
—
|
|
257,335
|
Share in net loss of
Geneos
|
(434,387)
|
|
(4,584,610)
|
|
—
|
Net
loss
|
(303,658,710)
|
|
(167,474,914)
|
|
(120,551,777)
|
Net loss attributable
to non-controlling interest
|
—
|
|
1,063,757
|
|
1,192,558
|
Net loss
attributable to Inovio Pharmaceuticals, Inc.
|
$(303,658,710)
|
|
$(166,411,157)
|
|
$(119,359,219)
|
Net loss per share
attributable to Inovio Pharmaceuticals, Inc.
stockholders
|
|
|
|
|
|
Basic and
diluted
|
$(1.45)
|
|
$(1.07)
|
|
$(1.21)
|
Weighted average
number of common shares outstanding
|
|
|
|
|
|
Basic and
diluted
|
208,829,801
|
|
155,126,857
|
|
98,717,999
|
View original
content:https://www.prnewswire.com/news-releases/inovio-reports-fourth-quarter-2021-and-year-end-financial-results-301493246.html
SOURCE INOVIO Pharmaceuticals, Inc.