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Inovio Pharmaceuticals (INO) investor relations material
Inovio Pharmaceuticals Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary10 Nov, 2025
Executive summary
Completed rolling BLA submission for INO-3107 targeting RRP, with FDA acceptance expected by year-end 2025 and a potential mid-2026 PDUFA date if priority review is granted.
INO-3107 demonstrated strong clinical efficacy, with 81% of patients reducing surgeries at Year 1 and 91% at Year 2, and a 78% reduction in mean annual surgeries at Year 2.
Commercial launch preparations are underway, including pricing strategy, distribution partnerships, and field force planning.
Advancing next-generation DNA medicine candidates, including DMAb and DPROT technologies, with positive proof-of-concept and preclinical data published and presented.
Pipeline includes INO-3112 for oropharyngeal cancer (Phase 3 planned), INO-5401 for glioblastoma, and other DNA medicine candidates for HPV-related and infectious diseases.
Financial highlights
Operating expenses for Q3 2025 were $21.2 million, down 22% year-over-year; nine-month operating expenses were $69.4 million, down 25% year-over-year.
Net loss for Q3 2025 was $45.5 million ($0.87 per share), mainly due to a $22.5 million non-cash loss on warrant liabilities; nine-month net loss was $88.7 million.
Cash, cash equivalents, and short-term investments totaled $50.8 million at September 30, 2025, with a projected cash runway into Q2 2026.
Revenue for Q3 2025 was $0; nine months ended September 30, 2025 revenue was $65,000, all from ApolloBio collaboration.
R&D expenses for Q3 2025 decreased to $13.3 million from $18.7 million year-over-year, mainly due to lower INO-3107 costs.
Outlook and guidance
Focused on FDA acceptance of INO-3107 BLA by year-end and preparing for a potential commercial launch in mid-2026.
Confirmatory trial for INO-3107 to be initiated and patient enrolled prior to approval, with design discussions ongoing with FDA.
Cash runway expected to last into Q2 2026; additional capital will be sought to fund operations beyond that period.
Pipeline programs (INO-3112, INO-5401, and DPROT/DMAb) to be advanced as resources allow, with partnership opportunities being explored.
Confirmatory trial design post-Papzimeos approval
DMAb/DPROT pipeline advancement strategy
How to leverage 3107's no MRD surgery benefit
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Next Inovio Pharmaceuticals earnings date
Piper Sandler 37th Annual Healthcare Conference2 Dec, 2025
Next Inovio Pharmaceuticals earnings date
Piper Sandler 37th Annual Healthcare Conference2 Dec, 2025
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Frequently asked questions
Inovio Pharmaceuticals Inc is a biotechnology company focused on the discovery, development, and commercialization of DNA medicines. The company’s research areas include infectious diseases, cancer immunotherapy, and rare diseases. Inovio develops DNA-based immunotherapies and vaccines delivered through its proprietary platform. The company is headquartered in Plymouth Meeting, Pennsylvania, and its shares are listed on the NASDAQ.
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