INO · XBRL financial data
Inovio Pharmaceuticals financial statements, every fiscal year
The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (INO's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | †Dec 31, 2023 | †Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Revenue from contracts with customers | 7 | 2 | 10 | 1 | 0 | 0 |
| Research and development | 94 | 249 | 188 | 87 | 76 | 54 |
| General and administrative | 37 | 54 | 90 | 48 | 37 | 33 |
| Total operating expenses | 131 | 303 | 278 | 145 | 113 | 87 |
| Operating income (loss) | (124) | (301) | (268) | (144) | (112) | (87) |
| Interest income | — | — | — | 8 | 5 | 2 |
| Interest expense | 9 | 2 | 1 | 1 | 0 | 0 |
| Other income (expense) | (1) | 0 | (4) | (5) | (3) | (3) |
| Income tax expense (benefit) | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income (loss) | (166) | (304) | (280) | (135) | (107) | (85) |
| Earnings per share, basic‡ USD per share | (12.84) | (17.40) | (14.04) | (73.08) | (3.95) | (1.81) |
| Earnings per share, diluted‡ USD per share | (12.84) | (17.40) | (14.04) | (73.08) | (3.95) | (1.81) |
| Weighted average shares, basic‡ millions of shares | 13 | 17 | 20 | 2 | 27 | 47 |
| Weighted average shares, diluted‡ millions of shares | 13 | 17 | 20 | 2 | 27 | 47 |
- ‡ Per-share figures and share counts are adjusted for the 1-for-12.000048000192 stock split (January 2024); filings made before it reported them unadjusted.
- † Share count changed about 1/11 in the period ending 2023-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 19x in the period ending 2024-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Balance sheet
CSVFiscal years (INO's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | †Dec 31, 2023 | †Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 251 | 71 | 46 | 14 | 66 | 44 |
| Short-term investments | 161 | 330 | 207 | 131 | 28 | 14 |
| Accounts receivable | 19 | 5 | 2 | 2 | 1 | 0 |
| Prepaid and other current assets | 40 | 39 | 50 | 5 | 3 | 3 |
| Total current assets | 471 | 448 | 315 | 153 | 98 | 61 |
| Property and equipment, net | 11 | 17 | 8 | 5 | 4 | 3 |
| Right-of-use asset | 13 | 12 | 10 | 9 | 8 | 7 |
| Goodwill | 11 | 11 | 11 | 0 | — | — |
| Total assets | 540 | 496 | 349 | 171 | 113 | 74 |
| Total current liabilities | 42 | 66 | 97 | 43 | 35 | 44 |
| Lease liability, non-current | 18 | 15 | 13 | 11 | 9 | 7 |
| Total liabilities | 79 | 96 | 126 | 54 | 45 | 50 |
| Accumulated deficit | (906) | (1,210) | (1,488) | (1,623) | (1,730) | (1,815) |
| Total stockholders' equity | 461 | 400 | 222 | 117 | 69 | 24 |
| Total liabilities and equity | 540 | 496 | 349 | 171 | 113 | 74 |
| Common shares outstanding (cover page)‡ millions of shares | 17 | 18 | 22 | 2 | 37 | 69 |
- ‡ Per-share figures and share counts are adjusted for the 1-for-12.000048000192 stock split (January 2024); filings made before it reported them unadjusted.
- † Share count changed about 1/11 in the period ending 2023-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 19x in the period ending 2024-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Cash flows
CSVFiscal years (INO's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | †Dec 31, 2023 | †Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Net income (loss) | (166) | (304) | (280) | (135) | (107) | (85) |
| Stock-based compensation | 16 | 26 | 23 | 11 | 7 | 4 |
| Net cash from operating activities | (178) | (216) | (216) | (124) | (104) | (89) |
| Purchases of property and equipment | 2 | 1 | 1 | 0 | 0 | 0 |
| Net cash from investing activities | (59) | (175) | 110 | 87 | 104 | 14 |
| Proceeds from issuing common stock | 454 | 209 | 83 | 5 | 36 | 35 |
| Proceeds from long-term debt | 0 | 0 | — | — | — | — |
| Net cash from financing activities | 465 | 211 | 82 | 5 | 51 | 53 |
| Net change in cash | 229 | (180) | (25) | (32) | 52 | (22) |
- † Share count changed about 1/11 in the period ending 2023-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 19x in the period ending 2024-12-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Compare with peers
SIC 2834 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 2834 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- Runway shows only for companies burning cash with under $10B of public float.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
- A cell reading “not reported” means the filings give no figure for that quarter alone.
| Company | Cash ($M) | Revenue, quarter ($M) | Operating cash flow, quarter ($M) | Shares outstanding | Runway | Quarter |
|---|---|---|---|---|---|---|
| Inovio Pharmaceuticals | 32 | 0 | (18)* | 103.4M | 2.0 quarters | 10-QJun 30, 2026 |
| Macrogenics | 114 | 33 | (41)* | 63.7M | 2.8 quarters | 10-QJun 30, 2026 |
| Volitionrx | 2.8 | 0.4 | (5.2)* | 13.6M | 0.5 quarters | 10-QJun 30, 2026 |
| Gyre Therapeutics | 43 | 29 | (17)* | 111.5M | 3.4 quarters | 10-QJun 30, 2026 |
| Oncolytics Biotech | 4.1 | not reported | (8.1)* | 127.5M | 0.5 quarters | 10-QJun 30, 2026 |
| Seres Therapeutics | 16 | 0.7 | (22)* | 9.9M | 0.7 quarters | 10-QJun 30, 2026 |
| XBiotech | 110 | not reported | (4.5)* | 30.5M | 24.3 quarters | 10-QJun 30, 2026 |
| Oramed Pharmaceuticals | 15 | not reported | (0.2)* | 41.6M | 80.5 quarters | 10-QJun 30, 2026 |
| Corbus Pharmaceuticals Holdings | 23 | not reported | (30)* | 19.3M | 4.0 quarters | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.