Inovio Pharma (INO) Tops Q1 EPS by 3c; Provides Corp. Update

Inovio Pharma (NASDAQ: INO) reported Q1 EPS of ($0.11), $0.03 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $8.1 million versus the consensus estimate of $4.75 million.

Corporate Update

Clinical Development

• Subsequent to the quarter, Inovio held constructive meetings with both FDA (end of phase II) and European Medicines Agency (EMA) providing an affirmative path forward toward an indication for VGX-3100 to treat HPV-16/18-related high grade cervical dysplasia that is consistent with our previously reported expectations to start a pivotal phase III registration study in 2016.
• Interim data from the fully enrolled phase I study of INO-4212 Ebola vaccine in 75 healthy subjects showed it was safe, tolerable, and generated strong T cell and antibody responses.
• Inovio and GeneOne Life Science Inc. began recruitment of the collaborative study of GLS-5300 MERS (Middle East Respiratory Syndrome) vaccine with Walter Reed Army Institute of Research.

Corporate Development

• Subsequent to the quarter, Inovio completed the acquisition of all of Bioject Medical Technologies Inc.’s assets, including pioneering needle-free jet injection technology, devices, and intellectual property, for $5.5 million in cash and stock.
• Received $500,000 grant from the U.S. Army’s Small Business Innovation Research program to advance Inovio’s next generation delivery device capable of administering vaccines via skin-surface, needle-free electroporation delivery.
• Signed collaborative research agreements with the Wistar Institute for therapeutic and preventive DNA-based immunotherapy applications and products for cancers and infectious diseases developed by David B. Weiner, Ph.D., and his Wistar laboratory. Inovio will have the exclusive right to in-license new intellectual property developed in this collaboration.
• VGX-3100 HPV cervical dysplasia immunotherapy recognized as "Best Therapeutic Vaccine" by World Vaccine Congress for fourth consecutive year.

Preclinical Development

• The Journal of Infectious Diseases published the paper, “Rapid and long-term immunity elicited by DNA encoded antibody prophylaxis and DNA vaccination against Chikungunya virus,” highlighting Inovio’s DNA-based monoclonal antibody technology.
• Preclinical testing of Zika virus synthetic vaccine induced robust and durable immune responses. The first clinical study of Inovio’s Zika vaccine is on track to start in 2016.

For earnings history and earnings-related data on Inovio Pharma (INO) click here.

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