Inovio Pharma (INO) Misses Q1 EPS by 4c, Revenues Miss

Inovio Pharma (NASDAQ: INO) reported Q1 EPS of ($0.26), $0.04 worse than the analyst estimate of ($0.22). Revenue for the quarter came in at $1.33 million versus the consensus estimate of $1.91 million.

INOVIO's President and Chief Executive Officer Dr. J. Joseph Kim said, "INOVIO had a very productive first quarter, laying the foundation for a transformative year for the company. Our recent and ongoing clinical developments across all of our programs continue to demonstrate the differentiating value and broad applicability of our DNA medicines platform. When the COVID-19 pandemic emerged in early January, INOVIO was able to leverage its DNA medicines platform and early funding from CEPI to be one of the first companies to advance a vaccine candidate for COVID-19 into a Phase 1 clinical trial. INOVIO's dedicated team of vaccine developers was able to quickly build and expand a global coalition of collaborators, partners, manufacturers, and funders to advance the INO-4800 program.

"Most importantly, while safely conducting global clinical trials during this COVID pandemic has been a significant challenge, INOVIO is on track to deliver key 2020 clinical and regulatory milestones including the planned reporting of REVEAL 1 Phase 3 top-line efficacy data for VGX-3100 in Q4 and the presentation of 12-month overall survival results from the Phase 1/2 clinical trial of INO-5401 immunotherapy in a very hard to treat cancer in glioblastoma multiforme (GBM) at the ASCO20 Virtual Conference later this month."

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

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