Piper Affirms Inovio Pharma (INO) at 'Overweight' Amid Increasingly Visible Clinical Progress
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August 9, 2016 6:49 AM EDT
Maxim Group downgraded Inovio Pharmaceuticals (NASDAQ: INO) from Buy to Hold, citing few drivers near-term for upside.
Analyst Jason McCarthy commented:
Inovio reported 2Q16 earnings (*next bullet). What's critical now is the fact that Inovio is burning up to $100M a year, in our view. We recognize Inovio does have revenues that partially offset the burn rate. These include license fees like the one paid upfront by AstraZenca ($27M) for the VGX-3100 technology (in this case INO-3112). We believe in Inovio's platform and technology, but the key challenge that we... More
August 8, 2016 8:04 AM EDT
Inovio Pharma (NASDAQ: INO) reported Q2 EPS of ($0.26), $0.05 worse than the analyst estimate of ($0.21). Revenue for the quarter came in at $6.2 million versus the consensus estimate of $4.95 million.
As of June 30, 2016, cash and cash equivalents and short-term investments were $134.5 million compared with $163.0 million as of... More
