Inovio Pharmaceuticals Reports 2016 Fourth Quarter and Year End Financial Results
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Maxim Group Upgrades Inovio Pharmaceuticals (INO) to Buy
March 16, 2017 7:28 AM EDTMaxim Group upgraded Inovio Pharmaceuticals (NASDAQ: INO) from Hold to Buy with a price target of $10.00.
Analyst Jason McCarthy highlighted:
Inovio reported YE16 with $35M in revenue (grants, collaborations) and $112M in operating expenses for a net loss of $74M. The company ended the year with $105M in cash. We expect Inovio will continue to receive grant and collaborative revenue in 2017 which will partially offset operating expenses.... More