Inovio Pharmaceuticals 2025 Q3 Earnings Narrowed Loss per Share Amid Widening Net Loss

Inovio Pharmaceuticals (INO) reported Q3 2025 earnings that beat Wall Street expectations, with a loss of $0.87 per share compared to the estimated $0.51 loss. The company maintained its cash runway through Q2 2026, , driven by non-cash warrant liabilities. Analysts remain optimistic, , reflecting confidence in its pipeline and cost discipline.

Revenue

.

Earnings/Net Income

. Meanwhile, , . While the EPS showed a 2.2% improvement, the widened net loss highlights ongoing financial challenges despite cost reductions.

Post-Earnings Price Action Review

Historical data suggests a favorable post-earnings strategy for INO, with a 17.5% cumulative return over three years when holding for 30 days after a flat quarter-over-quarter revenue report. This translates to an average annual return of approximately 5.8%, indicating a viable medium-term approach despite modest gains driven by market and sector dynamics.

CEO Commentary

, CEO, highlighted completing the rolling BLA submission for INO-3107 as a key 2025 milestone, positioning it as Inovio’s first BLA and a critical step toward addressing the RRP market. She emphasized the product’s differentiators—superior tolerability, reduced , and a patient-centric regimen—as strategic priorities to secure market share despite being a second entrant. Strategic focus remains on commercial readiness, including partnerships and launch planning, alongside advancing next-gen DNA platforms (DMAb/DPROT). Leadership expressed optimism, citing clinical data showing 50%-100% surgery reduction in trials and confidence in INO-3107’s potential to become the “product of choice” for RRP patients.

Guidance

Inovio expects FDA BLA acceptance by year-end 2025, with a potential PDUFA date in mid-2026 under priority review; a Type D meeting is planned to finalize confirmatory trial design. Financially, Q3 2025 net loss was $45.5M (EPS -$0.87), with operating expenses down 22% YoY to $21.2M. Cash balances stood at $50.8M, projected to last through Q2 2026, . , despite ’ first-mover advantage.

Additional News

Inovio announced a common stock offering, granting a 30-day option to purchase additional shares, aiming to bolster its cash reserves. The company also completed its rolling BLA submission for INO-3107, targeting FDA acceptance by year-end 2025, with a potential mid-2026 launch. Additionally, , reflecting market skepticism about capital-raising activities. These developments underscore Inovio's strategic focus on regulatory milestones and financial stability ahead of its key product launch.