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MARKETS / NASDAQ / INO
NASDAQ · PHARMACEUTICAL PREPARATIONS · SMALL CAP

Inovio Pharmaceuticals, Inc. INO

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$65,343
▼ 70.0% YoY
$-84.9M
$-88.9M
In brief

What this company does

We use proprietary technology to design DNA plasmids, which are small circular DNA molecules that work like software the body’s cells can download to produce specific proteins to target and fight disease. Our proprietary investigational CELLECTRA® devices are designed to deliver the plasmids into the body’s cells for optimal effect, without the use of chemical adjuvants, lipid nanoparticles or viral vectors. Our lead candidate is INO-3107 for the treatment of recurrent respiratory papillomatosis, or RRP, a chronic, rare and debilitating disease characterized by the growth of small tumors, or papillomas, in the respiratory tract primarily caused by HPV-6 and/or HPV-11 genotypes. Other products in our development pipeline include INO-3112, a DNA immunotherapy candidate targeting HPV-16/-18 combined with a DNA plasmid encoding for human IL-12 as an immune activator, for the treatment of oropharyngeal squamous cell carcinoma, or OPSCC, a type of head and neck cancer commonly known as throat cancer. We are also developing mid-stage candidate INO-5401 in combination with INO-9012 as a potentially powerful cancer immunotherapy in combination with checkpoint inhibitors.

Written from the business description in Inovio Pharmaceuticals, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth
USD 65,343.00
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 0.1 · Net income -84.9
20M40M-200M200920112013201520172019202120232025
Compound annual growth
−81.5%
−61.2%
−47.4%
−26.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −61.2% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−130000 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -132871.3% · Net -130000.0%
-50000%-100000%200920112013201520172019202120232025
ROE
FY2025 · ROE -183.5%
-100%-200%200920112013201520172019202120232025

Each USD of equity lost 183 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -88.9
-80M-160M200920112013201520172019202120232025

Total assetsUSD 74.3M
EquityUSD 24.1M
CashUSD 44.3M
Current ratio1.40×

Equity funds 32% of total assets.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
Operating income $B−0.1−0.1−0.1−0.3−0.3−0.1−0.1−0.1−0.1−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B−0.1−0.1−0.1−0.3−0.3−0.1−0.1−0.1−0.1−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Income tax $B0.00.00.00.00.00.0−0.00.00.00.0−0.00.00.00.00.00.0·
Net income $B−0.1−0.1−0.1−0.3−0.3−0.2−0.1−0.1−0.1−0.1−0.0−0.0−0.1−0.0−0.0−0.0−0.0
Free cash flow $B−0.1−0.1−0.1−0.2−0.2−0.2−0.1−0.1−0.1−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EPS, diluted $−1.81−3.95−6.09−14.07−17.45−1.07−1.21−1.05−1.09−1.01−0.44−0.64−1.43−0.58−0.12−0.17−0.33
Dividend / sh $·················
Payout %·················
ROE %−183.5−115.4−79.5−90.0−70.6−71.6−264.2−84.6−66.4−49.3−20.3−44.1−152.1−48.2−32.5−37.9·
Shares out B0.070.040.020.020.220.190.100.100.090.070.070.060.050.140.130.11·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 65 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 11 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityPharmaceutical Preparations
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2009

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