INO Chart
About

Inovio Pharmaceuticals, Inc., a biotechnology company, focuses on the discovery, development, and commercialization of DNA medicines to treat and protect people from diseases associated with human papillomavirus (HPV), cancer, and infectious diseases. Its DNA medicines platform uses precisely designed SynCon that identify and optimize the DNA sequence of the target antigen, as well as CELLECTRA smart devices technology that facilitates delivery of the DNA plasmids. Its products in pipeline include VGX-3100 for the treatment of HPV-related cervical high-grade dysplasia; INO-3107 for HPV-related recurrent respiratory papillomatosis and is under Phase 1/2 trial; INO-3112 for the treatment of HPV-related Oropharyngeal Squamous Cell Carcinoma and is under Phase 2 trial; INO-5401 for the treatment of glioblastoma multiforme and is under Phase 2 trial; INO-4201 for Ebola Virus Disease and is under Phase 1b trial; INO-4800 for COVID-19 and is under Phase 3 trial; and INO-6160 for the treatment of human immunodeficiency virus and is under Phase 1 trial. Its partners and collaborators include Advaccine Biopharmaceuticals Suzhou Co, ApolloBio Corporation, AstraZeneca, The Bill & Melinda Gates Foundation, Coalition for Epidemic Preparedness Innovations, Defense Advanced Research Projects Agency, The U.S. Department of Defense, HIV Vaccines Trial Network, International Vaccine Institute, Kaneka Eurogentec, National Cancer Institute, National Institutes of Health, National Institute of Allergy and Infectious Diseases, the University of Pennsylvania, Plumbline Life Sciences, Regeneron Pharmaceuticals, Richter BioLogics, the Walter Reed Army Institute of Research, and The Wistar Institute. The company was incorporated in 1983 and is headquartered in Plymouth Meeting, Pennsylvania.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Biotechnology Market Cap 130.19M
Enterprise Value 60.47M Income -108.09M Sales 182.34K
Book/sh -0.14 Cash/sh 0.95 Dividend Yield —
Payout 0.00% Employees 134 IPO —
P/E — Forward P/E -1.30 PEG —
P/S 714.02 P/B -13.16 P/C —
EV/EBITDA -0.69 EV/Sales 331.62 Quick Ratio 0.74
Current Ratio 0.79 Debt/Eq — LT Debt/Eq —
EPS (ttm) -2.72 EPS next Y -1.45 EPS Growth —
Revenue Growth — Earnings 2026-03-18 ROA -63.56%
ROE -3.28% ROIC — Gross Margin 0.00%
Oper. Margin -492.03% Profit Margin 0.00% Shs Outstand 68.70M
Shs Float 53.35M Short Float 18.19% Short Ratio 8.10
Short Interest — 52W High 2.98 52W Low 1.30
Beta 1.74 Avg Volume 1.44M Volume 542.33K
Target Price $7.63 Recom None Prev Close $1.89
Price $1.90 Change 0.26%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$7.63
Mean price target
2. Current target
$1.90
Latest analyst target
3. DCF / Fair value
$-0.21
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$1.90
Low
$1.80
High
$13.00
Mean
$7.63

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-11-14 reit Piper Sandler Overweight → Overweight $6
2025-08-14 reit HC Wainwright & Co. Neutral → Neutral $3
2025-07-09 init Piper Sandler — → Overweight $5
2025-05-14 reit RBC Capital Sector Perform → Sector Perform $5
2025-05-14 main Oppenheimer Outperform → Outperform $13
2025-03-19 main RBC Capital Sector Perform → Sector Perform $5
2025-03-19 reit HC Wainwright & Co. Neutral → Neutral $3
2025-01-13 main HC Wainwright & Co. Neutral → Neutral $3
2025-01-10 reit JMP Securities Market Outperform → Market Outperform $18
2024-11-18 main HC Wainwright & Co. Neutral → Neutral $5
2024-11-18 main Oppenheimer Outperform → Outperform $15
2024-11-15 main RBC Capital Sector Perform → Sector Perform $6
2024-08-12 main Oppenheimer Outperform → Outperform $33
2024-08-09 main RBC Capital Sector Perform → Sector Perform $8
2024-07-15 reit HC Wainwright & Co. Neutral → Neutral $15
2024-05-14 init Stephens & Co. — → Overweight $20
2024-03-08 main Oppenheimer Outperform → Outperform $40
2024-03-07 reit RBC Capital Sector Perform → Sector Perform $11
2024-01-25 up Oppenheimer Perform → Outperform $4
Insider Transactions
Date Shares Url Text Insider Position Transaction Start Date Ownership
0 2916 — — SUMNER MICHAEL JOHN Officer — 2025-06-30 00:00:00 D
1 2167 — — BENITO SIMON X Director — 2025-05-21 00:00:00 D
2 2167 — — SHEPARD JAY P. Director — 2025-05-21 00:00:00 D
3 2167 — — ZOTH LOTA S Director — 2025-05-21 00:00:00 D
4 2167 — — YARNO WENDY L Director — 2025-05-21 00:00:00 D
5 2167 — — WEINER DAVID B Director — 2025-05-21 00:00:00 D
6 2167 — — DANSEY ROGER D Director — 2025-05-21 00:00:00 D
7 2167 — — MILLER ANN CALBY M.D. Director — 2025-05-21 00:00:00 D
8 4771 — — KIES PETER D Chief Financial Officer — 2025-05-15 00:00:00 D
9 4771 — — HUMEAU LAURENT M Officer — 2025-05-15 00:00:00 D
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems0.000.000.000.00
TaxRateForCalcs0.000.000.000.00
NormalizedEBITDA-108.83M-125.73M-263.06M-293.33M
TotalUnusualItems4.89M-4.66M-7.85M-3.22M
TotalUnusualItemsExcludingGoodwill4.89M-4.66M-7.85M-3.22M
NetIncomeFromContinuingOperationNetMinorityInterest-107.25M-135.12M-279.82M-303.66M
ReconciledDepreciation3.13M3.50M5.50M4.73M
EBITDA-103.95M-130.39M-270.90M-296.56M
EBIT-107.08M-133.89M-276.40M-301.29M
NetInterestIncome4.59M6.91M3.53M1.43M
InterestExpense177.83K1.22M1.25M1.94M
InterestIncome4.77M8.13M4.78M3.36M
NormalizedIncome-112.14M-130.45M-271.97M-300.44M
NetIncomeFromContinuingAndDiscontinuedOperation-107.25M-135.12M-279.82M-303.66M
TotalExpenses112.62M134.26M277.84M302.99M
TotalOperatingIncomeAsReported-112.40M-143.94M-267.57M-301.22M
DilutedAverageShares27.16M22.17M19.89M17.40M
BasicAverageShares27.16M22.17M19.89M17.40M
DilutedEPS-3.95-6.09-14.04-17.45
BasicEPS-3.95-6.09-14.04-17.45
DilutedNIAvailtoComStockholders-107.25M-135.12M-279.82M-303.66M
NetIncomeCommonStockholders-107.25M-135.12M-279.82M-303.66M
NetIncome-107.25M-135.12M-279.82M-303.66M
MinorityInterests0.000.00
NetIncomeIncludingNoncontrollingInterests-107.25M-135.12M-279.82M-303.66M
NetIncomeContinuousOperations-107.25M-135.12M-279.82M-303.66M
EarningsFromEquityInterestNetOfTax0.00-2.17M-434.39K
TaxProvision0.00
PretaxIncome-107.25M-135.12M-277.65M-303.22M
OtherIncomeExpense555.64K-8.60M-13.61M-3.43M
OtherNonOperatingIncomeExpenses-3.16M-4.71M-3.86M343.37K
SpecialIncomeCharges0.00-10.51M0.000.00
ImpairmentOfCapitalAssets0.0010.51M0.000.00
EarningsFromEquityInterest-1.17M773.14K-1.90M-553.57K
GainOnSaleOfSecurity4.89M5.85M-7.85M-3.22M
NetNonOperatingInterestIncomeExpense4.59M6.91M3.53M1.43M
InterestExpenseNonOperating177.83K1.22M1.25M1.94M
InterestIncomeNonOperating4.77M8.13M4.78M3.36M
OperatingIncome-112.40M-133.43M-267.57M-301.22M
OperatingExpense112.62M134.26M277.84M302.99M
ResearchAndDevelopment75.62M86.68M187.65M249.24M
SellingGeneralAndAdministration37.00M47.58M90.19M53.75M
GeneralAndAdministrativeExpense37.00M47.58M90.19M53.75M
OtherGandA37.00M47.58M90.19M53.75M
TotalRevenue217.76K832.01K10.26M1.77M
OperatingRevenue217.76K832.01K10.26M1.77M
Line Item2023-12-31
TreasurySharesNumber0.00
PreferredSharesNumber26.0026.0026.0026.00
OrdinarySharesNumber36.10M22.79M21.09M18.12M
ShareIssued36.10M22.79M21.09M18.12M
NetDebt2.46M
TotalDebt11.87M30.21M32.07M33.02M
TangibleBookValue68.50M117.35M209.72M386.53M
InvestedCapital68.50M134.12M238.98M414.63M
WorkingCapital62.50M110.54M218.37M382.70M
NetTangibleAssets68.50M117.35M209.72M386.53M
CapitalLeaseObligations11.87M13.44M15.46M18.06M
CommonStockEquity68.50M117.35M222.36M399.67M
TotalCapitalization68.50M117.35M238.98M414.63M
TotalEquityGrossMinorityInterest68.50M117.35M222.36M399.67M
StockholdersEquity68.50M117.35M222.36M399.67M
GainsLossesNotAffectingRetainedEarnings-675.67K-662.60K-698.74K-282.24K
OtherEquityAdjustments-675.67K-662.60K-698.74K-282.24K
RetainedEarnings-1.73B-1.62B-1.49B-1.21B
AdditionalPaidInCapital1.80B1.74B1.71B1.61B
CapitalStock36.10K22.79K21.09K217.38K
CommonStock36.10K22.79K21.09K217.38K
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest44.69M53.60M126.17M96.27M
TotalNonCurrentLiabilitiesNetMinorityInterest9.37M11.03M29.30M30.53M
OtherNonCurrentLiabilities14.83K
NonCurrentDeferredLiabilities0.0032.05K96.41K
NonCurrentDeferredRevenue0.0064.36K
NonCurrentDeferredTaxesLiabilities0.0032.05K32.05K
LongTermDebtAndCapitalLeaseObligation9.37M11.03M29.27M30.42M
LongTermCapitalLeaseObligation9.37M11.03M12.66M15.46M
LongTermDebt16.61M14.96M
CurrentLiabilities35.33M42.57M96.87M65.74M
OtherCurrentLiabilities13.26M109.41K2.56M4.60M
CurrentDeferredLiabilities0.0021.63K
CurrentDeferredRevenue0.0021.63K
CurrentDebtAndCapitalLeaseObligation2.50M19.18M2.80M2.60M
CurrentCapitalLeaseObligation2.50M2.41M2.80M2.60M
CurrentDebt16.77M
OtherCurrentBorrowings16.77M
PensionandOtherPostRetirementBenefitPlansCurrent10.01M9.84M12.57M16.11M
PayablesAndAccruedExpenses9.57M13.45M78.93M42.41M
CurrentAccruedExpenses3.12M8.80M57.84M14.43M
Payables6.44M4.65M21.08M27.97M
AccountsPayable6.44M4.65M21.08M27.97M
TotalAssets113.20M170.95M348.53M495.94M
TotalNonCurrentAssets15.37M17.84M33.29M47.50M
OtherNonCurrentAssets1.98M605.32K684.04K1.43M
InvestmentsAndAdvances1.61M2.78M2.01M3.91M
LongTermEquityInvestment1.61M2.78M2.01M3.91M
InvestmentsinAssociatesatCost2.01M3.91M
InvestmentsinSubsidiariesatCost0.00
GoodwillAndOtherIntangibleAssets0.0012.64M13.14M
OtherIntangibleAssets2.13M2.63M
Goodwill0.0010.51M10.51M
NetPPE11.77M14.45M17.96M29.02M
AccumulatedDepreciation-16.46M-20.85M-21.56M-18.94M
GrossPPE28.24M35.30M39.52M47.97M
Leases11.76M15.92M15.80M15.80M
OtherProperties10.95M13.03M15.53M23.96M
MachineryFurnitureEquipment5.53M6.36M8.19M8.20M
Properties0.000.000.000.00
CurrentAssets97.83M153.11M315.24M448.44M
OtherCurrentAssets20.43K375.23K261.19K
RestrictedCash0.0030.00M0.00
PrepaidAssets2.52M5.41M20.13M38.84M
Receivables1.20M2.41M11.74M8.03M
DuefromRelatedPartiesCurrent1.20M2.41M10.04M2.57M
AccountsReceivable0.001.70M5.47M
CashCashEquivalentsAndShortTermInvestments94.11M145.29M253.00M401.31M
OtherShortTermInvestments28.30M130.98M206.67M330.17M
CashAndCashEquivalents65.81M14.31M46.33M71.14M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow-104.56M-124.69M-217.18M-216.94M
RepaymentOfDebt-16.41M0.00
IssuanceOfDebt0.000.00
IssuanceOfCapitalStock36.03M5.46M82.96M209.44M
CapitalExpenditure-487.83K-320.90K-969.15K-1.23M
InterestPaidSupplementalData533.49K1.07M1.07M1.08M
IncomeTaxPaidSupplementalData1.07M1.08M
EndCashPosition65.81M14.31M46.33M71.14M
BeginningCashPosition14.31M46.33M71.14M250.73M
EffectOfExchangeRateChanges32.40K-3.92K-25.56K-30.13K
ChangesInCash51.47M-32.01M-24.79M-179.55M
FinancingCashFlow51.48M5.00M81.84M211.50M
CashFlowFromContinuingFinancingActivities51.48M5.00M81.84M211.50M
NetOtherFinancingCharges-420.80K-466.65K-1.40M-4.61M
ProceedsFromStockOptionExercised32.28M0.00283.02K6.67M
NetCommonStockIssuance36.03M5.46M82.96M209.44M
CommonStockIssuance36.03M5.46M82.96M209.44M
NetIssuancePaymentsOfDebt-16.41M0.000.000.00
NetShortTermDebtIssuance-16.41M0.00
ShortTermDebtPayments-16.41M0.00
NetLongTermDebtIssuance0.000.00
LongTermDebtIssuance0.000.00
InvestingCashFlow104.07M87.36M109.59M-175.34M
CashFlowFromContinuingInvestingActivities104.07M87.36M109.59M-175.34M
NetInvestmentPurchaseAndSale104.50M81.46M112.56M-174.11M
SaleOfInvestment158.64M284.93M361.08M174.84M
PurchaseOfInvestment-54.14M-203.48M-248.53M-348.95M
NetBusinessPurchaseAndSale0.00-2.00M0.00
SaleOfBusiness0.000.00
PurchaseOfBusiness0.00-2.00M0.00
NetPPEPurchaseAndSale-428.51K5.90M-969.15K-1.23M
SaleOfPPE59.32K6.22M0.000.00
PurchaseOfPPE-487.83K-320.90K-969.15K-1.23M
CapitalExpenditureReported-1.23M
OperatingCashFlow-104.08M-124.37M-216.22M-215.71M
CashFlowFromContinuingOperatingActivities-104.08M-124.37M-216.22M-215.71M
ChangeInWorkingCapital-2.66M-10.26M19.83M50.35M
ChangeInOtherWorkingCapital-1.57M-2.02M-2.69M-2.37M
ChangeInOtherCurrentLiabilities-109.41K-2.45M-2.05M-3.02M
ChangeInOtherCurrentAssets38.90K78.73K741.75K24.53M
ChangeInPayablesAndAccruedExpense-3.71M-54.22M32.87M26.52M
ChangeInAccruedExpense-343.52K-8.23M267.81K375.92K
ChangeInPayable-3.37M-45.99M32.61M26.14M
ChangeInAccountPayable-3.37M-45.99M32.61M26.14M
ChangeInPrepaidAssets1.48M39.02M-5.34M-6.34M
ChangeInReceivables1.21M9.33M-3.71M11.03M
ChangesInAccountReceivables1.21M9.33M-3.71M11.03M
OtherNonCashItems-355.65K155.81K186.98K858.64K
StockBasedCompensation6.60M11.07M22.56M26.34M
UnrealizedGainLossOnInvestmentSecurities-2.08M-5.85M7.85M3.05M
AssetImpairmentCharge0.0012.50M0.000.00
AmortizationOfSecurities-1.69M-4.69M-1.32M1.63M
DeferredTax0.00-32.05K0.000.00
DeferredIncomeTax0.00-32.05K0.000.00
DepreciationAmortizationDepletion3.13M3.50M5.50M4.73M
DepreciationAndAmortization3.13M3.50M5.50M4.73M
AmortizationCashFlow0.00145.42K496.49K520.41K
AmortizationOfIntangibles0.00145.42K496.49K520.41K
Depreciation3.13M3.36M5.00M4.21M
OperatingGainsLosses240.74K4.35M9.00M993.35K
EarningsLossesFromEquityInvestments1.17M-773.14K3.90M987.96K
GainLossOnInvestmentSecurities-903.24K4.81M4.03M5.40K
NetForeignCurrencyExchangeGainLoss-176.93K
GainLossOnSaleOfPPE-22.47K318.00K1.07M0.00
GainLossOnSaleOfBusiness0.000.00
NetIncomeFromContinuingOperations-107.25M-135.12M-279.82M-303.66M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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