INOVIO PHARMACEUTICALS, INC.
INO · Pharmaceutical Preparations · 82.3M shares · -28%/yr ↓ buyback · EDGAR filings ↗
Grade
D40Clinical/early-stage biotech — deep burn, revenue collapse
Strengths
- Liquidity — current ratio 1.4 (17th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical/pipeline & funding risk — per 10-K
Notable findings
- Going concern• We do not currently have sufficient working capital to fund our planned operations for the next twelve months and substantial doubt exists as to our ability to continue as a going concern
- Cash burnNegative free cash flow (-88.9M)
- Net lossNet loss (net margin -130000.0%)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Buying back stockNet buyback — share count -28%/yr over 4y
- Revenue declineRevenue -70.0% YoY
- Notable holderHeld by 5 notable fund(s): FMR LLC, RENAISSANCE TECHNOLOGIES LLC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-132871.3%
Net margin
-130000.0%
Return on equity
-352.5%
Return on assets
-114.3%
Revenue growth (QoQ)
-70.0%
Current ratio
1.4×
Free cash flow
-$89M
Tangible book value
$24M
Cash & investments
$58M
Cash runway
3q
Stock comp / revenue
5747.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-20 | Sumner Michael John | Option exercise | 9.4K | — |
| 2026-05-20 | Sumner Michael John | Tax withheld | 2.7K | $1.23 |
| 2026-05-20 | Shea Jacqueline Elizabeth | Option exercise | 28K | — |
| 2026-05-20 | Shea Jacqueline Elizabeth | Tax withheld | 12K | $1.23 |
| 2026-05-20 | Humeau Laurent | Option exercise | 6.0K | — |
| 2026-05-20 | Humeau Laurent | Tax withheld | 2.2K | $1.23 |
| 2026-05-20 | KIES PETER | Option exercise | 8.7K | — |
| 2026-05-20 | KIES PETER | Tax withheld | 4.7K | $1.23 |
| 2026-05-15 | Sumner Michael John | Option exercise | 2.4K | — |
| 2026-05-15 | Sumner Michael John | Tax withheld | 680 | $1.30 |
| 2026-05-15 | Shea Jacqueline Elizabeth | Option exercise | 18K | — |
| 2026-05-15 | Shea Jacqueline Elizabeth | Tax withheld | 7.7K | $1.30 |
| 2026-05-15 | Humeau Laurent | Option exercise | 4.8K | — |
| 2026-05-15 | Humeau Laurent | Tax withheld | 1.7K | $1.30 |
| 2026-05-15 | KIES PETER | Option exercise | 4.8K | — |
| 2026-05-15 | KIES PETER | Tax withheld | 2.6K | $1.30 |
| 2026-03-31 | Sumner Michael John | Option exercise | 4.3K | — |
| 2026-03-31 | Sumner Michael John | Tax withheld | 1.2K | $1.74 |
| 2026-02-26 | Sumner Michael John | Option exercise | 5.0K | — |
| 2026-02-26 | Sumner Michael John | Option exercise | 12K | — |
| 2026-02-26 | Sumner Michael John | Tax withheld | 3.9K | $1.79 |
| 2026-02-26 | Shea Jacqueline Elizabeth | Option exercise | 19K | — |
| 2026-02-26 | Shea Jacqueline Elizabeth | Tax withheld | 8.1K | $1.79 |
| 2026-02-26 | Shea Jacqueline Elizabeth | Option exercise | 28K | — |
| 2026-02-26 | Shea Jacqueline Elizabeth | Tax withheld | 14K | $1.79 |
| 2026-02-26 | Humeau Laurent | Option exercise | 5.0K | — |
| 2026-02-26 | Humeau Laurent | Tax withheld | 2.1K | $1.79 |
| 2026-02-26 | Humeau Laurent | Option exercise | 7.4K | — |
| 2026-02-26 | Humeau Laurent | Tax withheld | 3.0K | $1.79 |
| 2026-02-26 | Weiner David B. | Option exercise | 972 | — |
| 2026-02-26 | KIES PETER | Option exercise | 5.0K | — |
| 2026-02-26 | KIES PETER | Tax withheld | 3.0K | $1.79 |
| 2026-02-26 | KIES PETER | Option exercise | 11K | — |
| 2026-02-26 | KIES PETER | Tax withheld | 6.3K | $1.79 |
| 2025-06-30 | Sumner Michael John | Option exercise | 2.9K | — |
| 2025-05-21 | Zoth Lota S. | Option exercise | 2.2K | — |
| 2025-05-21 | Miller Ann Calby | Option exercise | 2.2K | — |
| 2025-05-21 | Shepard Jay | Option exercise | 2.2K | — |
| 2025-05-21 | BENITO SIMON X | Option exercise | 2.2K | — |
| 2025-05-21 | YARNO WENDY L | Option exercise | 2.2K | — |
| 2025-05-21 | DANSEY ROGER D | Option exercise | 2.2K | — |
| 2025-05-21 | Weiner David B. | Option exercise | 2.2K | — |
| 2025-05-15 | Sumner Michael John | Option exercise | 2.4K | — |
| 2025-05-15 | Sumner Michael John | Tax withheld | 680 | $1.95 |
| 2025-05-15 | Shea Jacqueline Elizabeth | Option exercise | 18K | — |
| 2025-05-15 | Shea Jacqueline Elizabeth | Tax withheld | 7.7K | $1.95 |
| 2025-05-15 | KIES PETER | Option exercise | 4.8K | — |
| 2025-05-15 | KIES PETER | Tax withheld | 2.6K | $1.95 |
| 2025-05-15 | Humeau Laurent | Option exercise | 4.8K | — |
| 2025-05-15 | Humeau Laurent | Tax withheld | 1.7K | $1.95 |
| 2025-05-10 | Shea Jacqueline Elizabeth | Option exercise | 5.5K | — |
| 2025-05-10 | Shea Jacqueline Elizabeth | Tax withheld | 2.4K | $1.80 |
| 2025-02-26 | Humeau Laurent | Option exercise | 3.9K | — |
| 2025-02-26 | Humeau Laurent | Tax withheld | 1.6K | $1.98 |
| 2025-02-26 | Humeau Laurent | Option exercise | 5.0K | — |
| 2025-02-26 | Humeau Laurent | Tax withheld | 2.1K | $1.98 |
| 2025-02-26 | Sumner Michael John | Option exercise | 5.0K | — |
| 2025-02-26 | Shea Jacqueline Elizabeth | Option exercise | 5.9K | — |
| 2025-02-26 | Shea Jacqueline Elizabeth | Tax withheld | 2.5K | $1.98 |
| 2025-02-26 | Shea Jacqueline Elizabeth | Option exercise | 19K | — |
| 2025-02-26 | Shea Jacqueline Elizabeth | Tax withheld | 9.1K | $1.98 |
| 2025-02-26 | KIES PETER | Option exercise | 4.0K | — |
| 2025-02-26 | KIES PETER | Tax withheld | 2.4K | $1.98 |
| 2025-02-26 | KIES PETER | Option exercise | 5.0K | — |
| 2025-02-26 | KIES PETER | Tax withheld | 3.0K | $1.98 |
| 2025-02-26 | Weiner David B. | Option exercise | 972 | — |
| 2025-02-26 | Weiner David B. | Option exercise | 972 | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT02464670 ↗ | Open-Label Study of INO-4212 With or Without INO-9012, Administered IM or ID Followed by Electroporation in Healthy Volunteers Ebola Vaccine | PHASE1 | Completed | 2018-05-24 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-20 | 5.03Shareholder voteExhibits | filing ↗ |
| 2026-05-13 | ResultsExhibits | filing ↗ |
| 2026-04-06 | Material agreementOtherExhibits | filing ↗ |
| 2026-04-02 | Other | filing ↗ |
| 2026-03-12 | ResultsExhibits | filing ↗ |
| 2026-01-27 | Material agreement3.03Exhibits | filing ↗ |
| 2025-12-29 | Reg FDOtherExhibits | filing ↗ |
| 2025-11-12 | Material agreementOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-20 | 2026-05-19 | 0001193125-26-232524 ↗ |
| 10-Q | 2026-05-13 | 2026-03-31 | 0001055726-26-000018 ↗ |
| 8-K | 2026-05-13 | 2026-05-13 | 0001055726-26-000019 ↗ |
| 8-K | 2026-04-06 | 2026-04-02 | 0001193125-26-142885 ↗ |
| 8-K | 2026-04-02 | 2026-04-01 | 0001193125-26-138870 ↗ |
| 10-K | 2026-03-12 | 2025-12-31 | 0001055726-26-000008 ↗ |
| 8-K | 2026-03-12 | 2026-03-12 | 0001055726-26-000009 ↗ |
| 8-K | 2026-01-27 | 2026-01-27 | 0001193125-26-024431 ↗ |
| 8-K | 2025-12-29 | 2025-12-29 | 0001193125-25-332322 ↗ |
| 8-K | 2025-11-12 | 2025-11-11 | 0001193125-25-275721 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0001055726-25-000063 ↗ |
| 8-K | 2025-11-10 | 2025-11-10 | 0001055726-25-000064 ↗ |