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Inovio Pharmaceuticals Reports 2010 Fourth Quarter and Year End Financial Results
Date:3/17/2011

y of the forward-looking information provided herein will be proven accurate.CONTACTS:Investors:

Bernie Hertel, Inovio Pharmaceuticals, 858-410-3101Media:

Jeff Richardson, Richardson & Associates, 805-491-8313Inovio Pharmaceuticals, Inc.CONSOLIDATED BALANCE SHEETSDecember 31,20102009ASSETSCurrent assets:Cash and cash equivalents$19,998,489

$30,296,215Short-term investments- certificates of deposit1,846,271

—Short-term investments- auction rate securities—

10,397,530Auction rate security rights—

3,145,156Accounts receivable32,887

259,207Accounts receivable from affiliated entity72,149

58,853Prepaid expenses and other current assets273,975

409,845Prepaid expenses and other current assets from affiliated entity653,436

—Total current assets22,877,207

44,566,806Fixed assets, net276,795

343,457Intangible assets, net11,180,002

12,968,934Goodwill10,113,371

10,113,371Investment in affiliated entity11,360,888

12,330,802Other assets259,128

305,547Total assets$56,067,391

$80,628,917LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities:Accounts payable and accrued expenses$3,410,610

$3,445,750Accounts payable and accrued expenses due to affiliated entity1,680,947

445,091Accrued clinical trial expenses178,328

299,261Line of credit—

12,114,760Common stock warrants370,926

2,774,850Deferred revenue420,897

270,326Deferred revenue from affiliated entity375,000

—Total current liabilities6,436,708

19,350,038Deferred revenue, net of current portion72,780

82,594Deferred revenue from affiliated entity, net of current portion2,336,694

—Deferred rent, net of current portion67,112

11,338Deferred tax liabilities53,186

—Total liabilities8,966,480

19,443,970Commitments and contingenciesInovio Pharmaceuticals, Inc. stockh
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SOURCE Inovio Pharmaceuticals, Inc.
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