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

olders' equity:Preferred stock—par value $0.001; Authorized shares: 10,000,000, issued and
outstanding: 26 and 26 at December 31, 2010 and December 31, 2009, respectively

—Common stock—par value $0.001; Authorized shares: 300,000,000, issued and
outstanding: 105,038,192  at December 31, 2010 and 102,746,058 at December 31, 2009

105,038

102,746Additional paid-in capital241,233,334

237,577,970Accumulated deficit(194,838,229)

(177,224,433)Accumulated other comprehensive income2,850

105,796Total Inovio Pharmaceuticals, Inc. stockholders' equity46,502,993

60,562,079Non-controlling interest597,918

622,868Total stockholders' equity47,100,911

61,184,947Total liabilities and stockholders' equity$56,067,391

$80,628,917Inovio Pharmaceuticals, Inc.CONSOLIDATED STATEMENTS OF OPERATIONSFor the Years ended December 31,201020092008Revenues:License fee and milestone revenue$213,916

$4,929,309

$791,401License fee and milestone revenue from affiliated entity313,306

18,222

—Revenue under collaborative research and development arrangements—

125,996

1,077,967Grants and miscellaneous revenue5,549,583

4,005,719

228,264Miscellaneous revenue from affiliated entity67,900

40,865

—Total revenues6,144,705

9,120,111

2,097,632Operating expenses:Research and development13,256,606

9,408,457

5,750,494General and administrative12,108,261

13,669,409

10,005,602Total operating expenses25,364,867

23,077,866

15,756,096Loss from operations(19,220,162)

(13,957,755)

(13,658,464)Other income (expense):Other income/(expense), net2,476,816

(1,258,848)

49,006Interest income, net74,514

2,293

643,836Loss from investment in affiliated entity(969,914)

(9,244,614)

—Net loss(17,638,746)

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SOURCE Inovio Pharmaceuticals, Inc.
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