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Inovio Pharmaceuticals Reports 2011 Second Quarter Financial Results
Date:8/8/2011

160;Months Ended
June 30,  

Six Months Ended
June 30,  2011  

2010  

2011  

2010  Revenue:License fee and milestone revenue

$  26,456

$  55,941

$  52,824

$  122,495License fee and milestone revenue from affiliated entity

105,208

118,750

198,958

125,806Grant and miscellaneous revenue

2,288,099

960,168

5,273,246

2,259,947Total revenue2,419,763

1,134,859

5,525,028

2,508,248Operating expenses:Research and development

4,463,978

3,083,229

8,885,777

5,813,824General and administrative

3,092,386

3,027,593

6,411,618

6,077,751Gain on sale of assets

(250,000)

—Total operating expenses7,556,364

6,110,822

15,047,395

11,891,575Loss from operations(5,136,601)

(4,975,963)

(9,522,367)

(9,383,327)Other income (expense):Interest income, net

7,799

13,594

20,574

48,155Other income, net

4,898,758

676,179

7,219,706

1,704,172Loss from investment in affiliated entity

(2,607,227)

(3,327,758)

(2,977,238)

(2,283,584)Net loss(2,837,271)

(7,613,948)

(5,259,325)

(9,914,584)Net loss/ (gain) attributable to non-controlling interest

15,112

(2,490)

24,553

4,460Net loss attributable to Inovio Pharmaceuticals, Inc.$  (2,822,159)

$  (7,616,438)

$  (5,234,772)

$  (9,910,124)Loss per common share — basic and diluted:Net loss per share attributable to Inovio Pharmaceuticals, Inc. stockholders$  (0.02)

$  (0.07)

$  (0.04)

$  (0.10)Weighted average number of common shares
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SOURCE Inovio Pharmaceuticals, Inc.
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