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Inovio Pharmaceuticals Reports 2011 Third Quarter Financial Results
Date:11/7/2011

illion and $8.8 million for the same periods in 2010. The increase was primarily due to higher clinical trial costs related to multiple clinical studies, including the initiation of the Phase II study of Inovio's cervical dysplasia/cancer DNA vaccine, VGX-3100, as well as higher costs related to work performed for the NIAID HIV contract.

Net Loss Attributable to Common Stockholders The $3.1 million and $1.5 million decrease in net loss attributable to common stockholders for the three and nine months ended September 30, 2011, respectively, compared with the same periods in 2010, resulted primarily from the increase in grant revenue, increase in other income from the required quarterly revaluation of registered common stock warrants and decrease in general and administrative expenses, offset by the increase in research and development expenses.

Capital Resources As of September 30, 2011, cash and cash equivalents plus short-term investments in certificates of deposit were $31.1 million, compared with $21.8 million as of December 31, 2010. This change primarily resulted from the January 2011 financing, from which the Company received net proceeds of approximately $23.0 million, partially offset by expenditures related to our research and development and general and administrative activities.

Based on management's projections and analysis, the Company believes that its cash and cash equivalents are sufficient to meet its planned working capital requirements through the second quarter of 2013.

A summary of Inovio's consolidated balance sheet and statement of operations is provided at the end of this release. The Form 10-Q providing the complete 2011 third quarter financial report can be found at: http://ir.inovio.com/secfilings.

Corporate UpdateCorporate DevelopmentIn the third quarter, Inovio announced i
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SOURCE Inovio Pharmaceuticals, Inc.
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