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Inovio Pharmaceuticals Reports 2012 Third Quarter Financial Results
Date:11/7/2012

BLUE BELL, Pa., Nov. 7, 2012 /PRNewswire/ -- Inovio Pharmaceuticals, Inc. (NYSE AMEX: INO) today reported financial results for the quarter ended September 30, 2012.

Total revenue was $855,000 and $3.0 million for the three and nine months ended September 30, 2012, compared to $2.6 million and $8.2 million for the same periods in 2011.

Total operating expenses were $7.1 million and $20.3 million for the three and nine months ended September 30, 2012, compared to $9.0 million and $24.0 million for the same periods in 2011.

The net loss attributable to common stockholders for the three and nine months ended September 30, 2012, was $6.6 million, or $0.05 per share, and $19.0 million, or $0.14 per share, compared to a net loss of $4.5 million, or $0.04 per share, and $9.8 million, or $0.08 per share, for the three and nine months ended September 30, 2011.

Revenue The decrease in revenue for the comparable periods was primarily due to timing of work performed under the company's contract with the National Institute of Allergy and Infectious Diseases (NIAID). This contract revenue amounted to $453,000 and $2.2 million for the three and nine months ended September 30, 2012, versus $1.9 million and $6.4 million for the same periods in 2011. This NIAID contract, which exceeds $23 million over five years (plus two additional option years), is facilitating Inovio's development of a universal, preventive HIV DNA vaccine, PENNVAX®-GP.

Operating Expenses Research and development expenses for the three and nine months ended September 30, 2012, were $5.0 million and $13.5 million for the three and nine months ended September 30, 2012, compared to $7.0 million and $15.9 million for the same periods in 2011. General and administrative expenses for the three and nine months ended September 30, 2012, were $2.7 million and $7.9 million versus $2.3 mil
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SOURCE Inovio Pharmaceuticals, Inc.
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