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Inovio Pharmaceuticals Reports 2013 Third Quarter Financial Results
Date:11/12/2013

BLUE BELL, Pa., Nov. 12, 2013 /PRNewswire/ -- Inovio Pharmaceuticals, Inc. (NYSE MKT: INO) today reported financial results for the quarter ended September 30, 2013.

Total revenue was $9.5 million and $11.7 million for the three and nine months ended September 30, 2013, compared to $855,000 and $3.0 million for the same periods in 2012.

Total operating expenses were $8.7 million and $23.3 million for the three and nine months ended September 30, 2013, compared to $7.1 million and $20.3 million for the same periods in 2012.

The income (loss) from operations prior to other income (expenses) for the three and nine months ended September 30, 2013 was $766,000, or $0.00 per share, and $(11.5 million), or $(0.07) per share, as compared with $(6.3 million), or $(0.05) per share, and $(17.3 million), or $(0.13) per share, for the three and nine months ended September 30, 2012.

The net loss attributable to common stockholders for the three and nine months ended September 30, 2013, was $30.9 million, or $0.16 per share, and $50.6 million, or $0.29 per share, as compared with a net loss attributable to common stockholders of $6.6 million, or $0.05 per share, and $19.0 million, or $0.14 per share, for the three and nine months ended September 30, 2012.

The $24.3 million and $31.6 million increase in net loss attributable to common stockholders for the three and nine months ended September 30, 2013, compared with the same periods in 2012, resulted primarily from a non-cash accounting expense related to the change in fair value of common stock warrants based on a required quarterly mark to market adjustment to reflect changes in the Company's stock price, which increased significantly in the third quarter.

Revenue The increase in revenue for the comparable periods was primarily due to $8.4 million of revenue recognized from our agreement with Roche. The increase was also attributable to higher revenue recognized from our PATH Ma
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SOURCE Inovio Pharmaceuticals, Inc.
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