Inovio Pharmaceuticals, Inc.

Snapshot

Inovio is a clinical-stage biotech that just became commercial: FY 2025 revenue was only $65K and the company lost $84.9M. On Nov 2, 2026, VOCERYQ became its first FDA-approved product.

What's Happening Right Now

• Mon 2nd Nov '26 · FDA Approval: On Nov 2, 2026, Inovio confirmed the FDA granted accelerated approval to VOCERYQ (formerly INO-3107) for recurrent respiratory papillomatosis, the company's first commercial product and the first FDA-approved DNA medicine; shipping is expected in about 60 days with full launch in Q1 2027, and continued approval depends on a confirmatory study due to the FDA by end of 2026.
• Tue 20th Oct '26 · Litigation win: On Oct 20, 2026, Inovio announced it won an $80.4 million judgment against VGXI and GeneOne Life Science on all claims it brought, though collectability and potential appeals remain unaddressed.
• Tue 6th Oct '26 · Governance change: On Oct 6, 2026, Inovio's board adopted a bylaws amendment naming Delaware Chancery Court and federal courts as exclusive forums for certain shareholder lawsuits, a routine governance change with no disclosed financial impact.
• Thu 13th Aug '26 · Q2 earnings: On Aug 12, 2026, Inovio reported a Q2 net loss of $6.0M (narrowed from $23.5M), helped heavily by a $13.9M non-cash warrant gain, while FDA review of INO-3107 advanced toward the Oct 30 PDUFA date.
• Wed 12th Aug '26 · Going concern: Inovio's 10-Q for the quarter ended June 30, 2026 disclosed substantial doubt about its ability to continue operating beyond Q1 2027, with $36.7M in cash plus $18.3M from a July 2026 offering expected to cover only the period through a potential INO-3107 launch; stockholders' equity had fallen to $4.4M against a $1.8B accumulated deficit.
• Fri 31st Jul '26 · Offering: Raised $20.00M in gross proceeds through a public offering, with warrants over 48.42M shares.
• Fri 10th Jul '26 · Registration: Registered $300.00M of securities for sale on Form S-3.
• Tue 30th Jun '26 · ATM sale: Sold $1.10M net / 667K shares through its at-the-market program, as stated for Jan 1, 2026 to Jun 30, 2026.