Inovio Pharmaceuticals Inc (NASDAQ:INO) reported its latest quarterly earnings results after the bell Wednesday, with revenue and earnings rising year-over-year.
The pharmaceutical company announced a net loss of $21.5 million, or 24 cents per share, narrower than its year-ago loss of $26.2 million, or 35 cents per share for its fourth quarter. For the full year, the company lost $88.2 million, or $1.08 per basic share, which was wider than the year-ago loss of $73.7 million, or $1.01 per basic share.
Inovio Pharmaceuticals reported total revenue for its fourth quarter of $8.8 million, a 3.5% gain compared to the year-ago quarter of $8.5 million. For the full year, the company’s revenue reached $42.2 million, beating the $35.4 million from the year-ago quarter, rising more than 19% compared to the year-ago quarter.
The company’s total operating expenses for the quarter were $31.7 million, ahead of the year-ago total of $30.9 million. For the full fiscal year, this figure was $125.9 million, topping the year-ago total operating expenses of $111.6 million.
Inovio Pharmaceutical’s research and development expenses for the quarter came in at $24.6 million, and they were $98.6 million for the fiscal year 2017. In the year-ago period and year, they were $23.9 million and $88.7 million respectively. This increase in expenses was linked with a rise in the company’s headcount.
INO shares were trading flat after the bell.