Inovio Pharmaceuticals Earnings: INO Stock Dips as Q4 Revenue Declines

Inovio Pharmaceuticals (NASDAQ:INO) reported its latest quarterly earnings results after hours Tuesday, bringing in revenue that fell compared to the year-ago period, while the company’s net loss widened, sending INO stock down more than 4% after the bell.

INO StockThe Plymouth Meeting, Penn.-based company said that for its fourth quarter of its fiscal 2018, it brought in sales of $2.5 million, down 71.6% from the $8.8 million it raked in during the year-ago quarter. The company added that its net loss for the period was $33 million, or 34 cents per share, which was 53.5% wider than its year-ago loss of $21.5 million, or 24 cents per share.

For its fiscal 2018, Inovio Pharmaceuticals amassed sales of $30.5 million, about 27.7% lower than the company’s revenue of $42.2 million over its fiscal 2017. Plus, its net loss for the fiscal year was $97 million, or $1.05 per share, which is narrower than its loss of $88.2 million, or $1.09 per diluted share for its 2017.

The company added that its total operating expenses for its fourth quarter was $32 million, slightly above the $31.7 million during the same period in 2017. For the fiscal year, Inovio Pharmaceuticals had total operating expenses of $124.6 million, below the $125.9 million from its 2017.

“Inovio continues to generate impressive efficacy data for HPV-related head and neck cancers, further validating our objective to be the global leader in treating HPV-related diseases,” Dr. J. Joseph Kim, Inovio President and CEO.

INO stock is down roughly 4.5% after the bell following the company’s underwhelming quarterly results. Shares had been up about 1.1% during regular trading hours Tuesday.

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