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Inovio Pharmaceuticals, Inc. (INO) stock

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NASDAQ: INO Nasdaq Biotechnology Next results ~November 10, 2026

E Fundamentals grade

Inovio Pharmaceuticals, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

Not valued: the figures our models need are missing or failed our data-quality checks.

Price vs value

No model value: cash-flow, stock-pay or share-count figures missing or out of date. How we value companies.

Inovio Pharmaceuticals, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds48 adding, 33 cuttingOf 15 active managers that changed their stake, 6 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Inovio Pharmaceuticals files

Where Inovio Pharmaceuticals stands after its latest 10-Q

Inovio Pharmaceuticals has little or no product revenue yet; it used $81m of cash in the twelve months to June 2026. That puts it 118 of 122 for growth among the biotechnology companies we cover. The diluted share count is up 92.4% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 1 of our 2 financial-health checks.

Our models give no value for Inovio Pharmaceuticals at present, so past values are not shown.

Source: 10-Q filed August 12, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 10, 2026 (estimated)

Inovio Pharmaceuticals, Inc.'s trailing-twelve-month revenue fell 100.0% year on year, with a free-cash-flow margin of -136074.5%. Where it lags: stock pay as % of revenue of 5747.8% ranks 177 of 179 biotechnology companies we cover.

Current signal Capital expenditure surging: TTM capex grew 116% year over year and now absorbs 437.2% of revenue.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Inovio Pharmaceuticals, Inc.'s latest figures clears our strength thresholds.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 100.0% over the last 12 months.
  • Loss-making. Operating margin is -132871.3%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 81254.4 points on a year ago.
  • Burning cash. Free cash flow was -136074.5% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 5747.8% of revenue, against a median of 19.2% for biotechnology companies we cover: a real cost that cash-flow figures leave out.

Latest results: FY2026 Q2

Filed August 12, 2026
Earnings per share
-$0.24 against an average estimate of -$0.24: beat by 0.6%
Share reaction
+16.9% in the first session after the results on August 12, 2026, against +0.9% for the S&P 500
Guidance given
operational net cash burn $18m (third quarter of 2026)
Next report
November 10, 2026; average EPS estimate -$0.20

Inovio Pharmaceuticals' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+215.0%
  • 1 week+117.2%
  • 1 month+62.9%
  • This year+8.6%
  • 1 year-19.6%
  • 5 years-97.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$0
Operating margin
-132871.3%
Net margin
-130000.0%
EPS (TTM, diluted)
$-1.03

Growth

Revenue growth
−100.0%
Change in growth rate
+0.0 pts
Share count change
+92.4%

Cash

Free cash flow (TTM)
-$80.8M
FCF margin
-136074.5%
Stock pay % of revenue
5747.8%

Earnings

Last results
August 12, 2026
Next results (est.)
November 4, 2026

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Governance
  3. Results
  4. Guidance
  5. Agreement
  6. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Inovio Pharmaceuticals, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: cash-flow, stock-pay or share-count figures missing or out of date.

Valuation models

We value Inovio Pharmaceuticals, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.96 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. — Does not apply: no positive revenue in the latest twelve months
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. — No model applies: the filings don’t yet support a value.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Inovio Pharmaceuticals, Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$80.64$83.28$49.56$48.00$39.60$106.20$59.88$18.72$6.12$1.83$1.74$1.89
Market value$459m$508m$338m$370m$326m$1.4bn$1.0bn$372m$136m$50m$82m$123m
+ Net debt (− = net cash)−$58m−$19m−$24m−$24m$41m−$251m−$71m−$30m$2m−$66m−$44m−$32m
Enterprise value$402m$489m$315m$346m$366m$1.1bn$971m$343m$138m−$16m$37m$92m
Multiples
Price / sales 11.3x14.4x8.0x12.1x79.2x185.2xn/m36.3x163.1xn/mn/m—
Price / earnings ————————————
Price / free cash flow ————————————
EV / EBITDA ————————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

8 /100

Weak moat

How hard Inovio Pharmaceuticals's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -71.5% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -2654.7%; its worst year was -132871.3%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 10 years, at a median -2412.8% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 715.0% over five years; stock-based pay has been a median 242.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (12 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 10, 2026. Analysts expect revenue of $0 and EPS of −$0.20 (range −$0.20 to −$0.19) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$1.00 +45% $666670 +920%
Next −$0.44 +56% $51m +7491%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −12.3% on 90 days ago. In the last 30 days, 1 analyst raised Inovio Pharmaceuticals, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Inovio Pharmaceuticals, Inc., last 90 days
−$1.50 −$1.00 −$0.50 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$1.14 Current fiscal year, 60 days ago: −$0.73 Current fiscal year, 30 days ago: −$0.73 Current fiscal year, 7 days ago: −$0.73 Current fiscal year, Now: −$1.00 −$1.00 Next fiscal year, 90 days ago: −$0.60 Next fiscal year, 60 days ago: −$0.44 Next fiscal year, 30 days ago: −$0.44 Next fiscal year, 7 days ago: −$0.44 Next fiscal year, Now: −$0.44 −$0.44

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$1.14−$0.60
60 days ago −$0.73−$0.44
30 days ago −$0.73−$0.44
7 days ago −$0.73−$0.44
Now −$1.00−$0.44

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.24 −$0.24 +0.6%
Mar 2026 −$0.33 −$0.31 +4.7%
Dec 2025 −$0.34 −$0.28 +19.6%
Sept 2025 −$0.48 −$0.87 −82.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 12, 2026
  • operational net cash burn third quarter of 2026 about $18m
    “This projection includes the net proceeds of approximately $18.3 million from the public offering in July 2026, as well as an operational net cash burn estimate of approximately $18 million for the third quarter of 2026.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

3 analysts, Oct 2026
Buy267%
Hold133%
Sell00%

Monthly trend

  1. Oct 20261113
  2. Sep 20261113
  3. Aug 2026123

Counts of recommendations published by analysts covering Inovio Pharmaceuticals, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
22.9%
of tradable shares
Days to cover
7.27
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
46%
of shares
Held by insiders
0.3%
of shares
Employees
112
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
INO−44%−69%−67%−70%−5%+9%
Industry peers (median)−35%−56%−17%−28%−5%−27%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
INO42%33%33%25%50%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
INO−71%−73%−82%−87%−43%−68%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 100% from June 29, 2020 to October 30, 2026. Getting back needed a 63280% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.60 – $2.60
From 52-week high
−27.3%
vs 50-day average
+63.8%
vs 200-day average
+49.4%
Volatility (1 year)
235%
Beta vs S&P 500
-0.05

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±10.2%
After a week
5 up, 7 down
typical move ±18.6%
After a month
5 up, 7 down
typical move ±29.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 12, 2026 +16.9% +0.9% +68.8% +62.3%
July 29, 2026 −35.9% +0.1% −34.0% +22.3%
May 13, 2026 −3.5% +1.4% −12.8% −22.0%
March 12, 2026 −1.8% −2.1% −2.4% −35.5%
November 10, 2025 −5.7% +1.8% −6.6% +2.4%
August 12, 2025 +18.1% +1.4% +34.7% +84.0%
May 13, 2025 −3.1% +0.8% +9.8% +7.2%
March 18, 2025 −7.1% 0.0% −14.2% −18.5%
November 14, 2024 −13.9% −1.9% −18.0% −56.6%
August 8, 2024 −1.7% +2.8% −9.2% −25.4%
May 13, 2024 +7.2% +0.5% +4.3% −11.0%
November 9, 2023 −7.9% +0.8% +7.9% −2.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Inovio Pharmaceuticals, Inc. in five measures

Fundamentals grade E
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Inovio Pharmaceuticals, Inc.
$0 $500K $1M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $854K Revenue (TTM), FY23 Q4: $832K Revenue (TTM), FY24 Q1: $717.1K Revenue (TTM), FY24 Q2: $591.9K Revenue (TTM), FY24 Q3: $203.4K Revenue (TTM), FY24 Q4: $217.8K Revenue (TTM), FY25 Q1: $283.1K Revenue (TTM), FY25 Q2: $182.3K Revenue (TTM), FY25 Q3: $182.3K Revenue (TTM), FY25 Q4: $65.3K Revenue (TTM), FY26 Q1: $0 Revenue (TTM), FY26 Q2: $0 $0

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $854K
FY23 Q4 $832K
FY24 Q1 $717.1K
FY24 Q2 $591.9K
FY24 Q3 $203.4K
FY24 Q4 $217.8K
FY25 Q1 $283.1K
FY25 Q2 $182.3K
FY25 Q3 $182.3K
FY25 Q4 $65.3K
FY26 Q1 $0
FY26 Q2 $0
Revenue growth, TTM YoY Inovio Pharmaceuticals, Inc.
-100% -50% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -92.2% Revenue growth, TTM YoY, FY23 Q4: -91.9% Revenue growth, TTM YoY, FY24 Q1: -93.0% Revenue growth, TTM YoY, FY24 Q2: -93.8% Revenue growth, TTM YoY, FY24 Q3: -76.2% Revenue growth, TTM YoY, FY24 Q4: -73.8% Revenue growth, TTM YoY, FY25 Q1: -60.5% Revenue growth, TTM YoY, FY25 Q2: -69.2% Revenue growth, TTM YoY, FY25 Q3: -10.4% Revenue growth, TTM YoY, FY25 Q4: -70.0% Revenue growth, TTM YoY, FY26 Q1: -100.0% Revenue growth, TTM YoY, FY26 Q2: -100.0% -100.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -92.2%
FY23 Q4 -91.9%
FY24 Q1 -93.0%
FY24 Q2 -93.8%
FY24 Q3 -76.2%
FY24 Q4 -73.8%
FY25 Q1 -60.5%
FY25 Q2 -69.2%
FY25 Q3 -10.4%
FY25 Q4 -70.0%
FY26 Q1 -100.0%
FY26 Q2 -100.0%
Operating margin (TTM) Inovio Pharmaceuticals, Inc.
-150000% -100000% -50000% 0% FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 Operating margin (TTM), FY23 Q1: -2356.0% Operating margin (TTM), FY23 Q2: -1795.2% Operating margin (TTM), FY23 Q3: -20197.6% Operating margin (TTM), FY23 Q4: -17300.3% Operating margin (TTM), FY24 Q1: -18334.8% Operating margin (TTM), FY24 Q2: -21564.0% Operating margin (TTM), FY24 Q3: -58709.7% Operating margin (TTM), FY24 Q4: -51616.9% Operating margin (TTM), FY25 Q1: -37430.2% Operating margin (TTM), FY25 Q2: -52568.6% Operating margin (TTM), FY25 Q3: -49202.9% Operating margin (TTM), FY25 Q4: -132871.3% -132871.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q1 -2356.0%
FY23 Q2 -1795.2%
FY23 Q3 -20197.6%
FY23 Q4 -17300.3%
FY24 Q1 -18334.8%
FY24 Q2 -21564.0%
FY24 Q3 -58709.7%
FY24 Q4 -51616.9%
FY25 Q1 -37430.2%
FY25 Q2 -52568.6%
FY25 Q3 -49202.9%
FY25 Q4 -132871.3%
FCF margin (TTM) Inovio Pharmaceuticals, Inc.
-150000% -100000% -50000% 0% FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 FCF margin (TTM), FY23 Q1: -1889.0% FCF margin (TTM), FY23 Q2: -1802.1% FCF margin (TTM), FY23 Q3: -15797.6% FCF margin (TTM), FY23 Q4: -14986.2% FCF margin (TTM), FY24 Q1: -16249.6% FCF margin (TTM), FY24 Q2: -19066.0% FCF margin (TTM), FY24 Q3: -54655.4% FCF margin (TTM), FY24 Q4: -48019.1% FCF margin (TTM), FY25 Q1: -36277.9% FCF margin (TTM), FY25 Q2: -52037.1% FCF margin (TTM), FY25 Q3: -48855.2% FCF margin (TTM), FY25 Q4: -136074.5% -136074.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q1 -1889.0%
FY23 Q2 -1802.1%
FY23 Q3 -15797.6%
FY23 Q4 -14986.2%
FY24 Q1 -16249.6%
FY24 Q2 -19066.0%
FY24 Q3 -54655.4%
FY24 Q4 -48019.1%
FY25 Q1 -36277.9%
FY25 Q2 -52037.1%
FY25 Q3 -48855.2%
FY25 Q4 -136074.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 9 6 10 4 13 10 41 35 42 30 4 7 2 10 1 0 0 0
EBITDA −14 −19 −21 −23 −19 −39 −33 −75 −82 −90 −108 −121 −298 −264 −141 −111 −85 −78
Operating income −14 −19 −22 −23 −20 −39 −34 −76 −84 −94 −111 −124 −301 −268 −144 −112 −87 −79
Net income −24 −18 −15 −20 −66 −36 −29 −74 −88 −97 −119 −166 −304 −280 −135 −107 −85 −67
Diluted EPS −$0.33 −$8.16 −$5.76 −$6.96 −$17.16 −$7.68 −$5.28 −$12.12 −$13.08 −$12.60 −$14.52 −$12.84 −$17.45 −$14.07 −$6.09 −$3.95 −$1.81 −$1.03
Growth (year on year)
Revenue — −32.6% +59.4% −58.0% +227.0% −22.4% +288.0% −12.8% +19.4% −27.8% −86.5% +80.2% −76.1% +478.2% −91.9% −73.8% −70.0% −100.0%
Margins
EBITDA margin −150.4% −309.6% −219.5% −566.2% −142.7% −371.7% −81.9% −210.7% −193.7% −296.4% <−999% <−999% <−999% <−999% <−999% <−999% <−999% —
Operating margin −153.0% −312.8% −220.9% −570.4% −145.1% −377.7% −84.5% −215.5% −198.1% −308.7% <−999% <−999% <−999% <−999% <−999% <−999% <−999% —
Net margin −267.7% −286.6% −155.7% −477.6% −490.3% −345.4% −71.9% −208.5% −208.9% −318.1% <−999% <−999% <−999% <−999% <−999% <−999% <−999% —
Free-cash-flow margin −154.9% −197.2% −203.3% −547.5% −115.5% −298.4% −37.5% −184.6% −174.1% −248.1% <−999% <−999% <−999% <−999% <−999% <−999% <−999% —
Cash flow
Cash from operations −14 −12 −20 −22 −15 −30 −12 −63 −63 −74 −98 −178 −216 −216 −124 −104 −89 −81
Capital spending 0 0 0 0 0 1 3 3 10 2 1 2 1 1 0 0 0 0
Free cash flow −14 −12 −20 −23 −16 −31 −15 −65 −74 −76 −99 −179 −217 −217 −125 −105 −89 −81
Stock-based pay 2 1 2 1 2 5 6 10 13 11 11 16 26 23 11 7 4 3
Free cash flow after stock pay −16 −13 −22 −24 −17 −37 −21 −76 −87 −86 −110 −195 −243 −240 −136 −111 −93 −84
Balance sheet
Cash 30 20 17 6 34 41 58 19 24 24 22 251 71 46 14 66 44 32
Total debt 0 0 0 0 0 0 0 0 0 0 63 0 0 17 17 — 0 0
Net debt (negative = net cash) −30 −20 −17 −6 −34 −41 −58 −19 −24 −24 41 −251 −71 −30 2 −66 −44 −32
Diluted shares — 2m 3m 3m 4m 5m 6m 6m 7m 8m 8m 13m 17m 20m 22m 27m 47m 65m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 2 checks passed · June 30, 2026
What it owns · $49m
Short-term assets $40mLonger-term assets $9m
What it owes, and who funded it · $49m
Short-term liabilities $40mLonger-term liabilities $5mShareholders' equity $4m
  • Short-term assets cover short-term liabilities $40m of assets due within a year against $40m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $40m short-term assets against $5m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Inovio Pharmaceuticals, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+92.4%
year over year
R&D spending
82957.4%
of revenue

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth -100.0% 12.6% 167 of 172
Change in growth rate Growth +0.0pp -0.1pp 83 of 172
Operating margin Profitability -132871.3% -189.4% 172 of 175
Net margin Profitability -130000.0% -157.3% 177 of 180
Free-cash-flow margin Cash generation -136074.5% -145.4% 173 of 176
Stock pay as % of revenue Cash generation 5747.8% 19.2% 177 of 179
Change in share count Balance sheet 92.4% 7.9% 152 of 156

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$36.1M
Institutions reporting
101
Shares held vs prior quarter
▲ 4.6%
Positions opened / closed
21 / 18

Top buyers and sellers, Q2 2026: 48 institutions bought and 33 sold ; the biggest buyer was Two Sigma Investments, LP (+849K shares) and the biggest seller FMR LLC (−885K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
FMR LLC $9.3M 8.5M 25.7% ▼ 9.5%
Jupiter Topco LLC $5.7M 5.2M 15.8% —
Vanguard Capital Management LLC $4M 3.7M 11.1% ▲ 25.8%
Boxer Capital Management, LLC $3.1M 2.8M 8.7% ▲ 20.0%
ADAR1 Capital Management, LLC $2.4M 2.1M 6.5% ▲ 45.8%
D. E. Shaw & Co., Inc. $1.5M 1.4M 4.1% ▼ 38.9%
Two Sigma Investments, LP $1.4M 1.2M 3.8% ▲ 217.6%
Eversept Partners, LP $1.1M 1.0M 3.2% 0.0%
Geode Capital Management, LLC $883,749 803K 2.4% ▲ 0.2%
Millennium Management LLC $875,718 796K 2.4% ▼ 43.6%
Blackrock, Inc. $856,963 779K 2.4% ▲ 17.7%
Vanguard Fiduciary Trust Co $528,846 481K 1.5% ▲ 22.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Inovio Pharmaceuticals, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Inovio Pharmaceuticals, Inc. disclosed in the last 12 months; 1 earlier trade on record.

  • Chris Jacobs(R-NY 27):Sale (full), $1,001 - $15,000, traded September 8, 2020, filed November 6, 2020

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • August 12, 2026
  • July 29, 2026
  • May 13, 2026
  • March 12, 2026
  • November 10, 2025
  • August 12, 2025

Recent SEC filings

Data status

When each part of this page on Inovio Pharmaceuticals, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Inovio Pharmaceuticals, Inc. in brief

What does Inovio Pharmaceuticals, Inc. do?
Inovio Pharmaceuticals, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Inovio Pharmaceuticals, Inc.'s stock ticker?
Inovio Pharmaceuticals, Inc. trades under the ticker INO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Inovio Pharmaceuticals, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Inovio Pharmaceuticals, Inc. reported revenue of $0, 100.0% lower than a year earlier, according to its SEC filings.
What is Inovio Pharmaceuticals, Inc.'s free cash flow?
Inovio Pharmaceuticals, Inc.'s free-cash-flow margin is -136074.5% of revenue over the trailing twelve months, ranking 173 of the 176 biotechnology companies we cover.
Who are Inovio Pharmaceuticals, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are FMR LLC, Jupiter Topco LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Inovio Pharmaceuticals, Inc.'s market cap?
On November 2, 2026, Inovio Pharmaceuticals, Inc.'s market capitalisation was about $123M and net debt of -$31.5M. Market figures come from third-party market data and may be delayed.
When is Inovio Pharmaceuticals, Inc.'s next earnings date?
Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Inovio Pharmaceuticals, Inc. announces its own schedule.