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Inovio Pharmaceuticals, Inc. balance sheet

At the end of fiscal 2025, Inovio Pharmaceuticals, Inc. had total assets of $74.3m, total liabilities of $50.2m and shareholders' equity of $24.1m. It held $44.3m in cash against $0 of debt: net cash of $44.3m.

Balance sheet

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

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents302017634415819242422251714614664432
Receivables—001337166311952210—
Total current assets—23321659991721251388894471448315153986140
Goodwill—101010101010111111111111110———
Total assets—566145881322141741871311445404963491711137449
Deferred revenue (current)—000231315100000————
Total current liabilities—61182914314435353242669743354440
Long-term debt—————————0————————
Total debt000000000063001717—00
Total liabilities—91310352038504544139799612654455045
Shareholders' equity614747345211117612314287346140022211769244
Net debt (negative = net cash)−30−20−17−6−34−41−58−19−24−2441−251−71−302−66−44−32
Shares outstanding—————————————21m23m———

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Inovio Pharmaceuticals, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Inovio Pharmaceuticals, Inc.