Trending Stock Update: Inovio Pharmaceuticals, Inc. (NASDAQ: INO)
Inovio Pharmaceuticals, Inc. (NASDAQ: INO) changed 1.82% to recent value of $3.35. The stock transacted 986816 shares during most recent day however it has an average volume of 1002.95K shares. It spotted trading -34.44% off 52-week high price. On the other end, the stock has been noted 74.93% away from the low price over the last 52-weeks.
Inovio Pharmaceuticals, Inc. (INO) recently stated financial results for the third quarter ended September 30, 2019.
Third Quarter 2019 Financial Results
Inovio’s total revenue was $867,000 for the three months ended September 30, 2019, contrast to $2.0M for the same period in 2018. Inovio’s total operating expenses were $24.8M for the three months ended September 30, 2019, contrast to $28.6M for the same period in 2018.
Inovio’s net loss for the quarter ended September 30, 2019 was $23.1M, or $0.23 per basic and $0.25 per diluted share, contrast to $25.0M, or $0.27 per basic and diluted share, for the same period in 2018.
Revenue
The year-over-year decrease in revenue under collaborative research and development arrangements was primarily Because of a decrease in reimbursed drug manufacturing activities related to our joint venture with AstraZeneca.
Operating Expenses
R&D expenses were $19.1M for the three months ended September 30, 2019, as contrast to $21.9M for the same period in 2018. The decrease in R&D expenses was primarily related to decreases in employee compensation expense, drug manufacturing expense related to our joint venture with AstraZeneca and engineering and lab supplies, among other variances. These decreases were offset by a personnel-related restructuring charge in connection with the one-time employee termination costs incurred during the third quarter of 2019.
Contributions received from current grant contracts and recorded as contra-R&D expense were $2.8M for the three months ended September 30, 2019, contrast to $2.6M for the same period in 2018.
General and administrative (G&A) expenses were $5.7M for the three months ended September 30, 2019, versus $6.8M for the same period in 2018. The decrease in G&A expenses was primarily related to decreases in employee compensation, allocated depreciation expense, and legal expenses, among other variances.
The price moved ahead of 4.59% from the mean of 20 days, 21.13% from mean of 50 days SMA and performed 19.72% from mean of 200 days price. Company’s performance for the week was 6.69%, 23.16% for month and YTD performance remained 1.52%.
