Inovio Pharmaceuticals, Inc. (INO) is a development-stage pharmaceutical company focused on the development of synthetic vaccines for the treatment of cancer and infectious diseases. This Pennsylvania-based company has several early- and mid-stage candidates in its pipeline.
With Inovio not having any approved product in its portfolio, investor focus remains on pipeline updates. VGX-3100 is the most advanced candidate in the company’s pipeline. VGX-3100 is being developed for the treatment of pre-cancerous cervical dysplasia.
Apart from VGX-3100, Inovio is working on the development of other candidates as well. The company is evaluating INO-3112 (a combination of VGX-3100 and its IL-12 immune activator) for HPV-caused cervical cancer and head and neck cancer. Apart from these the company has several early-stage candidates including INO-5150 (prostate cancer) and INO-1400 (breast, lung and pancreatic cancer).
Inovio’s track record has been disappointing with the company recording negative earnings surprises in three of the four trailing quarters with an average negative surprise of 100.21%.
Currently, Inovio has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Inovio reported wider-than-expected loss in the second quarter of 2015. Our consensus called for a loss of 4 cents per share while the company reported a loss of 9 cents per share.
Revenues: Revenues also missed expectations by a wide margin. Inovio posted revenues of $5.3 million, compared to our consensus estimate of $11 million.
Key Stats: Inovio continues to progress with its pipeline. Currently, the most advanced candidate in the company’s pipeline is VGX-3100. The company is preparing to commence a phase III registration study on VGX-3100 in early 2016.
Apart from results, Inovio announced that it has entered into a license and collaboration agreement with the global biologics research and development arm of AstraZeneca, MedImmune. As per the terms of the agreement, AstraZeneca will acquire exclusive rights to Inovio's INO-3112 (phase I/II study – cervical and head and neck cancers). AstraZeneca will make an upfront payment of $27.5 million and potential milestones payments totaling up to $700 million.
Check back later for our full write up on earnings report later!
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