Inovio: 3Q Earnings Snapshot
PLYMOUTH MEETING, Pa. (AP) _ Inovio Pharmaceuticals Inc. (INO) on Tuesday reported a loss of $23.1 million in its third quarter.
The Plymouth Meeting, Pennsylvania-based company said it had a loss of 25 cents per share. Losses, adjusted for non-recurring gains, came to 27 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for a loss of 27 cents per share.
The drugmaker posted revenue of $866,900 in the period. Its adjusted revenue was $867,000, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $2.7 million.
In the final minutes of trading on Tuesday, the company’s shares hit $2.44. A year ago, they were trading at $4.92.