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Why Inovio Pharmaceuticals is Down 17 Percent Monday (INO)

Shares of Inovio Pharmaceuticals (NYSE: INO) are down 17 percent in mid day trading Monday after the company reported earnings that disappointed the street Friday after the closing bell. The company reported a second quarter EPS loss of $(0.06) versus consensus of $(0.04), This represented a 100 percent lost year over year.

In the release, the company reported revenue of $786,000 and $2.2 million for the three and six months ended June 30, 2013, which compared to $436,000 and $2.1 million for the same periods in 2012. Analysts were expecting revenue of $1.3 million for the recent quarter. The company said it took a bigger loss in the second quarter on one-time charges related to its increased stock price.

Related: Why Inovio Pharmaceuticals was Up 28 Percent Tuesday (INO)

The company also went into great detail about its product pipeline. Among the news, it said:

Inovio intends to advance its prostate cancer DNA vaccine (INO-5150) into phase I by the end of 2013. Preclinical results indicated that this therapeutic vaccine induced potent antibody and T-cell responses in animal models, providing initial evidence that its concept for a DNA vaccine comprising a broader set of antigens could improve the breadth and effectiveness of a prostate cancer immunotherapy when delivered with electroporation.

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Company Profile

(from the press release)

Inovio is revolutionizing vaccines to prevent and treat today’s cancers and challenging infectious diseases. Its SynCon® vaccines, in combination with its proprietary electroporation delivery, are generating best-in-class immune responses, with therapeutic T-cell responses exceeding other technologies in terms of magnitude, breadth, and response rate. Human data to date have shown a favorable safety profile.

Inovio’s lead vaccine, a therapeutic against HPV-caused precancers and cancers, is in phase II. Other phase I and preclinical programs target prostate, breast, and lung cancers as well as HIV, influenza, malaria and hepatitis C virus. Partners and collaborators include the University of Pennsylvania, Merck, NIH, HIV Vaccines Trial Network, National Cancer Institute, U.S. Military HIV Research Program, University of Southampton, US Dept. of Homeland Security, University of Manitoba and PATH Malaria Vaccine Initiative

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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