Inovio Pharmaceuticals: Hold Rating Amid Promising Developments and Financial Challenges

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Hold rating on Inovio Pharmaceuticals (INO – Research Report), with a price target of $3.00.

Ram Selvaraju’s rating is based on a combination of factors related to Inovio Pharmaceuticals’ recent financial performance and future prospects. The company reported a net loss of $107.3 million for the year 2024, which was in line with expectations, although the fourth-quarter loss was less than anticipated. A significant positive development is the resolution of manufacturing issues with the CELLECTRA device, allowing the company to proceed with the Biologics License Application for INO-3107, expected to start in mid-2025.
Additionally, the recent publication of Phase 1/2 trial data for INO-3107 in Nature Communications showed promising results, with a majority of patients requiring fewer surgeries post-treatment. The company’s DMAb technology also demonstrated durable in vivo antibody production in a Phase 1 trial, which is encouraging for long-term therapeutic applications. However, despite these positive developments, the company’s focus remains heavily on INO-3107, and the financial losses and pending regulatory milestones contribute to the Hold rating.