Oppenheimer lowered the firm’s price target on Inovio (INO) to $13 from $15 and keeps an Outperform rating on the shares. The firm notes the company reported Q1 2025 results with $25.1M OpEx and cash balance of $68.4M, which is expected to provide runway into Q1 2026. Encouragingly, Inovio remains on track to initiate rolling BLA submission for INO-3107 in mid-2025, and subsequent filing completion in the second half of 2025 could support potential approval as early as mid-2026 if granted priority review, Oppenheimer adds.
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