INOVIO PHARMACEUTICALS, INC.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $65,343 | $217,756 | $832,010 | $10.3M | $1.8M |
| Operating income | -$86.8M | -$112.4M | -$143.9M | -$267.6M | -$301.2M |
| Operating expenses | $86.9M | $112.6M | $144.8M | $277.8M | $303.0M |
| Cash from operations | -$88.6M | -$104.1M | -$124.4M | -$216.2M | -$215.7M |
| Capital expenditure | $285,698 | $487,832 | $320,898 | $969,153 | $1.2M |
| Free cash flow | -$88.9M | -$104.6M | -$124.7M | -$217.2M | -$216.9M |
| Impairments | — | $0 | $10.5M | $0 | $0 |
| Total assets | $74.3M | $113.2M | $171.0M | $348.5M | $495.9M |
| Total liabilities | $50.2M | $44.7M | $53.6M | $126.2M | $96.3M |
Shares outstanding 82.3M · Free float 98.6%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.