BLUE BELL, Pa., March 17, 2011 /PRNewswire/ — Inovio
Pharmaceuticals, Inc. (NYSE AMEX:
INO) today reported financial results for the fourth quarter
and year ended December 31, 2010.
Total revenue was $2.4 million and $6.1 million for the quarter
and year ended December 31, 2010, compared to $2.6 million and $9.1
million for the quarter and year ended December 31, 2009.
Total operating expenses for the quarter and year ended December
31, 2010, were $7.6 million and $25.4 million, compared to $6.4
million and $23.1 million for the quarter and year ended December
31, 2009.
The net loss attributable to common stockholders for the quarter
and year ended December 31, 2010, was $6.3 million, or $0.06 per
share, and $17.6 million, or $0.17 per share, compared with a net
loss attributable to common stockholders of $7.3 million, or $0.07
per share, and $24.4 million, or $0.33 per share, for the quarter
and year ended December 31, 2009.
Revenue Revenue from license fees and milestone revenue was
$146,000 and $527,000 for the quarter and year ended December 31,
2010, compared to $298,000 and $4.9 million for the quarter and
year ended December 31, 2009. The decreases in the respective
periods were mainly due to no revenue being recognized in 2010
under the terminated Wyeth collaboration and licensing agreement as
a result of the cancellation of the agreement in July 2009.
During the quarter and year ended December 31, 2010, Inovio
recorded grant and miscellaneous revenue of $2.2 million and $5.6
million, compared to $2.4 million and $4.0 million for the quarter
and year ended December 31, 2009. The decrease for the
comparable three-month periods was primarily due to lower revenue
recognized from our contract with the National Institute of Allergy
and Infectious Diseases (NIAID) offset by the $733,000 grant
awarded in October 2010 under The Patient Pr
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