Inovio Pharmaceuticals, Inc. (INO) AI Stock Analysis

Inovio Pharmaceuticals, Inc. is a biotechnology company based in Plymouth Meeting, Pennsylvania, focused on the discovery, development, and commercialization of DNA medicines. It utilizes its proprietary SynCon technology to identify and optimize DNA sequences targeting specific antigens, delivered via its CELLECTRA smart devices. Inovio conducts clinical studies for HPV-associated precancers, HPV-related cancers, glioblastoma multiforme, prostate cancer, HIV, Ebola, MERS, and Lassa fever. The company collaborates with organizations such as AstraZeneca, the Bill & Melinda Gates Foundation, DARPA, NIH, Regeneron Pharmaceuticals, and the University of Pennsylvania, and maintains an agreement with Richter-Helm BioLogics GmbH & Co. KG regarding its INO-4800 COVID-19 investigational vaccine.

Inovio's revenue has dropped significantly from $10.3M in FY2022 to $832,010 in FY2023, $217,756 in FY2024, and $65,343 in FY2025. In FY2025, operating margin was -132871.3% and net income was -$84.9M, representing an EPS of -$2.27. Annual research and development expense narrowed from $249.2M in FY2021 to $54.2M in FY2025. For the trailing twelve months ending June 30, 2026, the company generated $0 in revenue, with quarterly revenue falling 100.0% year-over-year. TTM net loss translated to an EPS of -$0.90, alongside a return on equity of -409.9% and return on assets of -84.2%.

As of June 30, 2026, Inovio reported $36.7M in cash and short-term investments and $8.0M in total debt, yielding a net cash position of $28.7M. Shareholders' equity was $4.4M, with a current ratio of 1.00 and a debt-to-equity ratio of 1.83. Cash flow remains negative, as free cash flow was -$88.9M in FY2025 on operating cash flow of -$88.6M. Capital expenditures were $285,698 during FY2025, while the share count expanded by 357.9% over a five-year span.

Inovio trades at a market cap of $102.4M and an enterprise value of $104.7M. Its forward P/E of 16.6x compares to the median of 17.3x for its US-listed Healthcare peers. Because of minimal trailing revenue, the company's price-to-sales ratio stands at 961.5x and EV-to-revenue is 921.1x, compared to the peer median price-to-sales of 4.1x. Over the past year, the stock fell 59.8%, while the S&P 500 (SPY) gained 16.8%. Over five years, the shares declined 98.8% against an 83.0% gain for the benchmark.

Wall Street coverage consists of 1 Strong Buy, 1 Buy, and 1 Hold rating. The mean price target is $3.17, which represents a 219.9% premium over the last close of $0.99. Analysts project an EPS of -$0.73 on revenue of $666,670 for the fiscal year ending December 31, 2026. For the following fiscal year, two analysts project revenue of $50.6M and an EPS of -$0.44. Inovio beat EPS estimates in 3 of the last 4 quarters, with its next earnings release scheduled for November 9, 2026.

This page is an AI-written research summary of Inovio Pharmaceuticals, Inc. (INO). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: INO income statement, INO balance sheet, INO key metrics, INO analyst forecast, INO chart. See the INO stock overview for the latest quote and news.