Inovio Pharmaceuticals Inc. (INO) shares fluctuated between slight gains and losses in the extended session Monday after the biotech company reported results that fell short of Wall Street estimates while it updated progress on its COVID-19 vaccine. Inovio shares were last up 0.6% after hours, following a 6.1% decline in the regular session to close at $18.99. For the year, shares are up 475%. The company reported a second-quarter loss of $128.7 million, or 83 cents a share, compared with a loss of $29.4 million, or 30 cents a share, in the year-ago period. Revenue rose to about $267,000 from about $136,000 in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 17 cents a share on revenue of $2.6 million. The company said it expanded a 40-patient early-stage clinical trial by another 80 participants and that most patients were showing an immunological response to the vaccine. Inovio also said it received $71 million from the Department of Defense to support large-scale manufacturing of its Cellectra device that administered the vaccine.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 10, 2020 17:17 ET (21:17 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.