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Inovio: 3Q Earnings Snapshot

·1 min read

PLYMOUTH MEETING, Pa. (AP) _ Inovio Pharmaceuticals Inc. (INO) on Monday reported third-quarter net income of $19.2 million, after reporting a loss in the same period a year earlier.

The Plymouth Meeting, Pennsylvania-based company said it had net income of 11 cents per share. Losses, adjusted for non-recurring gains, were 22 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.

The drugmaker posted revenue of $236,200 in the period. Its adjusted revenue was $236,000, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $3.7 million.

Inovio shares have more than doubled since the beginning of the year. In the final minutes of trading on Monday, shares hit $8.50, more than tripling in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INO at https://www.zacks.com/ap/INO