Inovio Pharmaceuticals' (NASDAQ: INO) stock rose by more than 18.5% as of 2:30 p.m. ET on Wednesday after the company's Q2 earnings results broke the news of its plans to restructure its operations to conserve cash. The biotech will lay off 18% of its full-time employees while additionally reducing its contractor head count by a massive 86%. Inovio also announced the appointment of a new chief medical officer, Dr. Michael Sumner, which might be another contributing factor to the gain of its stock today.
Good afternoon, and thank you for joining the Inovio second quarter 2022 financial results conference call. Joining me today on today's call are Dr. Jacque Shea, president and CEO; Mr. Peter Kies, chief financial officer; Dr.
Inovio (INO) delivered earnings and revenue surprises of -53.33% and 264.65%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?