In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Hold rating on Inovio Pharmaceuticals (INO – Research Report), with a price target of $15.00.
Ram Selvaraju has given his Hold rating due to a combination of factors regarding Inovio Pharmaceuticals’ current financial and operational status. The recent financial results revealed a net loss greater than anticipated, yet the company is making steady progress towards the submission of a Biologics License Application for INO-3107. Selvaraju acknowledges the potential of INO-3107 as a breakthrough non-surgical treatment for Recurrent Respiratory Papillomatosis (RRP), which could validate INOVIO’s DNA medicine platform. While the company has sufficient cash to fund operations into the third quarter of 2025, there is an expectation of additional capital raising within the next year.
Selvaraju’s report also considers the promising clinical data surrounding INO-3107, including its durable cellular response and reduction in the need for surgical interventions among trial participants. However, the upcoming confirmatory trial, necessary for expansion into global markets, is estimated to require approximately two years to complete in the United States, introducing a timeline that could delay immediate returns. This time frame, combined with the potential need for further capital infusion, contributes to Selvaraju’s Hold rating, balancing the optimistic clinical prospects against the financial and operational realities.
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Inovio Pharmaceuticals (INO) Company Description:
Inovio Pharmaceuticals, Inc. is a late-stage biotechnology company, which engages in the discovery, development, and commercialization of DNA-based immunotherapies and vaccines. Its drug candidates include SynCon immunotherapies which helps break the immune system’s tolerance of cancerous cells; and CELLECTRA delivery system which facilitates optimized cellular uptake of the SynCon immunotherapies. The company was founded by David B. Weiner on June 29, 1983 and is headquartered in Plymouth Meeting, PA.
