Inovio said during the call of merit it was exploring partnerships outside the United States and Europe for its vaccine candidate, and expected repetitive revenue similar to that of the flu vaccine.
The company reiterated its previous estimate of producing one million doses this year and 100 million by 2021, saying it intends to obtain additional external funding to scale up the manufacture of the vaccine.
Inovio claimed that the vaccine could be stored for more than a year at room temperature and in a normal refrigerator for up to 5 years.
View more revenue on INO
Total revenue was $ 267,000, compared to $ 136,000 for the same period in 2019.
Factset analysts had forecast a loss of 17 cents per share and revenue of $ 2.6 million, MarketWatch reported.
The company attributed the net loss to a liability for derivatives, which mandates revaluation on each reporting period. Without this issue, the net loss per share would have been 20 cents, it claimed.
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