Inovio Pharmaceuticals Inc. INO,
shares fluctuated between light gains and losses in the extended session Monday after the biotech company reported results that were short of Wall Street estimates while updating on its COVID-19 vaccine. Inovio shares were up 0.6% after hours last, after 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 to a loss of $ 29.4 million, or 30 cents a share, in the period last year. Revenue rose to about $ 267,000 from about $ 136,000 in the annual quarter. Analysts surveyed by FactSet had forecast a loss of 17 cents a share on revenue of $ 2.6 million. The company said it conducted a 40-patient clinical trial of the patient extended by another 80 participants and that most patients showed 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 controlled the fax machine.
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