Inovio Pharma share fluctuates after results, fax update


Inovio Pharmaceuticals Inc. INO,
-6.08%
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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