For the year ending 2025-12-31, INO had -$21,539,978 decrease in cash & cash equivalents over the period. -$88,915,128 in free cash flow.
| Cash Flow | 2025-12-31 |
|---|---|
| Net loss | -84,945,901 |
| Depreciation | 1,417,913 |
| Amortization of operating lease right-of-use assets | 1,570,917 |
| Change in fair value of common stock warrant liabilities | -493,231 |
| Non-cash stock-based compensation | 3,755,788 |
| Non-cash interest on senior convertible notes | 0 |
| Amortization of discounts on investments | 2,399 |
| Loss on sales of short-term investments | -890,916 |
| Net gain on disposal of fixed assets | 0 |
| (gain) loss on equity investment in affiliated entity | 489,844 |
| Net unrealized gain on available-for-sale equity securities | 1,114,781 |
| Prepaid expenses and other current assets, including from affiliated entity | -1,105,639 |
| Other assets | 32,821 |
| Accounts payable and accrued expenses, including due to affiliated entity | -6,423,085 |
| Accrued clinical trial expenses | -1,371,180 |
| Operating lease right-of-use assets and liabilities, net | -2,497,361 |
| Net cash used in operating activities | -88,629,430 |
| Purchases of investments | 4,946,073 |
| Proceeds from sale of investments | 14,271,128 |
| Proceeds from maturity of investments | 5,000,000 |
| Purchases of capital assets | 285,698 |
| Proceeds from sale of capital assets | 0 |
| Net cash provided by investing activities | 14,039,357 |
| Repayment of convertible senior notes | 0 |
| Proceeds from issuance of warrants, net of issuance costs-Pre Funded Warrants | 0 |
| Proceeds from issuance of common stock, net of issuance costs | 34,908,593 |
| Proceeds from issuance of warrants, net of issuance costs-Warrant | 16,986,830 |
| Proceeds from warrant exercises | 1,264,632 |
| Proceeds from stock option exercises | 823 |
| Taxes paid related to net share settlement of equity awards | -110,783 |
| Net cash provided by financing activities | 53,050,095 |
| Effect of exchange rate changes on cash and cash equivalents | 0 |
| (decrease) increase in cash and cash equivalents | -21,539,978 |
| Cash and cash equivalents, beginning of period | 65,813,297 |
| Cash and cash equivalents, end of period | 44,273,319 |
INOVIO PHARMACEUTICALS, INC. (INO)
INOVIO PHARMACEUTICALS, INC. (INO)