Inovio Pharmaceuticals, Inc. Q4 FY2025 earnings call

• Dr. Jackie Shea noted the BLA for INO 3107 for recurrent respiratory papillomatosis (RRP) is under FDA review, accepted under the Accelerated Approval Program but with a potential review issue on eligibility. They are waiting for an FDA meeting date and continuing commercial preparations. - Inovio has re - scoped projects and conserved financial resources to extend the cash runway. - Leveraging partnerships to advance other candidates, such as a phase two adaptive platform trial in glioblastoma with Akizo. - Steve Ege provided a commercial update on the burden of RRP and 3107's potential, and details on commercial launch preparations. - Jackie Shea gave an update on the DNA medicine platform and other pipeline candidates.

Inovio finished the fourth quarter of 2025 with $58.5 million in cash, cash equivalents, and short - term investments, compared to $94.1 million as of December 31, 2024. Total operating expenses dropped from $20.5 million in the fourth quarter of 2024 to $17.5 million in the fourth quarter of 2025. Full - year operating expenses decreased 23% from $112.6 million in 2024 to $86.9 million in 2025. The company is focused on advancing INO 3107 towards approval and has taken steps to conserve financial resources while advancing other pipeline candidates.

• Estimated cash runway extended into the fourth quarter of the current year. - Focus on advancing INO3107 towards U.S. approval with the PDUFA target date of October 30, 2026. - Continued leverage of partnerships to advance other pipeline candidates.

Actual events or results could differ materially from those expressed. Refer to SEC filings' risk factors which identify important factors that could cause actual results to differ materially.

Q: Regarding conversations with the FDA upcoming regarding accelerated approval, are there any additional data needed?

A: No new clinical data, but an assessment aid was submitted in February to reiterate the BLA submission and expand the rationale for accelerated approval review.

Q: If alignment with the FDA on priority review is gained, how would it impact the launch?

A: Currently focused on the accelerated program, but is well advanced in commercial preparation and prepared to launch quickly if approved.

Q: Feedback from KOLs and patients on INO 3107's uptake?

A: Patients and physicians appreciate INO 3107's efficacy, tolerability, and treatment regimen compared to the competitor.

Q: Using partners to incorporate learnings from PAPZMEO's rollout?

A: Learning from the competitor's rare disease experience and INO 3107's differences like no ultra - cold chain.

Q: Biological rationale of the KESO partnership?

A: Synergism between CTLA - 4 and PD - 1 with INO5412 in glioblastoma to enhance immune responses against tumor - associated antigens