Inovio Pharma

Q2 FY2026 EarningsQ2 FY26 resulted in a net loss beat despite zero revenue, which was in-line with consensus. GAAP Net Loss was $6.0M compared to a projected $17.4M loss, primarily driven by a non-cash $13.9M gain from the revaluation of warrant liabilities. GAAP EPS of -$0.07 beat the consensus mean of -$0.2167. However, substantial doubt remains regarding the company's ability to continue as a going concern, with a working capital deficit and cash runway only extending into Q1 FY27.