Inovio Pharmaceuticals beats Q1 EPS estimates but awaits key FDA decision on INO-3107 in October

Inovio Pharmaceuticals reported a Q1 2026 GAAP EPS of -$0.28, beating expectations by $0.07, driven by improved cost control and lower operating expenses of $21.9 million. The company’s cash runway extends into Q1 2027, reducing near-term dilution risk. The main focus remains the FDA decision on their drug INO-3107 scheduled for October, which is a binary event that will significantly impact the stock’s outlook. INO-3107 targets a larger patient population with a differentiated profile compared to competitors, but the investment remains high-risk and event-driven, leading to a hold recommendation until regulatory clarity is achieved.