Home / Going-concern warnings / INOVIO PHARMACEUTICALS, INC.
Filed 2026-03-12 路 Form 10-K 路 Accession 0001055726-26-000008 micro
Price before filing: $1.69 (2026-03-11 close, split/dividend-adjusted)
Market cap at flag: $116.1M (2026-03-12) 路 Latest: $80.8M (2026-10-16)
| Window | INO | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | -35.5% | +1.7% | -37.2% | 2026-04-13 |
| 90 days | -35.5% | +7.6% | -43.1% | 2026-06-10 |
| 180 days | -16.0% | +13.9% | -29.8% | 2026-09-08 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: no open-market insider sales or purchases reported.
30 days after: none reported.
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-12-12 to 2026-04-11. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"As discussed in Note 2 to the financial statements, the Company has suffered recurring losses from operations, has a working capital deficiency, and has stated that substantial doubt exists about the Company's ability to continue as a going concern."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Going-concern opinion issued by: Ernst & Young LLP
Source: independent auditor report in Form 10-K (period 2025-12-31)
Why this score: in auditor's report
Read the original filing on SEC.gov →
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Not investment advice. Automated summary; verify against the filing.
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