Inovio reported a first-quarter loss of $10 million, or 5 cents a share, compared to a loss of $6.6 million, or 4 cents a share, in the same period one year earlier. This was slightly wider than the consensus estimate of a loss of 4 cents a share.
Revenue totaled $2.4 million, up year over year from $1.5 million. This surpassed analysts' estimates of $1.41 million; however, this increase was due primarily to $1.4 million attributable to the company's agreement with Roche. This portion of revenue mostly consisted of development fees paid for work Inovio performed in the first quarter.
The stock was down 6.3% to $2.02 at 10:50 a.m.