Why Inovio Pharmaceuticals (INO) Stock Is Down Today

NEW YORK (TheStreet) -- Inovio Pharmaceuticals  (INO) fell Monday after the company reported first-quarter results that came up short of analysts' expectations.

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.

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The stock was down 6.3% to $2.02 at 10:50 a.m.

INO Chart

INO data by YCharts

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