Inovio Pharmaceuticals Inc ( INO ) shares are trading higher on Friday morning after the company reported fourth-quarter results that topped Wall Street's loss estimate and highlighted progress on its lead DNA medicine candidate. Here’s what investors need to know.

Inovio Pharmaceuticals ( INO ) stock is building positive momentum. What’s driving INO shares up?

Inovio Posts Smaller Q4 Loss, Beats Analyst Estimates

Inovio said fourth-quarter diluted loss was 26 cents per share, better than the 38-cent analyst consensus cited by Benzinga and improved from a 65-cent loss a year earlier. For full-year 2025, the company posted a net loss of $84.9 million, compared with $107.3 million in 2024, while total operating expenses fell to $86.9 million from $112.6 million.

Fourth-quarter results were helped by a $21.2 million non-cash gain tied to warrant liabilities, a swing that management said can create volatility in reported income.

Investors also appeared encouraged by regulatory and liquidity updates. Inovio said the FDA has accepted its biologics license application for INO-3107, a potential treatment for recurrent respiratory papillomatosis, with a target action date of Oct. 30.

Inovio Cash Runway Extends Into Q4 2026

The company ended 2025 with $58.5 million in cash, cash equivalents and short-term investments and said current resources are expected to fund operations into the fourth quarter of 2026, including an estimated first-quarter 2026 operational net cash burn of about $22 million.

The company is also advancing commercialization plans for INO-3107 and announced a trial collaboration with Akeso to study INO-5412 in glioblastoma, giving investors another pipeline catalyst.

INO Stock Momentum Stays Mostly Neutral On RSI

Inovio's RSI has mostly stayed in the neutral range (30–70) over the past year, indicating generally balanced momentum without prolonged overbought or oversold conditions.

The indicator briefly approached overbought levels above 70 at a few points and dipped near oversold territory around 30, suggesting short periods of stronger buying or selling pressure.

INO Shares Edge Higher Friday

INO Price Action: Inovio Pharmaceuticals ( INO ) shares were up 2.38% at $1.72 at the time of publication on Friday, according to Benzinga Pro data.

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