Core Insights - INOVIO announced its financial results for Q2 2025 and provided updates on its product development, particularly focusing on INO-3107 for Recurrent Respiratory Papillomatosis (RRP) [1][9] Financial Performance - R&D expenses decreased to $14.5 million in Q2 2025 from $23.1 million in Q2 2024, primarily due to lower drug manufacturing and clinical study expenses [16] - G&A expenses also decreased to $8.6 million in Q2 2025 from $10.2 million in Q2 2024, attributed to reduced stock-based compensation and lower outside services [16] - Total operating expenses fell to $23.1 million in Q2 2025 from $33.3 million in Q2 2024 [16] - Net loss for Q2 2025 was $23.5 million, or $0.61 per share, down from a net loss of $32.2 million, or $1.19 per share, in Q2 2024 [16][19] Product Development Updates - INOVIO completed device DV testing for CELLECTRA 5PSP and requested FDA rolling submission for BLA of INO-3107, aiming for acceptance by year-end 2025 [2][3] - INOVIO is preparing for a confirmatory trial with 100 patients across 20 sites in the U.S. [3] - A retrospective study showed significant clinical benefits of INO-3107, with surgery reduction rates improving from 72% in Year 1 to 86% in Year 2 [4][6] Upcoming Events and Presentations - INOVIO plans to present data on INO-3107 and other DNA medicine candidates at several upcoming conferences, including the American Academy of Otolaryngology and the World Vaccine Congress Europe [7] Cash Position and Guidance - As of June 30, 2025, INOVIO had cash, cash equivalents, and short-term investments totaling $47.5 million, down from $94.1 million at the end of 2024 [16] - The company estimates its cash resources will support operations into Q2 2026, with a projected net cash burn of approximately $22 million for Q3 2025 [11]