Inovio Pharmaceuticals (INO) Research & Development (2010 - 2026)
Inovio Pharmaceuticals (INO) posted Research & Development of $10.83 million for Q2 2026, down 25.4% from $14.52 million a year earlier and down 23.1% from the prior quarter.
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Analysis
Inovio Pharmaceuticals (INO) Research & Development (2010 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Research & Development at Inovio Pharmaceuticals was $48.49 million, down 22.1% year-over-year; for FY2025, it was $54.21 million, down 28.3% from FY2024.
- Annual Research & Development has declined for four consecutive years, with a five-year compound annual growth rate of -10.5% (FY2020 to FY2025).
- In prior years, Inovio Pharmaceuticals' Research & Development was $75.62 million in FY2024 (-12.8%), $86.68 million in FY2023 (-53.8%), $187.65 million in FY2022 (-24.7%) and $249.24 million in FY2021 (+164.5%).
- Quarterly Research & Development has run from a low of $10.26 million in Q4 2025 to a high of $92.3 million in Q4 2021 over five years.
- On a year-over-year basis, Research & Development has declined in each of the last seven quarters, with an average decline of 19.0% over the last eight quarters.
- The strongest year-over-year quarter for Research & Development in the past five years was Q4 2021, with growth of 250.9%; the weakest was Q4 2023, with a decline of 59.0%.
- According to Business Quant data, Research & Development for the three prior quarters was $14.07 million (Q1 2026), $10.26 million (Q4 2025) and $13.33 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 638.12 Bn | 556.64 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 462.60 Bn | 435.75 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 358.70 Bn | 313.13 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 272.16 Bn | 228.03 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 250.36 Bn | 223.92 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 227.87 Bn | 183.27 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 184.97 Bn | 159.08 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 162.61 Bn | 109.56 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 132.45 Bn | 104.46 Bn | 2.84 Bn | 993.80 Mn |
| 10 | Inovio Pharmaceuticals | 99.58 Mn | 99.58 Mn | - | 10.83 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 10.83 Mn |
| Mar 31, 2026 | 14.07 Mn |
| Dec 31, 2025 | 10.26 Mn |
| Sep 30, 2025 | 13.33 Mn |
| Jun 30, 2025 | 14.52 Mn |
| Mar 31, 2025 | 16.09 Mn |
| Dec 31, 2024 | 12.89 Mn |
| Sep 30, 2024 | 18.73 Mn |
| Jun 30, 2024 | 23.09 Mn |
| Mar 31, 2024 | 20.91 Mn |
| Dec 31, 2023 | 17.25 Mn |
| Sep 30, 2023 | 15.50 Mn |
| Jun 30, 2023 | 23.74 Mn |
| Mar 31, 2023 | 30.18 Mn |
| Dec 31, 2022 | 42.12 Mn |
| Sep 30, 2022 | 33.09 Mn |
| Jun 30, 2022 | 56.46 Mn |
| Mar 31, 2022 | 55.98 Mn |
| Dec 31, 2021 | 92.30 Mn |
| Sep 30, 2021 | 47.09 Mn |
API Access
Inovio Pharmaceuticals Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=INO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "INO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=INO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();