Inovio Pharmaceuticals (INO) Research & Development (2009 - 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.
Powered by 
Analysis
Inovio Pharmaceuticals (INO) Research & Development (2009 - 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 | Eli Lilly | 1,348.13 Bn | 1,321.74 Bn | 20.46 Bn | 4.25 Bn |
| 2 | Johnson & Johnson | 675.90 Bn | 595.76 Bn | 17.30 Bn | 4.65 Bn |
| 3 | AbbVie | 519.45 Bn | 487.50 Bn | 13.12 Bn | 2.57 Bn |
| 4 | Merck | 364.95 Bn | 327.95 Bn | 13.19 Bn | 4.54 Bn |
| 5 | Novartis Ag | 311.58 Bn | 285.16 Bn | - | - |
| 6 | Astrazeneca | 289.34 Bn | 262.94 Bn | 13.26 Bn | 3.89 Bn |
| 7 | Amgen | 251.64 Bn | 203.30 Bn | 7.58 Bn | 2.11 Bn |
| 8 | Gilead Sciences | 212.05 Bn | 187.07 Bn | 6.73 Bn | 1.61 Bn |
| 9 | Pfizer | 167.35 Bn | 115.00 Bn | 12.56 Bn | 3.02 Bn |
| 10 | Inovio Pharmaceuticals | 143.02 Mn | -38.21 Mn | - | 10.62 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 10.62 Mn |
| 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 |
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();