INOVIO PHARMACEUTICALS, INC. INO Cash Flow

Inovio pharmaceuticals, inc. (INO)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-33,135	-38,147	-23,536	-29,579	-29,288	-32,962	-25,015	-6,639	-32,350	-21,506	-34,134	-9,479	-23,085	-26,233	-20,759	-18,704	-8,042	-17,952	5,594	-6,162	-10,582	-7,412	-7,179	-10,717	-10,830	-15,467	-30,890	-10,866	-8,858	-671	-6,632	-4,144	-8,264	-5,488	-4,556	-2,837	-2,422
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation
809	851	883	932	930	979	927	943	897	70	759	498	522	415	465	439	387	314	282	237	213	197	184	128	115	204	43	41	39	49	46	40	36	40	35	34	32
Amortization of Intangible Assets
137	266	267	266	267	266	266	312	404	404	404	404	406	408	412	347	209	212	215	219	223	230	234	237	239	437	439	445	447	450	453	456	460	462	466	469	471
Amortization of operating lease right-of-use assets
271	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in fair value of common stock warrants
-	-	-	-	-	0	-228	-259	127	-579	-423	312	-116	-644	-2	110	409	290	-518	49	1	-143	113	-824	505	6,052	34,952	3,199	1,427	-3,049	1,113	-3,594	3,548	-1,113	-346	-4,898	-2,331
Change in fair value of derivative liability
13,221	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
4,001	2,033	2,079	3,355	3,432	2,138	2,351	2,589	3,575	2,677	2,456	2,564	5,372	3,094	2,133	2,193	3,057	1,285	1,127	1,361	2,411	880	795	1,233	2,519	529	544	274	519	168	299	274	602	222	281	169	981
Non-cash interest expense
213	-	-	-	656	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transaction costs associated with issuance of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	315	0	0	0	0	-	-	-	-
Amortization of premiums on investments
0	-	0	0	1	-	0	16	55	-	85	71	69	-	60	73	66	-	87	83	71	-	0	0	0	-	-0	0	-0	0	-0	-1	0	-	-	-	6
Loss on short-term investments
-475	238	144	129	-35	-784	-184	-120	-253	-137	-10	-15	-51	-	44	4	-4	-	-	-	-1	-	-1	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Settlement of receivable with shares of common stock from affiliated entity (PLS)
1,713	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of fixed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	-	0	0	-2	-1	0	0	0	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13
Change in Value of Investments in Affiliated Company
13,181	-1,681	-485	-173	-750	-3,293	1,017	-2,092	2,380	292	-5,835	169	-1,608	-4,706	-958	-705	7,480	-3,249	-659	8,861	-2,352	3,342	1,168	-1,458	-376	-1,419	3,248	-2,032	-836	2,449	736	-992	-561	-840	1,427	-2,607	-370
Transaction costs associated with issuance of warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	315	-	0	0	0	-	-	-	-
Gain on sale of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	500	0	651	0	337	0	250
Tax benefit from other unrealized gains on short-term investments
0	69	0	-117	-217	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized transaction loss on foreign-currency denominated debt
-681	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable
-58	-76	646	-2,653	-533	484	1,118	-3,434	-855	-233	-1,285	-2,342	-5,956	-1,600	7,089	-786	3,819	-3,663	5,356	2,309	495	1,180	-1,254	177	-601	-7,308	10,033	-488	198	348	49	-444	408	40	79	203	111
Accounts receivable from affiliated entities
-697	353	-18	-298	557	-829	607	-1,282	1,755	-438	-264	-43	484	714	0	0	0	-	-	-	-	-	-	-	18	-	0	-43	7	-98	100	-5	0	10	-62	65	-46
Prepaid expenses and other current assets
894	-93	-631	922	-19	-195	-183	-216	-598	-1,937	-375	708	2,457	357	203	65	205	-431	797	-106	-140	212	-131	209	-129	165	-238	490	-188	-105	-110	-162	14	-119	43	476	71
Prepaid expenses and other current assets from affiliated entities
740	-530	480	-340	320	-986	319	112	-171	848	-254	-565	304	-184	-185	343	927	-23	-411	-972	635	-206	1,068	-1,252	-284	1,715	-190	-69	-54	200	-127	413	-40	94	-645	-128	467
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	-	-	-	-
Other assets
-191	-59	-122	-128	311	44	-98	275	-190	442	522	149	-587	631	155	294	361	73	16	-83	190	72	-0	0	0	0	-26	0	-0	0	0	31	-16	0	0	-46	-4
Accounts payable and accrued expenses
-7,217	8,453	-3,604	-2,187	-6,999	5,438	4,555	-3,080	-6,363	1,710	5,424	1,337	-5,643	3,418	3,196	1,374	-1,621	4,065	2,895	1,481	-1,986	1,896	-995	-48	73	1,331	310	301	180	69	-165	592	-1,287	1,275	433	561	-480
Accrued clinical trial expenses
1,011	-	-	-	1,487	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued clinical trial expenses
-	-	-	-	-	-	-3,006	1,930	-183	-	731	1,278	-458	-847	2,209	855	1,550	-341	395	1,279	-740	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued expenses due to affiliated entities
-466	267	-190	-662	337	286	90	-698	371	144	-64	318	-543	579	-107	393	42	-2,647	-603	3,412	-23	-65	-610	-75	257	27	449	-332	190	77	56	-28	61	-586	-150	88	-1,011
Deferred revenue
-26	-36	-7	-15	-121	-10	-553	-23,354	22,900	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred revenue
-	-	-	-	-	-	-	-	-	-	-	-	2,207	-	318	-96	1,420	565	12,521	-57	-2,838	207	59	-675	147	1,830	1,616	-113	-153	267	54	-8	-32	5	-145	-32	-160
Deferred revenue from affiliated entities
-31	-33	-31	93	-31	-34	13	-1	-117	-69	-30	-94	-125	-125	-125	0	-437	-139	240	-37	-112	-112	-112	-37	-106	-106	-106	-56	-106	-106	-106	-56	-106	-106	-106	-55	-93
Deferred rent
-	-	-	-	-	-	-	-	-	-1,354	-384	-661	-1,208	-108	93	41	-9	-65	-76	-117	-124	-173	-213	-230	-144	-109	235	-542	6	4	5	5	0	-	-	-	-
Operating lease right-of-use assets and liabilities, net
-517	-1,111	163	-649	-136	-	-100	-90	-87	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Grant funding liability
7,026	4,168	-574	1,191	-2,886	2,868	-1,323	2,620	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Grant funding liability from affiliated entities
-49	-12	11	829	-12	-12	-149	188	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
36	-13	-0	-11	-23	-12	99	-261	261	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in operating activities
-25,452	-13,737	-27,733	-23,924	-32,454	-17,281	-24,670	-19,023	-12,575	-13,948	-17,313	-16,719	-15,227	-14,902	-18,642	-13,269	-15,739	-6,773	15,424	-9,021	-12,068	-8,074	-8,043	-8,148	-5,557	874	-5,704	-5,421	-5,130	-5,522	-6,033	-5,313	-5,437	-4,534	-5,266	-4,452	-5,502
Cash flows from investing activities:
Purchases of investments
56,698	14,000	13,251	8,499	65,198	40,285	16,550	21,750	9,568	13,431	67,668	8,674	5,925	14,822	14,509	15,822	12,162	26,134	2,198	30,204	4,989	27,897	11,001	2,286	5,999	9,707	0	5,291	400	1,500	1,323	3,210	3,108	12,425	2	2,100	3,666
Proceeds from sale or maturity of investments
5,030	24,549	21,655	30,168	16,520	47,811	31,095	16,227	37,525	27,890	17,098	7,291	24,882	24,807	24,058	15,156	12,505	5,739	1,000	559	3,186	4,852	1,000	0	6,900	3,889	0	0	450	4,000	4,283	3,454	2,271	5,366	0	0	1,840
Purchases of capital assets
140	114	133	81	658	343	127	461	1,153	878	3,587	5,038	789	66	475	1,515	681	825	782	646	526	172	320	705	181	-73	184	26	39	21	16	106	96	47	18	36	59
Proceeds from sale of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	500	0	150	-	-	-	-
Proceeds from sale of intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100	0	250
Net cash used in investing activities
-51,808	10,434	8,269	21,587	-49,337	7,182	14,418	-5,984	26,803	14,581	-54,157	-6,422	18,167	9,918	9,073	-2,381	-338	-21,221	-1,981	-29,291	-2,329	-23,217	-10,321	-2,992	718	-4,744	-184	-4,318	10	2,478	3,443	137	-784	-7,106	-21	-2,136	-1,635
Cash flows from financing activities:
Proceeds from issuance of convertible senior notes
0	4,017	17,767	0	75,658	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock, net of issuance costs
208,241	5,663	1,128	1,388	907	14,304	12,949	1,973	0	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	59,209	3,806	9,521	0	19,556	4,099	1,225	0	0	3,685	0	0	24,309
Proceeds from stock option exercises
5,173	-	-	-	12	-	-	-	-	-	-	-	-	-	212	1,325	69	-	1,876	562	0	-	498	905	10,682	-	19,081	5	4	-	0	0	0	-	0	0	12
Taxes paid related to net share settlement of equity awards, net of proceeds from option exercises
-	-	-	-	-	-	-	-	-	-1,466	601	39	826	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes paid related to net share settlement of equity awards
2,072	-	-	-	731	-	-	-	506	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of non-controlling interest
2,169	-56	0	-13	3,030	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
213,512	9,645	15,581	1,294	78,876	14,394	14,565	2,584	-506	-124	70,888	24,099	826	870	4,369	2,477	69	159	1,727	82,465	0	1,166	498	905	69,891	4,521	28,602	5	19,561	4,099	1,225	0	0	3,688	0	0	24,322
Increase (Decrease) in cash and cash equivalents
136,250	6,342	-3,882	-1,043	-2,914	4,295	4,312	-22,423	13,722	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of exchange rate changes on cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-1	0	1	-0	-1	1	0	-0	0	0	-4	0	-0
Increase (decrease) in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-582	957	3,766	-4,114	-5,199	-13,173	-16,008	-27,836	15,171	44,151	-14,398	-30,125	-17,866	-10,235	65,051	652	22,715	-9,734	14,440	1,057	-1,363	-5,176	-6,221	-7,952	-5,291	-6,588	17,183
Supplemental disclosure:
Amounts accrued for purchases of property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	658	-249	285	141	48	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosures:
Amounts accrued for purchases of property and equipment
0	-	0	-68	68	-	159	-135	164	-	624	674	511	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest paid
2,590	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Right-of-use assets obtained in exchange for lease obligations
0	-	-	-	14,634	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-