Demonstrações financeiras detalhadas de Inovio Pharmaceuticals, Inc. (INO): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Inovio Pharmaceuticals, Inc. registou receitas de $65343 no último exercício, com um CAGR de 5 anos de -61.2%.
Margens dos últimos 12 meses: margem bruta 100.0%, margem operacional -1328.7%, margem líquida -1300.0%.
Ao preço atual de $1.15, INO apresenta lucros negativos (P/L não significativo) e um ROE de -352.53%. A capitalização de mercado é de $79M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $35.4M | $42.2M | $30.5M | $4.1M | $7.4M | $1.8M | $10.3M | $832010 | $217756 | $65343 |
| Custo da Receita | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Lucro Bruto | $35.4M | $42.2M | $30.5M | $4.1M | $7.4M | $1.8M | $10.3M | $832010 | $217756 | $65343 |
| P&D | $88.7M | $98.6M | $95.3M | $88.0M | $94.2M | $249.2M | $187.7M | $86.7M | $75.6M | $54.2M |
| Despesas Gerais e Administrativas | $23.9M | $28.3M | $29.3M | $27.2M | $37.2M | $53.8M | $90.2M | $47.6M | $37.0M | $32.7M |
| Despesas Operacionais | $112.6M | $126.9M | $124.6M | $115.2M | $131.5M | $303.0M | $277.8M | $144.8M | $112.6M | $86.9M |
| Lucro Operacional | -$76.2M | -$83.6M | -$94.1M | -$111.1M | -$124.1M | -$301.2M | -$267.6M | -$143.9M | -$112.4M | -$86.8M |
| EBITDA | -$74.1M | -$84.7M | -$89.8M | -$107.3M | -$149.6M | -$296.6M | -$270.9M | -$130.4M | -$103.9M | -$82.0M |
| Despesas com Juros | $139249 | $25933 | 0 | $7.9M | $8.7M | $1.9M | $1.3M | $1.2M | $177833 | 0 |
| Lucro Antes de Impostos | -$73.7M | -$88.2M | -$94.8M | -$120.8M | -$167.5M | -$303.7M | -$279.8M | -$135.1M | -$107.3M | -$84.9M |
| Imposto | 0 | 0 | $2.2M | -$257335 | 0 | 0 | 0 | 0 | 0 | 0 |
| Lucro Líquido | -$73.7M | -$88.2M | -$97.0M | -$119.4M | -$166.4M | -$303.7M | -$279.8M | -$135.1M | -$107.3M | -$84.9M |
| LPA | $-1.01 | $-1.08 | $-1.05 | $-0.97 | $-1.07 | $-1.42 | $-14.07 | $-6.09 | $-3.95 | $-1.81 |
| LPA Diluído | $-1.01 | $-1.08 | $-1.05 | $-0.97 | $-1.07 | $-1.42 | $-14.07 | $-6.09 | $-3.95 | $-1.81 |
| Ações em Circulação (Diluídas) | $6.1M | $6.8M | $7.7M | $8.2M | $12.9M | $17.4M | $19.9M | $22.2M | $27.2M | $46.9M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | 0 | 0 | 0 | 0 |
| Lucro Bruto | 0 | -$754054 | -$745464 | 0 |
| Lucro Operacional | -$21.2M | -$17.5M | -$21.9M | -$18.6M |
| EBITDA | -$44.7M | $4.5M | -$18.9M | -$5.7M |
| Lucro Líquido | -$45.5M | $3.8M | -$19.7M | -$6.0M |
| LPA | $-0.87 | $0.05 | $-0.28 | $-0.07 |
| LPA Diluído | $-0.87 | $0.05 | $-0.28 | $-0.07 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $19.1M | $23.8M | $23.7M | $22.2M | $250.7M | $71.1M | $46.3M | $14.3M | $65.8M | $44.3M |
| Investimentos de Curto Prazo | $85.6M | $103.6M | $57.5M | $67.3M | $160.9M | $330.2M | $206.7M | $131.0M | $28.3M | $14.2M |
| Contas a Receber | $16.6M | $6.5M | $4.1M | $2.0M | $19.1M | $8.0M | $11.7M | $2.4M | $1.2M | $450 |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $124.6M | $138.4M | $87.8M | $94.2M | $471.2M | $448.4M | $315.2M | $153.1M | $97.8M | $61.1M |
| Imobilizado | $9.0M | $18.3M | $15.9M | $26.6M | $24.1M | $29.0M | $18.0M | $14.5M | $11.8M | $9.1M |
| Ágio | $10.5M | $10.5M | $10.5M | $10.5M | $10.5M | $10.5M | $10.5M | 0 | 0 | 0 |
| Ativos Intangíveis | $7.6M | $6.0M | $4.8M | $3.7M | $3.1M | $2.6M | $2.1M | 0 | 0 | 0 |
| Ativos Totais | $173.7M | $187.2M | $131.1M | $144.0M | $539.8M | $495.9M | $348.5M | $171.0M | $113.2M | $74.3M |
| Contas a Pagar | $7.0M | $8.5M | $11.0M | $7.6M | $1.5M | $28.0M | $21.1M | $4.6M | $6.4M | $2.6M |
| Dívida de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $16.8M | 0 | 0 |
| Passivos Circulantes | $43.8M | $35.4M | $35.3M | $32.0M | $41.7M | $65.7M | $96.9M | $42.6M | $35.3M | $43.7M |
| Dívida de Longo Prazo | 0 | 0 | 0 | $77.0M | $18.7M | $15.0M | $16.6M | 0 | 0 | 0 |
| Passivos Totais | $50.3M | $44.8M | $44.1M | $138.5M | $78.6M | $96.3M | $126.2M | $53.6M | $44.7M | $50.2M |
| Reservas | -$434.8M | -$523.4M | -$620.4M | -$739.8M | -$906.2M | -$1.21B | -$1.49B | -$1.62B | -$1.73B | -$1.82B |
| Patrimônio Líquido | $123.3M | $142.4M | $86.9M | $3.4M | $461.1M | $399.7M | $222.4M | $117.3M | $68.5M | $24.1M |
| Dívida Total | 0 | 0 | 0 | $99.5M | $39.0M | $33.0M | $32.1M | $30.2M | $11.9M | $9.4M |
| Dívida Líquida | -$104.8M | -$127.4M | -$81.2M | $10.0M | -$372.6M | -$368.3M | -$220.9M | -$115.1M | -$82.2M | -$49.1M |
| Capital de Giro | $80.8M | $103.0M | $52.5M | $62.2M | $429.5M | $382.7M | $218.4M | $110.5M | $62.5M | $17.5M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $36.6M | $44.3M | $26.3M | $31.5M |
| Ativos Totais | $69.4M | $74.3M | $49.8M | $49.4M |
| Passivos Totais | $77.1M | $50.2M | $43.7M | $45.0M |
| Patrimônio Líquido | -$7.7M | $24.1M | $6.1M | $4.4M |
| Dívida Total | $10.0M | $9.4M | $8.7M | $8.0M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | -$73.7M | -$88.2M | -$97.0M | -$120.6M | -$167.5M | -$303.7M | -$279.8M | -$135.1M | -$107.3M | -$84.9M |
| Depreciação e Amortização | $3.1M | $3.5M | $5.0M | $5.5M | $4.6M | $4.7M | $5.5M | $3.5M | $3.1M | $3.0M |
| Compensação em Ações | $10.5M | $13.1M | $10.7M | $10.9M | $15.6M | $26.3M | $22.6M | $11.1M | $6.6M | $3.8M |
| Variação Capital de Giro | -$546161 | $2.9M | $4.7M | -$3.5M | -$71.1M | $50.4M | $19.8M | -$10.3M | -$2.7M | -$9.2M |
| Fluxo de Caixa Operacional | -$62.6M | -$63.2M | -$73.6M | -$97.9M | -$178.0M | -$215.7M | -$216.2M | -$124.4M | -$104.1M | -$88.6M |
| CapEx | -$3.9M | -$10.3M | -$2.1M | -$987926 | -$1.5M | -$1.2M | -$969153 | -$320898 | -$487832 | -$285698 |
| Aquisições | -$1.2M | 0 | $2.78T | $987.93B | $38.7M | 0 | -$2.0M | $6.2M | 0 | 0 |
| Recompra de Ações | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | -$66.5M | -$73.5M | -$75.6M | -$98.8M | -$179.5M | -$216.9M | -$217.2M | -$124.7M | -$104.6M | -$88.9M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +19.4% | -27.8% | -86.5% | +80.2% | -76.1% | +478.2% | -91.9% | -73.8% | -70.0% |
| Crescimento Lucro Líquido (anual) | | -19.6% | -9.9% | -23.1% | -39.4% | -82.5% | +7.9% | +51.7% | +20.6% | +20.8% |
| Crescimento LPA (anual) | | -6.9% | +2.8% | +7.6% | -10.3% | -32.7% | -890.8% | +56.7% | +35.1% | +54.2% |
| Variação de Ações (anual) | | +11.9% | +13.0% | +6.7% | +57.1% | +34.6% | +14.3% | +11.5% | +22.5% | +72.6% |
| Crescimento FCF (anual) | | -10.5% | -2.9% | -30.7% | -81.6% | -20.9% | -0.1% | +42.6% | +16.1% | +15.0% |
| Margem Bruta | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Margem Operacional | -215.5% | -198.1% | -308.7% | -2702.1% | -1674.2% | -16972.3% | -2607.4% | -17300.3% | -51616.9% | -132871.3% |
| Margem EBITDA | -209.7% | -200.7% | -294.6% | -2610.6% | -2018.0% | -16709.7% | -2639.8% | -15671.8% | -47735.2% | -125425.9% |
| Margem Líquida | -208.5% | -208.9% | -318.1% | -2902.8% | -2245.4% | -17109.9% | -2726.7% | -16239.9% | -49254.3% | -130000.0% |
| Margem FCF | -188.0% | -174.1% | -248.1% | -2403.7% | -2422.0% | -12223.6% | -2116.3% | -14986.2% | -48019.1% | -136074.5% |
| Taxa Efetiva de Imposto | -0.0% | -0.0% | -2.3% | 0.2% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $-10.90 | $-10.77 | $-9.81 | $-12.01 | $-13.89 | $-12.47 | $-10.92 | $-5.62 | $-3.85 | $-1.90 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $6.1M | $6.8M | $7.7M | $8.2M | $12.9M | $17.4M | $19.9M | $22.2M | $27.2M | $46.9M |
O que olhar em Biotech
A maioria das biotechs pequenas perde dinheiro. Analisar com P/E não faz sentido — olha caixa e pipeline.
- Cash Runway — Meses de caixa ao ritmo atual de gasto. <18 meses = risco de diluição urgente
- Cash burn anual — Ritmo a que queimam caixa operacional. Comparar com posição de caixa para projetar runway
- Dívida Total — Biotech sem receita + dívida = receita para falência
- I+D / Capitalização — Quanto investem em pipeline vs valor da empresa — indicador de intensidade de pesquisa
- Market cap / Caixa — Se cota perto do caixa, o mercado dá ~0 valor ao pipeline — oportunidade ou armadilha
Rentabilidade
| Retorno sobre patrimônio | -352.53% |
| Retorno sobre capital investido | -259.45% |
| Retorno sobre ativos | -114.31% |
| Margem bruta | 100.00% |
| Margem operacional | -132871.32% |
| Margem líquida | -130000.00% |
Saúde financeira
| Dívida / Patrimônio | 0.39 |
| Liquidez corrente | 1.40 |
| Piotroski F-Score | 1 |
| Altman Z-Score | -36.80 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | -82.46 | -45.89 | -45.71 | -40.82 | -99.25 | -42.17 | -1.33 | -1.00 | -0.46 | -0.96 |
| P/VP | 4.12 | 2.37 | 4.26 | 94.84 | 2.98 | 2.61 | 1.67 | 1.16 | 0.73 | 3.39 |
| P/V | 14.37 | 8.00 | 12.14 | 79.23 | 185.24 | 587.16 | 36.27 | 163.10 | 228.26 | 1248.52 |
| Margem Bruta | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Margem Operacional | -215.5% | -198.1% | -308.7% | -2702.1% | -1674.2% | -16972.3% | -2607.4% | -17300.3% | -51616.9% | -132871.3% |
| Margem Líquida | -208.5% | -208.9% | -318.1% | -2902.8% | -2245.4% | -17109.9% | -2726.7% | -16239.9% | -49254.3% | -130000.0% |