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news.Inovio Pharmaceuticals has reported total revenue of $3.11m for the first quarter ended 31 March 2011, compared to $1.37m for the same period in 2010.
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The increase in revenue was primarily due to an increase in revenue from the company’s contract with the National Institute of Allergy and Infectious Diseases (NIAID) of $2.7m for the quarter compared with $835,000 for the same period in 2010.
The company has reported a net loss of $2.42m, or $0.02 loss per diluted share, compared to net loss of $2.3m or $0.02 loss per diluted share, for the same period last year.
Inovio Pharma’s loss from operations was $4.64m, as compared to $4.41m for the same period prior year.