Company / R&D Expense
INOVIO PHARMACEUTICALS, INC. R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$75.6M
FY2025
5-year range
$75.6M / $249.2M
FY2021-FY2025
Trend
-12.8%
vs FY2024
Sector context
Sector data unavailable
Latest sector comparison
What the data says
R&D Expense has fluctuated over the past 10 years, ranging from $34M in FY2016 to $249M in FY2023.
Based on SEC 10-K filings.
$76M in FY2025 with a 5-year CAGR of -4.5%.
Declined from $249M to $76M over the past 2 years.
R&D Expense over time
Growth rates
- 3-Year CAGR
- -7.1%
- 5-Year CAGR
- -4.5%
- 10-Year CAGR
- -
Key checks
Key Insights
- 5-year CAGR of -4.5%, indicating a declining trend.
- In FY2025, r&d expense decreased 12.8% year-over-year.
- Peak r&d expense was recorded in FY2023.
- Lowest r&d expense in the period was in FY2016.
Company context
Key Data Points
- Low Piotroski F-Score: 1/9 (multiple financial health concerns)
- Altman Z-Score 0.43 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $75.6M | -12.8% |
| FY2024 | $86.7M | -65.2% |
| FY2023 | $249.2M | +164.5% |
| FY2022 | $94.2M | +7.1% |
| FY2021 | $88.0M | -7.6% |
| FY2020 | $95.3M | -3.4% |
| FY2019 | $98.6M | +11.1% |
| FY2018 | $88.7M | +53.5% |
| FY2017 | $57.8M | +69.5% |
| FY2016 | $34.1M | +59.6% |
As of FY2025 · SEC 10-K · Updated Jun 24, 2026