XML 52 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Balance Sheets (USD $)
Dec. 31, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 40,543,982us-gaap_CashAndCashEquivalentsAtCarryingValue $ 33,719,796us-gaap_CashAndCashEquivalentsAtCarryingValue
Short-term investments 53,075,974us-gaap_ShortTermInvestments 18,905,608us-gaap_ShortTermInvestments
Accounts receivable 2,804,207us-gaap_AccountsReceivableNetCurrent 3,301,563us-gaap_AccountsReceivableNetCurrent
Prepaid expenses and other current assets 797,973us-gaap_PrepaidExpenseAndOtherAssetsCurrent 637,433us-gaap_PrepaidExpenseAndOtherAssetsCurrent
Prepaid expenses from affiliated entity 1,382,375ino_PrepaidExpensesAndOtherCurrentAssetsFromAffiliatedEntity 2,057,350ino_PrepaidExpensesAndOtherCurrentAssetsFromAffiliatedEntity
Deferred tax asset 342,573us-gaap_DeferredTaxAssetsNetCurrent 61,839us-gaap_DeferredTaxAssetsNetCurrent
Total current assets 98,947,084us-gaap_AssetsCurrent 58,683,589us-gaap_AssetsCurrent
Restricted cash 0us-gaap_RestrictedCashAndCashEquivalents 100,762us-gaap_RestrictedCashAndCashEquivalents
Fixed assets, net 4,583,204us-gaap_PropertyPlantAndEquipmentNet 2,886,545us-gaap_PropertyPlantAndEquipmentNet
Investment in affiliated entity 12,340,811us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures 9,664,587us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
Intangible assets, net 4,776,059us-gaap_IntangibleAssetsNetExcludingGoodwill 5,718,778us-gaap_IntangibleAssetsNetExcludingGoodwill
Goodwill 10,113,371us-gaap_Goodwill [1] 10,113,371us-gaap_Goodwill [1]
Common stock warrants 550,000us-gaap_AvailableForSaleSecuritiesEquitySecuritiesNoncurrent 717,500us-gaap_AvailableForSaleSecuritiesEquitySecuritiesNoncurrent
Other assets 474,568us-gaap_OtherAssetsNoncurrent 402,075us-gaap_OtherAssetsNoncurrent
Total assets 131,785,097us-gaap_Assets 88,287,207us-gaap_Assets
Current liabilities:    
Accounts payable and accrued expenses 6,383,170us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent 5,444,508us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent
Accounts payable and accrued expenses due to affiliated entity 28,407us-gaap_DueToRelatedPartiesCurrent 522,255us-gaap_DueToRelatedPartiesCurrent
Accrued clinical trial expenses 2,007,432us-gaap_AccruedLiabilitiesCurrent 1,446,180us-gaap_AccruedLiabilitiesCurrent
Common stock warrants 2,022,729us-gaap_WarrantsAndRightsOutstanding 19,540,583us-gaap_WarrantsAndRightsOutstanding
Deferred revenue 3,187,223us-gaap_DeferredRevenueCurrent 1,624,388us-gaap_DeferredRevenueCurrent
Deferred revenue from affiliated entity 394,791ino_DeferredRevenueFromAffiliatedEntityCurrent 388,542ino_DeferredRevenueFromAffiliatedEntityCurrent
Total current liabilities 14,023,752us-gaap_LiabilitiesCurrent 28,966,456us-gaap_LiabilitiesCurrent
Deferred revenue, net of current portion 173,779us-gaap_DeferredRevenueNoncurrent 1,997,333us-gaap_DeferredRevenueNoncurrent
Deferred revenue from affiliated entity, net of current portion 836,694ino_DeferredRevenueFromAffiliatedEntityNoncurrent 1,211,694ino_DeferredRevenueFromAffiliatedEntityNoncurrent
Deferred rent 4,709,229us-gaap_DeferredRentCreditNoncurrent 3,013,263us-gaap_DeferredRentCreditNoncurrent
Deferred tax liabilities 504,049us-gaap_DeferredTaxLiabilitiesNoncurrent 195,778us-gaap_DeferredTaxLiabilitiesNoncurrent
Total liabilities 20,247,503us-gaap_Liabilities 35,384,524us-gaap_Liabilities
Commitments and contingencies      
Inovio Pharmaceuticals, Inc. stockholders’ equity:    
Preferred stock—par value $0.001; Authorized shares: 10,000,000, issued and outstanding shares: 23 at December 31, 2014 and 26 at December 31, 2013 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Common stock—par value $0.001; Authorized shares: 600,000,000 at December 31, 2014 and December 31, 2013, issued and outstanding: 60,741,082 at December 31, 2014 and 52,576,390 at December 31, 2013 60,741us-gaap_CommonStockValue 52,577us-gaap_CommonStockValue
Additional paid-in capital 443,327,915us-gaap_AdditionalPaidInCapital 348,267,389us-gaap_AdditionalPaidInCapital
Accumulated deficit (331,910,290)us-gaap_RetainedEarningsAccumulatedDeficit (295,788,577)us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive loss (251,390)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (76,365)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Total Inovio Pharmaceuticals, Inc. stockholders’ equity 111,226,976us-gaap_StockholdersEquity 52,455,024us-gaap_StockholdersEquity
Non-controlling interest 310,618us-gaap_MinorityInterest 447,659us-gaap_MinorityInterest
Total stockholders' equity 111,537,594us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 52,902,683us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilities and stockholders’ equity $ 131,785,097us-gaap_LiabilitiesAndStockholdersEquity $ 88,287,207us-gaap_LiabilitiesAndStockholdersEquity
[1] Goodwill was recorded from the Inovio AS acquisition in January 2005 and from the acquisition of VGX in June 2009 for $3.9 million and $6.2 million, respectively.