XML 52 R36.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of components of pretax loss from operations | The components of pretax loss from operations before equity method investment are as follows:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
U.S. Domestic | $ | (302,614,003) |  |  | $ | (162,664,355) |  |  | $ | (120,809,112) |
Foreign | (610,320) |  |  | (225,949) |  |  | — |
Pretax loss from operations before equity method investment | $ | (303,224,323) |  |  | $ | (162,890,304) |  |  | $ | (120,809,112) |
Schedule of effective income tax rate reconciliation | The reconciliation of income taxes attributable to continuing operations computed at the statutory tax rates to income tax expense (benefit), using a 21% statutory tax rate for December 31, 2021, 2020 and 2019, is as follows:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Income (benefit) taxes at statutory rates | $ | (63,677,000) |  |  | $ | (34,207,000) |  |  | $ | (25,370,000) |
State income tax, net of federal benefit | (3,447,000) |  |  | — |  |  | — |
Change in valuation allowance | 77,424,000 |  |  | 21,428,000 |  |  | 25,457,000 |
Nondeductible loss on extinguishment of debt | — |  |  | 14,450,000 |  |  | — |
Research and development tax credits | (16,523,000) |  |  | (2,650,000) |  |  | (3,838,000) |
Stock-based compensation | 483,000 |  |  | (1,953,000) |  |  | 1,114,000 |
Uncertain tax positions | 6,509,000 |  |  | 1,068,000 |  |  | 1,537,000 |
Deconsolidation of subsidiary | — |  |  | 853,000 |  |  | — |
Expired NOLs and credits | 616,000 |  |  | 468,000 |  |  | 616,000 |
Limited NOLs and credits | (542,000) |  |  | (368,000) |  |  | (616,000) |
Change in tax rates | — |  |  | — |  |  | 12,000 |
Foreign tax rate differential | (24,000) |  |  | (9,000) |  |  | — |
Other | (819,000) |  |  | 920,000 |  |  | 831,000 |
| $ | — |  |  | $ | — |  |  | $ | (257,000) |
Schedule of deferred tax assets and liabilities | Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2021 and 2020 are shown below:
| As of December 31,
| 2021 |  | 2020
Deferred tax assets: |  |  |
Capitalized research expense | $ | 4,200,000 |  |  | $ | 5,250,000 |
NOL carryforwards | 197,144,000 |  |  | 127,835,000 |
Research and development and other tax credits | 23,005,000 |  |  | 13,242,000 |
Deferred revenue | 987,000 |  |  | 1,628,000 |
Stock-based compensation | 3,599,000 |  |  | 3,256,000 |
Acquired intangibles | 637,000 |  |  | 757,000 |
Interest expense | 83,000 |  |  | 564,000 |
Investment in affiliated entity | 750,000 |  |  | 542,000 |
Lease liability | 3,793,000 |  |  | 4,283,000 |
Other | 5,973,000 |  |  | 6,127,000 |
| 240,171,000 |  |  | 163,484,000 |
Valuation allowance | (237,205,000) |  |  | (159,705,000) |
Total deferred tax assets | 2,966,000 |  |  | 3,779,000 |
Deferred tax liabilities: |  |  |
Acquired intangibles | (194,000) |  |  | (179,000) |
Right of use asset | (2,430,000) |  |  | (2,676,000) |
Note discount | (321,000) |  |  | (469,000) |
Fixed assets | (53,000) |  |  | (487,000) |
Net deferred tax liabilities | $ | (32,000) |  |  | $ | (32,000) |
Schedule of operating loss and tax credit carryforward expirations | Based upon statute, federal and state losses and credits are expected to expire as follows (in millions):
Expiration Date: | Federal NOLs |  | State NOLs |  | Foreign NOLs |  | Federal R&D |  | State R&D
2022 | $ | 6.1 |  |  | $ | 0.4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
2023 | 5.3 |  |  | 1.2 |  |  | — |  |  | — |  |  | — |
2024 | 16.5 |  |  | 9.1 |  |  | — |  |  | — |  |  | — |
2025 and thereafter | 267.7 |  |  | 224.9 |  |  | 0.8 |  |  | 35.1 |  |  | — |
Indefinite | 568.9 |  |  | — |  |  | — |  |  | — |  |  | 4.4 |
| $ | 864.5 |  |  | $ | 235.6 |  |  | $ | 0.8 |  |  | $ | 35.1 |  |  | $ | 4.4 |
Schedule of unrecognized tax benefits rollforward | The following table summarizes the activity related to the Company's unrecognized tax benefits:
| Year ended December 31,
| 2021 |  | 2020 |  | 2019
Balance at beginning of the year | $ | 12,210,000 |  |  | $ | 11,204,000 |  |  | $ | 9,632,000 |
Increases related to current year tax positions | 6,602,000 |  |  | 1,043,000 |  |  | 1,575,000 |
Increases (decreases) related to prior year tax positions | 7,000 |  |  | 27,000 |  |  | (3,000) |
Other | — |  |  | (64,000) |  |  | — |
Balance at end of the year | $ | 18,819,000 |  |  | $ | 12,210,000 |  |  | $ | 11,204,000 |

X
- Definition Schedule of Operating Loss and Tax Credit Carryforward Expirations [Table Text Block] + References No definition available. + Details
Name: | ino_ScheduleofOperatingLossandTaxCreditCarryforwardExpirationsTableTextBlock
Namespace Prefix: | ino_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=124434304&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration