XML 41 R24.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates as one reportable segment in the United States, which includes all activities related to the development and commercialization of its DNA medicines to help treat and protect people from HPV-associated diseases, cancer and infectious diseases.
The Company's Chief Executive Officer (CEO) is its Chief Operating Decision Maker (CODM), responsible for allocating resources and assessing Company performance using aggregated financial information. Utilizing aggregated financial information enables the CODM to determine the most appropriate resource allocation across the organization, research and development projects or other initiatives consistent with the Company's corporate objectives. The CODM primarily uses total net loss as reported on the statements of operations and comprehensive loss to measure segment loss, supplemented by certain additional significant expense details reflected in the table below. The measure of segment assets is reported on the consolidated balance sheet as total assets.
Detailed information regarding the Company's single operating segment's revenues, expenses and operating loss are as follows:
Year Ended December 31,
20242023
Revenue from collaborative arrangements and other contracts, including affiliated entity
$217,756 $832,010 
Less:
Research and development:
     INO-310729,930,344 17,840,728 
     INO-5401 and other Immuno-oncology6,293,401 11,758,935 
     Other programs (a)(77,955)18,701,675 
     Engineering and device-related19,393,929 8,863,170 
     Stock-based compensation2,821,226 4,606,341 
     Other unallocated expenses (b)17,259,395 24,905,714 
General and administrative36,996,338 47,582,104 
Impairment of goodwill— 10,513,371 
Total operating expenses112,616,678 144,772,038 
Interest income4,766,993 8,133,290 
Interest expense(177,833)(1,222,789)
Change in fair value of common stock warrant liability2,808,608 — 
(Loss) gain on investment in affiliated entity(1,166,443)773,145 
Net unrealized gain on available-for-sale equity securities2,077,182 5,850,626 
Other expense, net(3,163,711)(4,711,596)
Net loss$(107,254,126)$(135,117,352)

(a) Net of contributions received from grant agreements and recorded as contra-research and development expense.
(b) Includes impairment of intangible assets of $2.0 million recorded in 2023.