INOVIO (NASDAQ:INO), a biotechnology company, has reported its financial results for the second quarter of 2020, it was reported on Monday.

The company reported total revenue of USD267,000 for the second quarter of 2020 compared to USD136,000 in the year-ago period.

The firm reported net loss for the quarter ended 30 June 2020 at USD128.7m or USD0.83 per basic and diluted share, against a net loss of USD29.4m or USD0.30 per basic and diluted share in the year-ago period.

Dr J Joseph Kim, INOVIO's president and chief executive officer, said, 'The second quarter further demonstrated the versatility and potential of INOVIO's DNA medicines platform to meet urgent global health needs. In addition to advancing our DNA vaccine INO-4800 to combat the ongoing COVID-19 pandemic, INOVIO presented encouraging results for one of the most devastating and difficult-to-treat cancers, GBM. We believe our DNA medicines are ideally suited to safely drive robust immune responses across infectious diseases and cancer, and we look forward to publishing our latest INO-4800 data, starting our Phase 2/3 COVID-19 clinical study in the U.S. in September, and expanding the manufacturing capacity to produce at least 100 million doses of INO-4800 in 2021 via our growing global coalition of partners and funders.'