Inovio Pharmaceuticals (INO) 14 Mar 182017 Q4 Earnings call transcript

Greetings. And welcome to the Inovio Fourth Quarter 2017 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. to conference like host, to now Matone. Benjamin would turn over the your I sir. ahead go Please

Thank and live Good replay call ir.inovio.com you. afternoon will as is today. joining and press also Today’s indicated us in being release. available webcast be at our website, thank our for you for

of our with making to as During these all plans DNA SynCon on to actual statements be statements our and of CELLECTRA to certain devices forward capital combination delivery proprietary this uncertainties and as risks call, resources expectations based which assumptions, differ management involve we our could are today. relating as well the and cause statements. develop immunotherapies results beliefs looking will business from our of in including materially These

may in materially read no to to result We with as today’s press CEO, assume Financial expectations. Investors Dr. are the results Joseph forward-looking or events risks With certainties the actual as our revise obligation included well to our differ risk described should and from factors filings otherwise. release and whether in or the information, update now carefully SEC. future Our over and Kim. of the today statements, Kim, would like I Peter call Kies, me President Officer. Inovio’s CEO; Chief President Joseph new turn Dr. a as

immunotherapies relentless I’m both executional excited on XXXX to discuss towards development. to updates cancer innovation forth very everyone. continues clinical infectious our and afternoon, a good treat DNA as you diseases. excellence be with for Inovio and and well year-end recent and well-positioned advancing quarter Ben, results you, as bring to Thank our to few fourth provide

high-grade continuing on with in dysplasia, in call. also later the cervical make X treating which candidate product enrolling are trial patients VGX-XXXX plan I highlight progress for to to We our lead Phase strong

recruit expect platform. with Since our These additional precancer sites our utilize us non-dilutive XX to line. overall getting providing continues straight U.S. for to that we Phase efforts. collaborations Ultimately to the and opened In June effectively diseases have nearly sites support efficacy to continents. a our trial already clinical We recent to funding therapies, and XXXX, commenced VGX-XXXX Inovio path versatile enrollment on initiated we sites and been clinical funding we to excited of back program our have off addition and report pivotal XXXX has across patients. five XX grant external X infectious while hold, and our funding our for In our of cancer-focused I’m nearly support technology evaluate XXXX, multiple XXX continues open these out-licensing today track to to trial on is track. And internationally opportunities. coming plan in

features to adding continually We’re HPV innovative also franchise. our

we was in as this that predicted in You XX franchise. early care during patient we and overall XX% improve the believe of guiding may trial we efficacy completion and VGX-XXXX post-hoc a Xb that published of Phase biomarkers emphasize the to formal of for the these assessment want doctors I to treatment aid prior XX. week that at can weeks regimen using treatment to with value generated signatures after analysis identified also of that VGX-XXXX the accuracy, which weeks treatment recall biomarker of our in treatment two as data November, VGX-XXXX success from in continue

for [ph] this As virus vulvar the within by next to our of proof Phase to patients. extend caused initiate mentioned X call, to up occur months. ongoing This anal concept dysplasia dysplasia, and X recruiting we we a our plan adds expect the last that’s HPV program study into earnings Phase two during to VGX-XXXX quarter’s in our trial

And XXXX. open dysplasia cervical Phase you from expect available XXXX. VGX-XXXX, both studies in can X data two in X the data label anticipate for to we and then Phase for the So, be

entered it upfront month. as ApolloBio payment Corporation, million agreement and before the of license Upon of approvals. become $XX ApolloBio amended which and with the pertains we end well collaboration we into effective, approval an other to this stockholders received regulatory receipt as VGX-XXXX, by as Lastly, of expect to

patients As and capabilities, partnership a offer greater the refresher this which dysplasia resources globe. market to develop right Taiwan, ApolloBio with will and for Kong, Hong VGX-XXXX everyone, the broader across for commercialize believe China, grants in opportunities exclusive and including we treating cervical Macau

scientific INO-XXXX demonstrated we to is cause generated Phase optimism Phase Key we across key widespread an a interim Turning cohorts conferences a all INO-XXXX we were liver data at about from a HBV cell see this potential that therapy. of T immunotherapy INO-XXXX upcoming this is specific X of to additional publication. that encouraging. And as in for expect anti-HBV and our of program, this it an major component These immunotherapy cancer. in effective to and trial killer very the which as announced report combination Xb infection release morning, my results results press a

the selecting a for could who best partner B working focus program, advance INO-XXXX and to hepatitis therapy. current it a with As next relates in our steps is combination on

through partners, product programs, we immuno-oncology advance now Shifting We further and collaboration continuing have our discussions this neck focused patient head partnership. are potential with expect with to have start had a trial. or and our cancer and I’ll to several to

head among we forward the with As are rising cancer HPV MedImmune see remains for men partner moving program this our HPV-related fastest United and caused the States, treating cancer in to pleased neck cancers.

patients. efficacy portion trial. XX which approach of in known cancer payment INO-XXXX, durvalumab, and advancing a the formerly trial with combination metastatic stage the the in estimated clinical total Phase a received MEDIXXXX, review in past and head as completing PD-LX Phase patients is neck $X checkpoint inhibitor HPV-associated to X the the testing combination Phase of X with was MedImmune the within safety X enrollment recurrent this of squamous milestone Just December, MedImmune, million study from by triggered the we

regulatory for anal and in other MEDI’s immunotherapy our of or and associated precancers o MEDI both in for Inovio partnership fully the conjunction with diseases men positions ahead development leading vulvar milestones with cancer expect to landscape MEDIXXXX, women. infection HPV cervical, provider In from as HPV-caused HPV-related from progress a our XXXX. precancer We across VGX-XXXX

Inovio Now, of most Indeed, cancers. difficult let’s top immune-responsive or while telomerase the considered treat a two of cancers and take transcriptase top bladder in look at immuno-oncology cancer of antigens human a of Bladder is three we our program. cancer was the including INO-XXXX our one to glioblastoma. the encodes WTX pivotal year reverse three hTERT, for is PSMA. XXXX one for more combination as -- cancer antigens initiated cancer trials and glioblastoma INO-XXXX

immune-responsive of ends INO-XXXX’s With these on goal, two to see has cancer targeted us allowing potential. spectrum Inovio shots broad both the

Just PD-LX last IL-XX. Roche/Genentech quarter, activator INO-XXXX, checkpoint the and advanced initiated INO-XXXX trial in cancer immune efficacy we in XX This urothelial response advanced encoding evaluate evaluating metastatic in X/X specifically bladder patients, approximately and combination safety, a carcinoma. an to is with Phase trial for inhibitor I-O bladder unresectable immune designed cancer,

the efficacy involving and anticipate Institute highlight within GBM XXXX. to in I-O and many for potentially our goal also be inhibitor, INO-XXXX We or XXXX. evaluate immune And underappreciated. in or initiated is we to newly a label two we to response with our the immuno-oncology patients data signals the checkpoint and INO-XXXX. this safety, the think who X/X previously our having third trial brain January to combination PD-X in This safety failed well of as and safety track diagnosed XX for and Immunotherapy, early Regeneron’s or next this approximately on patients REGNXXXX shot within as as with also our months. program, clinical Phase our data is an cemiplimab the aggressive open with collaboration I remains meaningful having or efficacy to As glioblastoma And on alone. anti-PD-X which received I want be Cancer interim to something evaluate multiforme investors response will program PD-LXcheckpoint an interim for trial trial of Parker in majority to as in begin inhibitor patients demonstrate response checkpoint Enrollment clinical response inhibitor enrolled announcement anticipate patients GBM, refractory a have reminder, immune designed cancer. immune is

Our strategic goals. our ability progress DNA innovative next-generation to a as for our a develop used to be component treatment and to for immunotherapies core continue cancer remains

execution Our better goal checkpoint the and cancer that therapy with Through would invasive Parker is of our with muscle initial initial able inhibitors and as trial research university for study expertise cancer Parker the which set provide to well will combination pioneers ultimately consideration trials. to model, where responses Institute’s lead as bladder under with to address unique with responsibility immunotherapies. Parker to be cancer of while clinical the in our we immunotherapy, for will INO-XXXX modulators partners to have work address capabilities the funding aligns immune Institute’s leveraging all and combination patient oncology ASPIRE in to with

executing months, So, can looking us with our from next with XXXX and while fundamental disease will capabilities programs, catalysts expect XX I-O infectious our XXXX our at us over discoveries to to key X provide resources the significant and more from platform. provide we

more NIH. with and These the from DNA Gates NIH grants novel this the versatile two announced than from are total to both will Institute, malaria, vaccine grants past Inovio’s will tuberculosis new novel its develop, Foundation from Melinda Just in the the platform. million efforts and continue foundation January, the and and which programs employing collaboration Wistar by against funded support provide the to Gates and we advance Bill SynCon to -- ASPIRE vaccine, $X.X fully

discovery Specifically, speaks to resources antibody the for these which and cells capabilities and synthetic robust the into T targeted Inovio initiatives broader optimized provide and towards antigenic delivering cells, grants responses. generate genes opportunities both of

year CFO, Now, will Peter who to Peter? like fourth introduce I’d end of discuss financials. our quarter Kies, and our

General attributed The $XX.X ended and quarter million million as .X last million in $XX $XX.X year-over-year was administrative $XXX.X for and million in our per the stock-based million for employee to December increase $XX.X XXXX in $X.X to XX, revenue and and XXXX. expenses increase XX, compared and share -- net million primarily compared of $XX.X share and December December compensation. million R&D to million year and quarter increase were in common due year the XXXX. for and in and ended XXXX. million XXXX, and loss and and was for trial Total and $XX.X headcount in expenses expenses year the XXXX. or for G&A R&D for compared $XX.X .X to million to was $X.XX compared quarter Joseph. same employee actually XX, $XX.X and the and as or periods per $X.XX for loss same periods XXXX. Thanks, same to share million ended $X $XX.X $XXX compared year to expenses quarter periods activities. the December $XX.X an for per a $X.XX year was $X the was periods the the .X million million in million shareholders clinical per $X.X ended, related period the to an increase or and Research Operating $X.XX support stockholders million, attributed for million common the XX, $XX XXXX year million $XX.X expenses for same primarily $XX.X same headcount million the Net were for to negative in for quarter or development share, million the $XX.X were ended non-cash million and XXXX to The in to related and

outstanding fully and million very the $XXX.X cash million total million XX.X had position our to and Finally, diluted Back equivalents year-end basis. financial $XXX.X year. compared as cash with short-term a shares December million quarter remains shares XX.X end, of last outstanding to investments Joseph. of and At you, the Company solid on

Thanks, Peter.

commercially MEDIXXXX a infectious vaccine novel emerging full Inovio These caused provider leader we become HPV, get diseases to diseases and goals by like Before get with as three and funding will cancers, one, checkpoint combating solution with XXXX for your precancerous the on the rapidly Regeneron immunotherapy remember for in including leverage to to deliver Number for please top questions, attractive multiple all go-to that cancers inhibitors is a and leader Genentech. develop going data become with and utilizing where and safety show three, well INO- with utilizing CIN, as two, by to platform’s and we’re MEDI immunogenicity both and external immunotherapy how generating HTV, we’re Number new diseases, additionally, going three franchises. along a MEDI vaccine VaIN to combination T to Number MEDIXXXX. cell PD-X [ph] in caused VIN VGX-XXXX in goals development there. with PD-LX for in becoming.

questions. Operator? Now for your

[Operator Duncan ahead. Charles Instructions] Please go Our with first question Piper.

the taking a couple overview. had Joe, and for the Thanks I thanks questions. for questions, of

one, cancer competitor trial. recently share your to I in compare and to that not if competitor on cervical you a your had and just mind risk. could mind dismiss at first So, think and wondering or contrast quickly, share that you placed efforts wanted cohort And whether just is are technology [ph] I’m

of designed, in strong elegantly First to safety safety and engineer, it’s multiple But DNA think the our dosed at as and indications. surprising candidates electrical don’t patients sequences energy. can’t our we I And directly profile products all. risk with all, very our have delivered safety, pure platform favorable our are at ASPIRE that have efforts times X,XXX speak hold. product multiple competitor’s are a demonstrated I clinical profile transient over not across over Obviously, X,XXX trials

chemicals. don’t don’t viruses use adjuvant, use use deliver our or to we So, any any any don’t We products. bacteria we

So, I candidates superior its and are ASPIRE in product design. think platform

out. And so has data far, clinical the borne

necessary? with recent news recent of a not the or do you it, had any you like perhaps discussions around as Have feel this agency result it’s

we discussions No, haven’t about any that. had concerns or

I regarding question ask VGX-XXXX dysplasia. a And if cervical could just

going patients the you doesn’t you’ve that you out initiation site that a site. well, was mean about start site, started up. think you mentioned necessarily have that of You that enrolled XXX that at I XX When

characteristics could little more a bit you enrollment in mentioned enroll patient you the numbers either that was provide but you or color of on on are track, that think, trial. seeing kind I

currently Well, on tell you I can that is planned. enrollment as track we

can trial, before, play plan a site But, But we in discussed numbers first don’t give that. report the the what once we terms correct. enroll are play the openings, and we will you Center. by you context tell complete I to we ESPN like our of As of Sports

But for Just have that because -- patient. opened patients. already is to you’ve to we got it typically, then the the recruit utilized doesn’t mean recruiting, site open and the site first enroll dosing

and are are we pretty progressing happy we now. how So, very optimistic with

be seem either far? from characterize in far seems or interest the would -- trial -- And interest be to thus the you patients to investigators how thus

throughout day world. that It’s international was March very high. Xth celebrated first or memorized was the HPV the

physicians have I patients, in effects interest it to therapy surgery, complications. world known in and one, diseases finally of been that recognition and recognized know, you think including causes a As and the a as the well based that I has transmitted and men. which more cancer treatment time, there this cancerous more has and the HPV is long involve being a recognize general infection what starting and kind huge more, having side head but of doesn’t dysplasia disease. And number in cervical sexually immune you there’s of neck it’s lots And for as and

the Inovio’s in I on sentiment overall So, favor favor. VGX-XXXX’s our is think and excitement

prognostic that type in thing, Phase and could taken previous companion appreciate or I this the diagnostic mentioned study. that or would you And them be signature biomarker background to prove is X, still And a perhaps like may from ongoing guess be biomarker just question, information validation it information collecting intriguing all, and the I that it pretty that a was the you or a then, call set thing a study, is I are I’m research? guess pursue last wondering you you’ve

of head with nail -- the think earlier I you part your question. on the head hit the

our that analysis actually studies. we our And endpoint. evaluation secondary XXX-patient mentioned into is the that as prospectively from X Phase from our Phase data found So, a we published having post-hoc built of X actually that data

our And overall those and can disease I treatment responding or are week help way, can So, diagnostics and economic as be fashion will will how as in in all health a test be hypothesis patients early commercial able the companion you with the at in itself, XX, aid gathered, information said, that getting value definitely an our will week improve be are that double-blinded as franchise. to in we VGX-XXXX, of predict we XX. able think as separate that well a managing the to served

comes Joel go question Please next Citi. of Beatty from Our ahead.

for calling to Joe. Sean in my you question. This is [ph] thank for taking like I’d

diagnosis surgical For my on play first your talk emerging intervention, what question, role briefly can opportunity you HPV differentiate what from the that the also franchise, for current setting? specifically, market will vaccine in your could message and

Yes, absolutely.

surgery HPV-caused dysplasia, But importantly, is mostly women’s surgery-related the especially with critical capability effects. component which of perhaps lots of And currently reproductive surgical So, a precancers -- cervical side cervix, procedures. damaged. cause are can have for most treated is

twice in lead of rate and in And miss the preterm see post often layer the have and the is because cervix, the the birth. twice birth, virus patients surgeons still the miscarriages So, [ph] cannot there. the of rate future they virus top the

we quarter approximately surgery presence patients, can detect So, HPV. the after of even still right the a of the

up up recurrences. recurrence so after X/X anal the are experience go having to And vulvar surgical the the XX%. dysplasia, of and CIN there look again. you into procedure XX When bounce So, women to through to rates recurrence, this to XX% procedure

in major opportunity the Market include when XX is surgical and and the are to the Europe world. that’s for newly alone U.S procedure. diagnosed women of you So, times XXX,XXX X/X about of a rest Western XX disadvantage that just the CIN

about those gives anal smaller, disease opportunity orphan a vulvar dysplasia, indication. this utilizing market an also huge but talking for and is as potential we’re much indications us for So, and it

for solution immunotherapy positioning So, first and diseases. the class, first are VGX-XXXX these as first nonsurgical we in

question That’s is… my very second helpful. And then

think I with question. little the think tools also to the help can asking and -- will diagnostics you manage covered I revenue and or during And valuable doctors. patients bit sources think having Charles’s that then, for great diagnostics, treatment, tool But, disease additional about be a a I highly and the I were of that earlier the

That checkpoint that, on from study? And [ph] question you update makes sense. enrollment then, evaluating burden? a second And provide your Thank from is, mutational a be quick could I-O any you. your studies will study to as my follow-up

question last The first.

the we We tell approved each I studies. are information is study those What that working in our evaluating last have bladder and sites have to to the can And will plus INO-XXXX the had study, for open patients IND in of ready we you few in our year, know. about weeks. we those next XX GBM our studies be both and first dosed, sites each late

MEDIXXXX For you with which information. from X mentioned statement. in earlier the I my portion But has gone X I have control study, to publicly the what share payments MedImmune Phase milestone is full can Phase the that we of leading triggered

we So, is the competition our see little head like and would neck to ahead bit own to sibling XXXX But I-O programs. compared studies. healthy along our study

additional final you And be then, can the enrolled? on collaboration, will be my specifically the focus studies is will of question what which products Parker and provide Institute the color any

And Which Parker Institute Parker initially, and or Institute. the covers it’s the Inovio collaboration products agreement is, a INO-XXXX. between agreement broad the master really

combination Our initial together be or has we where are invasive in organizations. indication will that INO-XXXX immune studies muscle the Parker modulators access in contemplating is bladder that we other from other checkpoint with utilizing

open Genentech’s bladder with inhibitor. PD-LX which cancer for refractory from PD-X, metastatic study is patients PD-LX our currently distinct treating So,

a where such So, important our of significant presence combination expertise and checkpoint an treatment has and and in Inovio expand cancer. terms really for bladder dominance cancer goal paradigm into the is to

with comes RBC. question Gregory Please next Renza Our go from ahead.

few if I quick may. a ones, Just

and to the returning Just XXXX enrollment.

with for or ensure potentially provide are the you or on and just versus what potential could of potential doing certainly So, perhaps up? mix additional study international account it U.S. consistency any there color to remind once set durability you us please

and VGX-XXXX our U.S. our also study, we Europe we regions home can product -- aspiration of primary knew In reach elsewhere. Phase and X global including region of having a had of a that multiple markets Western as

studies. So, our we U.S. and about Phase X a even had sites in XX% breakdown global, of XX%

other X, efforts expand market half have Phase in regions, of also enrollment ex-U.S. to our more capabilities approximately our accessing opportunity will we Now, enrollment and than

these have So, we’re portions enroll going we’re I as we to certain mean, to going we’re are any those meaning But, that have not open going them to sites and -- goals. enroll preselected, as possible. let I think rapidly

we that difference. the any see ex-U.S., among quota What for of no so on. in statistical from really whether was the in or differences any any patients demographic Phase our makeup didn’t these significant regions X their there’s U.S. and the So, really and saw responses it studies make was didn’t we

far we it. and and you. X timing With running, think to latest X Thank X, that REVEAL Got that up the coordination Xs and the the REVEAL as on the Phase how respect of what’s getting about and should as timing?

jog study zero, FDA to study just X evaluation and Phase three, one in like or for week year XX. study REVEAL identical memory X, X X at a X, had, safety and REVEAL the a one follow-up. our and month asked is as our nine for dosing safety portion REVEAL month at and efficacy just

it’s full XX-week study. So,

weeks we XX four So, X, monitor then weeks X through monitoring or week it’s follow-up of is is a REVEAL a there’s year, completely. have month XX-week XX REVEAL another identical one study but follow-up. as safety and actively so

that study for XX-week is period the total So, study.

So, could same at time. to each we you as imagine, And XXX studies will land want enroll the patients.

reason started to we last that year longer to The completely the doses, first you’re the we person follow-up. to REVEAL REVEAL before is for REVEAL REVEAL are need expect is when X there’s really So, start for finish X REVEAL X. in and has X then which no X, about X REVEAL last the because start we

or is manage this of projection part by team year X early start year. will My extensively looking current REVEAL next our in you how is very that. to best of as So, can imagine, end

get certainly, the share the when then, like just expect on most goal, just curious tiny the sense importantly when a on to you. also Thank data. And Great. that to curious you it And XXXX to data… that partnership expect certainly one forward expectations partnership, of more just you’d sounds share

partner most effectively So, the partnership I anti-HPV in drug regimen finding our right can have move effective, other first, the to is goal. combination that with a as forward said primary that most program

share privately with potential and and confidentiality. So, discussions we we top had data additional several these partners, under -- have meetings new them and with will

because our value that’s best goal, us. the primary driver for that’s think, I

In terms of going evaluating and to viral we presenting the field, or year, are this we drafting manuscript are conferences several forward. also a liver

all forthcoming. will as of are So, these those they happen, we share you with And certainly things and others.

In terms of and money hearts and and add this, really our are value really mind, partner else, we’re funders programs. program on. because HPV Company, INO-XXXX true our focus, our where our to but I-O and I just with we our so for our want want leverage combination focus companies a and at to looking our spending Everything through our is to we partners to and bring where

where infectious is So, but the our our is is we combination which focus really value add drive as HPV in we see and where therapies. disease value ways to I-O

Schwartz Stifel. Alex from ahead. go comes question next with Please Our

I had two question.

with what First off, see data results HIV, milestones, next you report us can year. see are to expect a can maybe I I as, steps and in update publications conduct HIV when maybe well this your next an you HIV look of on both program, to next? looking As for at next your the additional with we trials What give study?

The getting our manuscript are data XXX the we that submit a are was data HVTN data expect where see later to collaborators year. and prepared One sets with is topline last XXXX. working can You HVTN to full things. and our in presented two

additional in to So, Phase see data conferences full in a you through would publication expect presentations X ‘XX. and a

that about against protect level multiple generated cell to the and HIV tested. the They were trials the these of conducted as T the and with potential vaccine assays. we of clades, well subtypes they they had to trials an we any in vaccines all And the have And other that funded data so us, the a immune as funded study the excited XX which remind years. best compare and different what, and NIH the are HVTN all by all terms just antibodies. group. last in why conducted grant that In that they from is has tested all platform-wise vaccine that is responses to clinical platforms the NIH other have the were wherewithal And responses cell guess with T conducted

we share Where that expect for PENNVAX-GPs with optimism the their are a to can going studies excitement we we in once PENNVAX-GP that HIV setting. go is so, preventive be clarified, But, program to there additional and share there. vaccine in going with studies then to And go, public. with these

of part funded is second the Now, program our NIH. HIV also fully by the

second We at along where the Deeks with out or flush UCSF the drugs our cool prepared, study who using HIV of new body, have studies the for the with will immunotherapy virus patients and PENNVAX-GP an combined clear PI about different Dr. being to clinical Steven clinical hiding these received checkpoint sites virus help so initially. but the in a goal say if this part can seeing as in drug in of will where we’re away combinations collaborator perhaps therapy be different a using reservoirs again bring a HIV different -- that’s of to with can with may these And the the is functional a bring drugs immune I is virus the infection. PD-X is antiviral about and cure antiviral PD-X in combination with in what’s it inhibitor used

of risk, very what to you potential high a trial. type NIH is the to benefit want use, Precisely this Now, high a from do. external funding

starts public. when the study when and progress, they the on information more we share it So, with will

second a And question. question, you. Thank modeling then, of Okay. more a

cash to year-end you by have other what ApolloBio, anticipating milestones may addition upfront your a of And the sense million where this In year? balance potential do you be? revenue $XX are

is from So, ApolloBio this license project non-dilutive Company. into cash a $XX expect. We can fee could quarter partnerships major million additional the more non-dilutive generate

do sharing see become as in that we But, these not as comfortable things this can -- point. that exact more number We’re we future. at in the solidified,

terms overall $XX XXXX cash be expect balance, million. next and ending for In of -- approximately burn ‘XX to the net we

coming So, runway right in think a current well. and what’s will plus And additional partner funding to we grant with our which of we two expect cash look I now, Apollo, about is obviously, in years from cash forward bring non-dilutive as position financial going at Inovio’s. solid

question Company. from with Yi Chen ahead. next and go comes Wainwright Our H.C. Please

see My data can likely current the after results first steps on can trial we you to what the readout? Puerto the the question ZIKA us status in expect When Rico? is, update of and are

Yes.

ZIKA trial, XXX we prior island -- that the So, year had. prior all hurricane problems people to had the enrolled last to

very little vaccine, the the and have through XX having XX frequent they disruption visits. been people problem the in placebo expect we follow-up received that have island. our are from participating they So, have received

We tabulated expect to final this be later the and we be reported. we visit have the results year to and expect

England trial Our participants. of and U.S. results had in Journal the first all Canada, were Medicine, in the rates New in the antibody published response we where XXX%

signal trial. forward We results Puerto trial could placebo Rico cool What’s a is a about the our have to from early we’re look So, design really level efficacy. of this of looking of of nature. similar controlled

in discussing various ZIKA. really vaccinated Obviously advancing non. evaluation and of working with next see study it’s difference beyond. are the we steps on ZIKA rates island we Phase are are We versus group for to in by funders the our sets to X with potential -- based the hoping between infection driven the vaccine data, a the And both

that will external a funding to is we utilize this program advance. So,

is expect question do have the And vaccine my this enter clinic the year? universal sometime flu you to second

Flu our streams we in R&D against we group. that or forceful multiple paper question. vaccine for showing the HXNX. last And a for really vaccine late key really can area us, year, published earlier protect this that’s year, So, research is of different

We results component is have then also HXNX, similar which for B a well. type as second and

program. for We or now. can season universal will serve. for active push these response the the as there will strong eventually happen, to seasonal highly are predicated my can vaccines, timelines And we potential encountered, recent very broadly right but and flu protective. be where funding, are a And vaccines, approach upon vaccines get have progress, we as you ZIKA, be -- to they our external I with going seasonal which evaluating think to clinical can similar Obviously discussions we candidates which share better we the Inovio’s flu the better have advancing we the is funders

Please Our from McCarthy Maxim Group. Jason next with question go ahead.

Hi. behalf Michael on Okunewitch This Jason is McCarthy. of

So, and I on update some you an give as was just other wondering MERS. of if trials, the such Ebola us could

to are clinical and line Yes. publications this been Both follow-ups data are MERS on. top we conferences expect meaning, in have for Ebola where some studies and both year completing, X studies there at Phase presented have The so XXXX. safety

My you. are questions Thank others answered. already

So, thanks taking question. my for

Great. Thank you much. very

this are closing for to the Kim over would time. further Thank like comments. you. I questions at turn There no Joseph to floor

this for everyone your questions Thank joining you afternoon. and us

to a for XX checkpoint want while to all component cancer, of immunotherapy what able We this I time. our I have inhibitors in and a so makes having next the special all lot clinical have the to months. on see think I Utilizing I eager And we the cell in treating execute best profile. establish over here look our over places forward at patient think been for XX are results as to platform, to foundational remind Inovio responses treating combination during HPV know what X -- next well months. strategies safety favorable just a T ASPIRE what activating we as to additional very improve Inovio everyone as position to technology to to

various So, Thank everybody you providing again, months. great evening. for forward more presentations updates publications look from tonight, the a coming joining us to again and over have and posters, we from

concludes teleconference. today’s This

time. your thank you this disconnect for at And your participation. make lines You