I have been aware of Inovio Pharmaceuticals (INO) for at least a couple of years. They invented an electroporation device that allows biological substances to be infused into the skin. While the device itself is not for sale, it is being tested for delivery of several vaccines, and Inovio has also bought the rights to vaccines and is conducting clinical trials delivering the vaccines using the electroporation device.
Inovio is thinly traded and consistently loses money each quarter, though it does get some revenue from grants and licensing. I would call it very risky, since there is no guarantee that it will ever make a profit. On the other hand it could be very rewarding if one of the vaccines it or its partners are working on is ever approved by the FDA and put into commercial production.
In 2011 Inovio received substantial new funding by issuing stock and warrants, but of course that dilutes the pre-existing stock. They have a good bankroll now, but further dilution may be necessary before
Rather than repeat myself, for my notes on Inovio's Q4 results see Inovio Q4 2011.
I also created a page for Inovio to track their results and, if they have them, analyst conferences: Inovio at openicon.com.
And there is a lot of information at Inovio itself.
Disclaimer: I've been tempted to buy very small amounts of Inovio, but so far am just watching developments. I won't take any position (long or short) in Inovio for at least 24 hours after posting this.