Inovio Pharmaceuticals Faces Investor Lawsuit Over Misleading Claims Regarding CELLECTRA Device

SAN DIEGO – March 20, 2026 – Robbins LLP has announced a class action lawsuit filed on behalf of investors who purchased Inovio Pharmaceuticals, Inc. (NASDAQ: INO) securities between October 10, 2023, and December 26, 2025. The biotechnology company, focused on DNA medicines, is accused of misleading investors regarding the development and approval prospects of its CELLECTRA device and INO-3107 treatment.

Details of the Class Action

The lawsuit alleges that Inovio failed to disclose critical information during the class period, including:

• Deficiencies in the manufacturing process of the CELLECTRA device.
• The unlikelihood of submitting the INO-3107 Biologics License Application (BLA) to the Food and Drug Administration (FDA) by the second half of 2024.
• Insufficient data to support the INO-3107 BLA’s eligibility for accelerated or priority review by the FDA.
• An overall overstatement of the regulatory and commercial potential of INO-3107.

Key Events and Stock Performance

According to the complaint, Inovio announced in a press release on August 8, 2024, that the submission of the INO-3107 BLA would be delayed until mid-2025 due to “a manufacturing issue” with a component of the CELLECTRA device. Following this announcement, Inovio’s stock price decreased by $0.27 per share, or 3.1%, closing at $8.44 on August 9, 2024.

Further impacting investor confidence, on December 29, 2025, Inovio revealed that the FDA had accepted the INO-3107 BLA for standard review, rather than the anticipated accelerated review. This decision stemmed from a lack of adequate information to justify accelerated approval. Inovio stated it would request a meeting with the FDA to discuss the possibility of pursuing accelerated approval in the future. The stock price subsequently fell $0.56 per share, or 24.45%, closing at $1.73 on December 29, 2025.

What Can Shareholders Do?

Investors who purchased Inovio Pharmaceuticals (INO) securities during the class period (October 10, 2023 – December 26, 2025) may be eligible to participate in the class action. Those wishing to serve as lead plaintiff must submit their documentation to the court by April 7, 2026. Participation is not required to potentially receive a recovery.

For more information, interested parties can submit a form, email attorney Aaron Dumas, Jr., or call (800) 350-6003.

About Robbins LLP

Robbins LLP is a leading firm in shareholder rights litigation, dedicated to recovering losses for investors, improving corporate governance, and holding company executives accountable since 2002. Learn more about Robbins LLP.

Attorney Advertising. Past results do not guarantee a similar outcome.