Portnoy Law Firm Files Class Action Lawsuit Against Inovio Pharmaceuticals

Lawsuit alleges Inovio made false and misleading statements about its COVID-19 vaccine candidate INO-3107

Apr. 6, 2026 at 3:00pm

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The Portnoy Law Firm has filed a class action lawsuit against Inovio Pharmaceuticals, Inc. on behalf of investors who bought the company's securities between October 10, 2023 and December 26, 2025. The lawsuit alleges that Inovio made false and misleading statements about manufacturing issues with its CELLECTRA device, the likelihood of submitting its INO-3107 Biologics License Application (BLA) to the FDA, and the overall regulatory and commercial prospects of INO-3107.

Why it matters

This lawsuit highlights the risks and challenges facing pharmaceutical companies developing COVID-19 vaccines and treatments. Investors rely on accurate information from these companies, and allegations of false or misleading statements can lead to significant stock price drops and legal action.

The details

According to the lawsuit, Inovio made false and/or misleading statements about: (1) manufacturing deficiencies with its CELLECTRA device; (2) the likelihood of submitting the INO-3107 BLA to the FDA by the second half of 2024; (3) the lack of information to justify INO-3107's eligibility for FDA accelerated approval or priority review; and (4) the overall regulatory and commercial prospects of INO-3107. When the true details entered the market, Inovio's stock price fell 24.45% on December 29, 2025.

  • Inovio investors have until April 7, 2026 to file a lead plaintiff motion.
  • On December 29, 2025, the FDA announced it had accepted Inovio's BLA for INO-3107 on a standard review timeline, not the accelerated approval pathway Inovio had sought.

The players

Portnoy Law Firm

A law firm that represents investors in pursuing claims caused by corporate wrongdoing. The firm's founding partner has recovered over $5.5 billion for aggrieved investors.

Inovio Pharmaceuticals, Inc.

A biotechnology company developing COVID-19 vaccine candidate INO-3107 and other immunotherapies.

Lesley F. Portnoy

An attorney at the Portnoy Law Firm who is advising Inovio investors on the class action lawsuit.

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What they’re saying

“Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/inovio-pharmaceuticals-inc.”

— Lesley F. Portnoy, Attorney

What’s next

The judge will decide on April 7, 2026 whether to allow the class action lawsuit against Inovio to proceed.

The takeaway

This lawsuit highlights the importance of transparency and accurate information from pharmaceutical companies, especially those developing critical COVID-19 treatments. Investors rely on these companies to provide truthful updates, and allegations of false statements can have severe consequences.