Inovio Faces Class Action Lawsuit Over Regulatory Disclosures

Investors have until April 7th to join the lawsuit against the pharmaceutical company.

Apr. 6, 2026 at 9:58pm

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A photorealistic studio still-life photograph of a single, polished metal syringe floating on a clean, white background, conceptually representing the pharmaceutical industry and the abstract concept of regulatory approval.A pharmaceutical lawsuit over regulatory disclosures casts a spotlight on the high-stakes world of drug development.NYC Today

Bragar Eagel & Squire, P.C., a national stockholder rights law firm, has filed a class action lawsuit against Inovio Pharmaceuticals, Inc. (NASDAQ:INO) on behalf of investors who purchased Inovio securities between October 10, 2023 and December 26, 2025. The lawsuit alleges that Inovio made false and misleading statements about the regulatory prospects of its INO-3107 treatment for recurrent respiratory papillomatosis.

Why it matters

The lawsuit claims Inovio overstated the regulatory and commercial outlook for INO-3107, which could have significant financial implications for the company if the allegations are proven true. Investors in Inovio will be closely watching the outcome of this case, which could impact the stock price and future business prospects.

The details

According to the lawsuit, Inovio made misleading statements about manufacturing issues with its CELLECTRA device, the likelihood of submitting the INO-3107 Biologics License Application (BLA) to the FDA by the second half of 2024, and the treatment's eligibility for accelerated approval or priority review. When the FDA later announced it had accepted Inovio's BLA but did not find adequate justification for accelerated approval, Inovio's stock price fell 24.45%.

  • On December 29, 2025, the FDA announced it had accepted Inovio's BLA for INO-3107 on a standard review timeline.
  • Inovio filed the BLA under the accelerated approval pathway, but the FDA stated the company did not submit adequate information to justify eligibility for accelerated approval.

The players

Bragar Eagel & Squire, P.C.

A nationally recognized stockholder rights law firm that filed the class action lawsuit against Inovio Pharmaceuticals.

Inovio Pharmaceuticals, Inc.

A pharmaceutical company developing the INO-3107 treatment for recurrent respiratory papillomatosis.

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What they’re saying

“If you purchased or otherwise acquired Inovio shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato.”

— Brandon Walker, Litigation Partner, Bragar Eagel & Squire, P.C.

What’s next

Investors have until April 7, 2026 to apply to the Court to be appointed as lead plaintiff in the lawsuit against Inovio.

The takeaway

This case highlights the importance of accurate regulatory disclosures for pharmaceutical companies, as investors rely on this information to assess a drug's commercial potential. The outcome could set a precedent for how companies communicate about the regulatory status of their pipeline products.