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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2017
Accounting Policies [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following tables reconcile the components of the numerator and denominator included in the calculations of diluted net loss per share:
 
Year Ended December 31,
 
2017
 
2016
 
2015
Numerator
 
 
 
 
 
Net loss attributable to Inovio Pharmaceuticals, Inc.
$
(88,205,772
)
 
$
(73,740,339
)
 
$
(29,187,606
)
Adjustment for decrease in fair value of warrant liability
(806,819
)
 
—

 
(721,591
)
Numerator for use in diluted net loss per share
$
(89,012,591
)
 
$
(73,740,339
)
 
$
(29,909,197
)
 
 
 
 
 
 
Denominator
 
 
 
 
 
Weighted average number of common shares outstanding
81,777,493

 
73,214,766

 
68,198,142

Effect of dilutive potential common shares from warrants
140,529

 
—

 
167,123

Denominator for use in diluted net loss per share
81,918,022

 
73,214,766

 
68,365,265

 
 
 
 
 
 
Net loss per share, diluted
$
(1.09
)
 
$
(1.01
)
 
$
(0.44
)
Summary of common shares that were excluded from the diluted net loss per share calculation because of their anti-dilutive effect
The following table summarizes potential shares of common stock that were excluded from diluted net loss per share calculation because of their anti-dilutive effect:
 
 
Year Ended December 31,
 
2017
 
2016
 
2015
Options to purchase common stock
7,694,870

 
6,806,183

 
5,862,364

Warrants to purchase common stock
—

 
284,091

 
276,813

Restricted stock units
1,234,168

 
798,834

 
230,000

Convertible preferred stock
8,456

 
8,456

 
8,456

Total
8,937,494

 
7,897,564

 
6,377,633
Summary of assumptions used to estimate the fair value of stock options
The weighted average assumptions used in the Black-Scholes model for option grants to employees and directors are presented below:
 
 
Year Ended December 31,
 
2017
 
2016
 
2015
Risk-free interest rate
2.20%
 
0.91%
 
0.99%
Expected volatility
73%
 
76%
 
74%
Expected life in years
6
 
5
 
5
Dividend yield
—
 
—
 
—
Forfeiture rate
N/A
 
7%
 
7%
Assumptions used in the Black-Scholes model for non-employees are presented below:
 
 
Year Ended December 31,
 
2017
 
2016
 
2015
Risk-free interest rate
2.4%-2.6%
 
2.3%-2.5%
 
2.1%-2.3%
Expected volatility
97%-102%
 
71%-104%
 
105%-108%
Expected life in years
9-10
 
7-10
 
7-10
Dividend yield
—
 
—
 
—