<SEC-DOCUMENT>0001193125-20-065842.txt : 20200309
<SEC-HEADER>0001193125-20-065842.hdr.sgml : 20200309
<ACCEPTANCE-DATETIME>20200309061902
ACCESSION NUMBER:		0001193125-20-065842
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20200303
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200309
DATE AS OF CHANGE:		20200309

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INOVIO PHARMACEUTICALS, INC.
		CENTRAL INDEX KEY:			0001055726
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				330969592
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14888
		FILM NUMBER:		20696449

	BUSINESS ADDRESS:	
		STREET 1:		6769 MESA RIDGE RD.
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121
		BUSINESS PHONE:		8584103134

	MAIL ADDRESS:	
		STREET 1:		6769 MESA RIDGE RD.
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INOVIO BIOMEDICAL CORP
		DATE OF NAME CHANGE:	20050404

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GENETRONICS BIOMEDICAL CORP
		DATE OF NAME CHANGE:	20011116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GENETRONICS BIOMEDICAL LTD
		DATE OF NAME CHANGE:	19980213
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d891484d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): March&nbsp;3, 2020 </B></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Inovio Pharmaceuticals, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="34%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">001-14888</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">33-0969592</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(State or other jurisdiction<BR>of incorporation)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Commission<BR>File Number)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>660 W. Germantown Pike, Suite 110 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Plymouth Meeting, PA 19462 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices, including zip code) </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(267) <FONT STYLE="white-space:nowrap">440-4200</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>N/A </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or
former address, if changed since last report) </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17
CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities registered pursuant to Section&nbsp;12(b) of the Act: </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="34%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Title of each class</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Trading<BR>Symbol(s)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Name of each exchange<BR>on which registered</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Common Stock, $0.001 par value</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>INO</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>The Nasdaq Stock Market LLC</B></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (&#167;230.405 of this chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter). </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Item 1.01. Entry into a Material Definitive Agreement. </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On March&nbsp;9, 2020, Inovio Pharmaceuticals, Inc. (the &#147;<B><I>Company</I></B>&#148;) entered into an Amendment No.&nbsp;2 (the
&#147;<B><I>Amendment</I></B>&#148;) to the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">At-The-Market</FONT></FONT> Equity Offering Sales Agreement dated May&nbsp;25, 2018, as amended by Amendment No.&nbsp;1 on February&nbsp;7,
2020 (as amended, the &#147;<B><I>Sales Agreement</I></B>&#148;) with Stifel, Nicolaus&nbsp;&amp; Company, Incorporated (&#147;<B><I>Stifel</I></B>&#148;), which amendment increases the amount of Company common stock, par value $0.001 per share (the
&#147;<B><I>Common Stock</I></B>&#148;), that can be sold by the Company through Stifel as its sales agent under the Sales Agreement from an aggregate offering price of up to $200,000,000 to an aggregate offering price of up to $250,000,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the Sales Agreement, sales of the Common Stock, if any, will be made under the Company&#146;s previously filed and effective Registration
Statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-</FONT> 225233) and an applicable prospectus supplement, by any method that is deemed to be an &#147;at the market offering&#148; as
defined in Rule 415(a)(4) under the Securities Act of 1933, as amended. Since September&nbsp;30, 2019 the Company has sold approximately $168.3&nbsp;million of its common stock pursuant to the Agreement and since May&nbsp;25, 2018 has sold
$200&nbsp;million of its common stock pursuant to the Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Sales Agreement is attached or incorporated by reference to this Current Report on
Form <FONT STYLE="white-space:nowrap">8-K</FONT> as Exhibits 1.1, 1.2 and 1.3 and is incorporated herein by reference. The foregoing description of the material terms of the Amendment does not purport to be complete and is qualified in its entirety
by reference to the exhibits attached hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> shall not constitute an offer to
sell or the solicitation of an offer to buy the securities discussed herein, nor shall there be any offer, solicitation, or sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Item 2.02. Results of Operations and Financial Conditions. </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2019, the Company had approximately $89.5&nbsp;million of cash and cash equivalents and short-term investments. This amount is
unaudited and preliminary, is subject to completion of financial closing procedures that could result in changes to the amount, and does not present all information necessary for an understanding of the Company&#146;s financial condition as of
December&nbsp;31, 2019. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Item 8.01. Other Events. </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On
March&nbsp;3, 2020 the Company announced that it plans to pursue an accelerated timeline for developing its DNA vaccine <FONT STYLE="white-space:nowrap">INO-4800</FONT> to address <FONT STYLE="white-space:nowrap">COVID-19,</FONT> also known as
coronavirus. The Company believes it may be in a position to begin human clinical trials in the United States in April 2020 and soon thereafter in China and South Korea, subject to approval by the U.S. Food and Drug Administration and China and
South Korea regulatory authorities, respectively, and aims to produce up to one million doses by the end of 2020, with its existing capacity and contract resources, for further clinical trials or emergency use. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Forward-Looking Statements </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This report contains certain
forward-looking statements relating to the Company&#146;s business that involve a number of risks and uncertainties, including statements about its plans related to <FONT STYLE="white-space:nowrap">INO-4800.</FONT> These statements may be identified
by introductory words such as &#147;may,&#148; &#147;expects,&#148; &#147;plan,&#148; &#147;believe,&#148; &#147;will,&#148; &#147;achieve,&#148; &#147;anticipate,&#148; &#147;would,&#148; &#147;should,&#148; &#147;subject to&#148; or words of
similar meaning, or by the fact that they do not relate strictly to historical or current facts. For such statements, the Company claims the protection of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ from
the expectations set forth herein as a result of a number of factors, including, but not limited to factors discussed in the &#147;Risk Factors&#148; sections of the Company&#146;s most recently filed Annual Report on Form <FONT
STYLE="white-space:nowrap">10-K</FONT> and Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q,</FONT> and other filings that the Company makes with the SEC from time to time. There can be no assurance that any of the forward-looking
information provided herein will be proven accurate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, the forward-looking statements included in this report represent the Company&#146;s
views as of the date hereof. The Company anticipates that subsequent events and developments may cause its views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the company
specifically disclaims any obligation to do so, except as may be required by law. These forward-looking statements should not be relied upon as representing the Company&#146;s views as of any date subsequent to the date of this report. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Item 9.01. Financial Statements and Exhibits. </U></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="93%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Exhibit<BR>No.</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Exhibit Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>1.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1055726/000119312518175305/d593417dex11.htm"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">At-The-Market</FONT></FONT> Equity Offering Sales Agreement dated May 25, 2018
between Inovio Pharmaceuticals, Inc. and Stifel, Nicolaus&nbsp;&amp; Company, Incorporated (incorporated by reference to Exhibit 1.1 to the Company&#146;s Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed May&nbsp;25, 2018).
</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>1.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1055726/000119312520028310/d858444dex12.htm">Amendment No.&nbsp;
1 to the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">At-The-Market</FONT></FONT> Equity Offering Sales Agreement dated February&nbsp;7, 2020 between Inovio Pharmaceuticals, Inc. and Stifel, Nicolaus&nbsp;
&amp; Company, Incorporated (incorporated by reference to Exhibit 1.2 to the Company&#146;s Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed February&nbsp;7, 2020). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>1.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d891484dex13.htm">Amendment No.&nbsp;
2 to the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">At-The-Market</FONT></FONT> Equity Offering Sales Agreement dated March 9, 2020 between Inovio Pharmaceuticals, Inc. and Stifel, Nicolaus&nbsp;&amp; Company, Incorporated.
</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d891484dex51.htm">Opinion of Cooley LLP. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>23.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d891484dex51.htm">Consent of Cooley LLP (included in Exhibit 5.1). </A></TD></TR>
</TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="45%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="3%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"><B>INOVIO PHARMACEUTICALS, INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: March 9, 2020</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Peter Kies</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Peter Kies</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Chief Financial Officer</TD></TR>
</TABLE>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.3
<SEQUENCE>2
<FILENAME>d891484dex13.htm
<DESCRIPTION>EX-1.3
<TEXT>
<HTML><HEAD>
<TITLE>EX-1.3</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INOVIO PHARMACEUTICALS, INC. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENT NO. 2 TO </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">AT-THE-MARKET</FONT></FONT> EQUITY OFFERING SALES AGREEMENT
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">March&nbsp;9, 2020 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">STIFEL,
NICOLAUS&nbsp;&amp; COMPANY, INCORPORATED </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">One South Street, 15<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Baltimore, Maryland 21202 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is made to the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">At-The-Market</FONT></FONT> Equity Offering Sales
Agreement, dated as of May&nbsp;25, 2018 (the &#147;<U>Original Sales Agreement</U>&#148;) between Stifel, Nicolaus&nbsp;&amp; Company, Incorporated (&#147;<U>Stifel Nicolaus</U>&#148;) and Inovio Pharmaceuticals, Inc., a Delaware corporation (the
&#147;<U>Company</U>&#148;), as amended by Amendment No.&nbsp;1 to the Original Sales Agreement, dated as of February&nbsp;7, 2020 (the &#147;<U>First Amendment</U>&#148; and, together with the Original Sales Agreement, the &#147;<U>Sales
Agreement</U>&#148;), pursuant to which the Company agreed to sell through Stifel Nicolaus, acting as sales agent and/or principal, shares of the Company&#146;s common stock, $0.001 par value per share. All capitalized terms used in this Amendment
No.&nbsp;2 to the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">At-The-Market</FONT></FONT> Equity Offering Sales Agreement between Stifel Nicolaus and the Company (this &#147;<U>Amendment</U>&#148;) and not otherwise defined
herein shall have the respective meanings assigned to such terms in the Sales Agreement. Stifel Nicolaus and the Company agree as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A. <U>Amendments to the Sales Agreement</U>. The Sales Agreement is amended as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. The first paragraph of the Sales Agreement is hereby deleted in its entirety and replaced with the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;Inovio Pharmaceuticals, Inc., a Delaware corporation (the &#147;<U>Company</U>&#148;), proposes, subject to the terms and conditions
stated herein, to issue and sell from time to time to or through Stifel, Nicolaus&nbsp;&amp; Company, Incorporated (&#147;<U>Stifel Nicolaus</U>&#148;), as sales agent and/or principal (&#147;<U>Agent</U>&#148;), shares of the Company&#146;s common
stock, $0.001 par value per share (the &#147;<U>Common Stock</U>&#148;), (i) having an aggregate offering price of up to $100,000,000 (the &#147;<U>Initial Shares</U>&#148;), (ii) on or after February&nbsp;7, 2020, having an aggregate offering price
of up $100,000,000 (the &#147;<U>February Additional Shares</U>&#148;), and (iii)&nbsp;on or after March&nbsp;9, 2020, having an aggregate offering price of up to $50,000,000 (the &#147;<U>March Additional Shares</U>&#148; and, together with the
February Additional Shares and the Initial Shares, the &#147;<U>Shares</U>&#148;) on the terms set forth in Section&nbsp;2 of <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">this&nbsp;At-The-Market&nbsp;Equity</FONT></FONT>
Offering Sales Agreement (this &#147;<U>Agreement</U>&#148;). For the avoidance of doubt, the amount of March Additional Shares available for offer and sale under this Agreement are in addition to any offers and sales of Shares made prior to
March&nbsp;9, 2020 or hereafter under the sales agreement prospectus supplement for the Initial Shares filed by the Company on June&nbsp;11, 2018 and under the sales agreement prospectus supplement for the February Additional Shares filed by the
Company on February&nbsp;7, 2020. The Company agrees that whenever it determines to sell Shares directly to the Agent as principal, it will enter into a separate agreement (each, a &#147;<U>Terms Agreement</U>&#148;) in substantially the form of
Annex I hereto, relating to such sale in accordance with Section&nbsp;3 of this Agreement.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. The first paragraph of
Section&nbsp;1(a) of the Sales Agreement is hereby deleted in its entirety and replaced with the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;(a) <U>Compliance with
Registration Requirements</U>. The Company has filed with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) a registration under the Securities Act of 1933, as amended (the &#147;<U>1933 Act</U>&#148;) on Form <FONT
STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-225233),</FONT> in respect of the Company&#146;s Common Stock (including the Shares) (collectively, the &#147;<U>Securities</U>&#148;); such registration
statement, and any post-effective amendment thereto, has become effective; and no stop order suspending the effectiveness of such registration statement or any part thereof has been issued and no proceeding for that purpose has been initiated or, to
the knowledge of the Company, threatened by the Commission (the base prospectus filed as part of such registration statement, in the form in which it has most recently been filed with the Commission on or prior to the date of this Agreement, is
hereinafter called the &#147;<U>Basic Prospectus</U>&#148;; the various parts of such registration statement, including all exhibits thereto and any prospectus supplement relating to the Shares that is filed with the Commission and deemed by virtue
of Rule 430B to be part of such registration statement, each as amended at the time such part of the registration statement became effective, are hereinafter collectively called the &#147;<U>Registration Statement</U>&#148;; the prospectus
supplement specifically relating to the Initial Shares, the prospectus supplement specifically relating to the February Additional Shares and the prospectus supplement specifically relating to the March Additional Shares, each prepared and filed
with the Commission pursuant to Rule 424(b) under the 1933 Act, are collectively hereinafter called the &#147;<U>Prospectus Supplement</U>&#148;; the Basic Prospectus, as amended and supplemented by each Prospectus Supplement, is hereinafter called
the &#147;<U>Prospectus</U>&#148;; any reference herein to the Basic Prospectus, the Prospectus Supplement or the Prospectus shall be deemed to refer to and include the documents incorporated by reference therein pursuant to Item 12 of Form <FONT
STYLE="white-space:nowrap">S-3</FONT> under the 1933 Act; any reference to any amendment or supplement to the Basic Prospectus, the Prospectus Supplement or the Prospectus shall be deemed to refer to and include any post-effective amendment to the
Registration Statement, any prospectus supplement relating to the Shares filed with the Commission pursuant to Rule 424(b) under the 1933 Act and any documents filed under the Securities Exchange Act of 1934, as amended (the &#147;<U>1934
Act</U>&#148;), and the rules and regulations of the Commission thereunder (the &#147;<U>1934 Act Regulations</U>&#148;), and incorporated therein, in each case after the date of the Basic Prospectus, the Prospectus Supplement or the Prospectus, as
the case may be; any reference to any amendment to the Registration Statement shall be deemed to refer to and include any annual report of the Company filed pursuant to Section&nbsp;13(a) or 15(d) of the 1934 Act after the effective date of the
Registration Statement that is incorporated by reference in the Registration Statement; and any &#147;issuer free writing prospectus&#148; as defined in Rule 433 under the 1933 Act relating to the Shares is hereinafter called an &#147;<U>Issuer Free
Writing Prospectus</U>&#148;).&#148; </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. All references to &#147;May 25, 2018&#148; set forth in Annex 1 of the Sales Agreement
are revised to read &#147;May 25, 2018 (as amended by Amendment No.&nbsp;1 to the Sales Agreement, dated February&nbsp;7, 2020 and Amendment No.&nbsp;2 to the Sales Agreement, dated March&nbsp;9, 2020)&#148;. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">B. <U>Company Filings</U>. The Company shall file a Prospectus Supplement pursuant to 424(b) of the 1933 Act reflecting this Amendment within
two (2)&nbsp;Business Days of the date hereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">C. <U>No Other Amendments</U>. Except as set forth in Part A above, all the terms and
provisions of the Sales Agreement shall continue in full force and effect. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">D. <U>Amendment</U>. All references in the Agreement to the
&#147;Agreement&#148; shall mean the Agreement as amended by this Amendment; provided, however, that all references to &#147;date of this Agreement&#148; in the Agreement shall continue to refer to the date of the Agreement, and the reference to
&#147;time of execution of this Agreement&#148; set forth in Section&nbsp;10(e) of the Agreement shall continue to refer to the time of execution of the Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">E. <U>Applicable Law; Consent to Jurisdiction</U>. This amendment shall be governed by, and construed in accordance with, the internal laws of
the State of New York without regard to the principles of conflicts of laws. Each party hereby irrevocably submits to the <FONT STYLE="white-space:nowrap">non-exclusive</FONT> jurisdiction of the state and federal courts sitting in the City of New
York, borough of Manhattan, for the adjudication of any dispute hereunder or in connection with any transaction contemplated hereby, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not
personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal
service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof (certified or registered mail, return receipt requested) to such party at the address in effect for notices to it under this
amendment and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">F. <U>Waiver of Jury Trial</U>. The Company and Stifel Nicolaus each hereby irrevocably waives any right it may have to a trial by jury in
respect of any claim based upon or arising out of this amendment or any transaction contemplated hereby. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">G. <U>Counterparts</U>. This
Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed amendment by one party to the other may be made by
facsimile transmission. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing correctly sets forth the understanding among the Company and Stifel
Nicolaus, please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding amendment to the Agreement between the Company and Stifel Nicolaus. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">INOVIO PHARMACEUTICALS, INC. </TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Peter Kies</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Peter Kies</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title: Chief Financial Officer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Accepted as of the date hereof:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">STIFEL, NICOLAUS&nbsp;&amp; COMPANY, INCORPORATED</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Daniel J. Covatta</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Daniel J. Covatta</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title: Managing Director</TD></TR>
</TABLE>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>d891484dex51.htm
<DESCRIPTION>EX-5.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-5.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 5.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g891484dsp09.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Brian F. Leaf </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(703) <FONT
STYLE="white-space:nowrap">456-8053</FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">bleaf@cooley.com </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">March&nbsp;9, 2020 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Inovio Pharmaceuticals, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">660 W. Germantown Pike, Suite 110 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Plymouth Meeting, Pennsylvania
19462 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have represented Inovio Pharmaceuticals, Inc., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), in connection with the offering
by the Company of up to $50,000,000 of the Company&#146;s common stock, par value $0.001 per share, (the &#147;<B><I>Shares</I></B>&#148;), pursuant to a Registration Statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT
STYLE="white-space:nowrap">No.&nbsp;333-225233)</FONT> (the &#147;<B><I>Registration Statement</I></B>&#148;), filed with the Securities and Exchange Commission (the &#147;<B><I>Commission</I></B>&#148;) under the Securities Act of 1933, as amended
(the &#147;<B><I>Act</I></B>&#148;), the prospectus included within the Registration Statement (the &#147;<B><I>Base Prospectus</I></B>&#148;), and the prospectus supplement dated March&nbsp;9, 2020, filed with the Commission pursuant to Rule 424(b)
of the Rules and Regulations of the Act (together with the Base Prospectus, the &#147;<B><I>Prospectus</I></B>&#148;). The Shares are to be sold by the Company in accordance with the
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">At-The-Market</FONT></FONT> Equity Offering Sales Agreement dated May&nbsp;25, 2018 as amended on February&nbsp;7, 2020 and March&nbsp;9, 2020 (the &#147;<B><I>Sales
Agreement</I></B>&#148;)<B><I> </I></B><B><I></I></B>between the Company and Stifel, Nicolaus&nbsp;&amp; Company, Incorporated, as described in the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with this opinion, we have examined and relied upon (a)&nbsp;the Registration Statement and the Prospectus, (b)&nbsp;the Company&#146;s
Certificate of Incorporation, as amended, and Amended and Restated Bylaws, each as currently in effect, (c)&nbsp;the Sales Agreement and (d)&nbsp;the originals or copies certified to our satisfaction of such records, documents, certificates,
memoranda and other instruments as in our judgment are necessary or appropriate to enable us to render the opinion expressed below. We have assumed the genuineness and authenticity of all documents submitted to us as originals, and the conformity to
originals of all documents submitted to us as copies thereof (except that such assumption is not made with respect to the due execution and delivery of documents by the Company). As to certain factual matters, we have relied upon a certificate of
officers of the Company and have not sought to independently verify such matters. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have assumed (i)&nbsp;that the specific sale of Shares will be duly
authorized by the Board of Directors of the Company, a duly authorized committee thereof or a person or body pursuant to an authorization granted in accordance with Section&nbsp;152 of the General Corporation Law of the State of Delaware (the
&#147;<B><I>DGCL</I></B>&#148;) and (ii)&nbsp;that no more than 30,000,000 Shares will be sold. We express no opinion to the extent that future issuances of securities of the Company and/or anti-dilution adjustments to outstanding securities of the
Company cause the number of shares of Common Stock outstanding or issuable upon conversion or exercise of outstanding securities of the Company to exceed the number of Shares then issuable under the Sales Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our opinion is expressed only with respect to the DGCL. We express no opinion to the extent that any other laws are applicable to the subject matter hereof
and express no opinion and provide no assurance as to compliance with any federal or state securities law, rule or regulation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On the basis of the
foregoing and in reliance thereon, we are of the opinion that the Shares, when issued and paid for in accordance with the Sales Agreement and as provided in the Prospectus, will be validly issued, fully paid and nonassessable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We consent to the reference to our firm under the caption &#147;Legal Matters&#148; in the Prospectus and to the filing of this opinion as an exhibit to the
Company&#146;s Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> to be filed with the Commission for incorporation by reference into the Registration Statement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ONE FREEDOM SQUARE,
RESTON TOWN CENTER, 11951 FREEDOM DRIVE, RESTON, VA 20190-5640 T: (703) <FONT STYLE="white-space:nowrap">456-8000</FONT> F: (703) <FONT STYLE="white-space:nowrap">456-8100</FONT> WWW.COOLEY.COM </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>

<TD WIDTH="100%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g891484dsp09.jpg" ALT="LOGO">
</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">March&nbsp;9, 2020</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Page Two</P></TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">C<SMALL>OOLEY</SMALL> LLP </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Brian F. Leaf</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Brian F. Leaf</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ONE FREEDOM SQUARE, RESTON TOWN CENTER, 11951 FREEDOM DRIVE, RESTON, VA 20190-5640 T: (703) <FONT
STYLE="white-space:nowrap">456-8000</FONT> F: (703) <FONT STYLE="white-space:nowrap">456-8100</FONT> WWW.COOLEY.COM </P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>g891484dsp09.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g891484dsp09.jpg
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M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
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M%@\,ZE*9+9W$: G(5C]UE]CD<>]13E*$^1G9F&'HX["?7**LUK_G?T#XO?\
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M?-&YXN8X1X3$."VW7I_6AYZN?'GQ*W<OIUL?P\I#_P"S-_/VKF_BU/(^E?\
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M<*WEN6^TEN]4O-[?YGKZ(L:*B*%11@ = *[=CXMMMW8Z@04 % !0 4 % !0
M4 % !0 4 % !0 4 % &5XDNKVST"ZDTZWDGO&79$L:DD$\9_#K^%1-M1T.S!
M4Z=2O%56E'K?^NIS'PU\-3Z197-_?P/#>7#;%1QAE0?XG^0K*A!Q5V>KG>.C
MB)QI4G>*_/\ X!WE=!\\% !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0
&4 % '__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
