Law Firms Urge Inovio Investors to Seek Lead Role in Securities Case

The push follows the FDA’s decision not to grant accelerated review for Inovio’s INO-3107 therapy.

Overview

Faruqi & Faruqi and the Law Offices of Howard G. Smith are calling on Inovio shareholders with losses to step forward to lead a federal securities class action.
The complaint says Inovio failed to tell investors that manufacturing for its CELLECTRA delivery device was deficient.
It also alleges the company overstated INO-3107’s regulatory and commercial prospects and was unlikely to meet its stated filing timeline.
The dispute stems from the FDA accepting the INO-3107 filing for a standard review and saying the submission did not justify accelerated approval, which is a faster path that requires specific supporting evidence.
After the FDA update, Inovio said it would seek a meeting on accelerated options rather than pursue standard review, and the stock dropped about 24% on the news as investors moved to organize the case.