Lawsuit Alleges Misleading Statements on INO-3107 Submission
Inovio Pharmaceuticals is contending with a securities fraud class-action lawsuit filed on March 19, 2026, creating legal uncertainty for the biopharmaceutical firm. The suit, publicized by law firms including The Schall Law Firm and Rosen Law Firm, covers investors who purchased securities between October 10, 2023, and December 26, 2025. The deadline for an investor to file as lead plaintiff is April 7, 2026.
The core allegations claim Inovio made false or misleading statements that concealed significant setbacks. The company allegedly failed to disclose manufacturing deficiencies for its proprietary CELLECTRA delivery device. This issue, according to the lawsuit, made it unlikely Inovio would submit its Biologics License Application (BLA) for INO-3107, a treatment for recurrent respiratory papillomatosis (RRP), by its stated target of the second half of 2024. The submission was subsequently delayed to mid-2025.
Stock Trades 42% Below Peak as Key FDA Date Nears
The legal challenges compound existing market pressure on Inovio's stock, which is trading at $1.65, approximately 42% below its 52-week high. The Relative Strength Index (RSI) of 11.8 indicates the stock is in deeply oversold territory. Investor anxiety stems from the company's regulatory prospects for INO-3107.
The lawsuit asserts that Inovio lacked sufficient data to justify its pursuit of an Accelerated Approval pathway from the U.S. Food and Drug Administration (FDA). The FDA ultimately accepted the BLA for a standard review, contradicting the company's earlier expressions of confidence. All market attention is now focused on the PDUFA date of October 30, 2026, which is the FDA's deadline to make a final decision on the drug's approval. While this legal battle unfolds, Inovio continues its clinical work, with plans to begin dosing the first patient in a glioblastoma combination study in the second half of 2026.
