On February 7, 2020, Inovio Pharmaceuticals, Inc. (the "Company") reported that it entered into an amendment (the "Amendment") to the At-The-Market Equity Offering Sales Agreement dated May 25, 2018 (as amended, the "Sales Agreement") with Stifel, Nicolaus & Company, Incorporated ("Stifel"), which amendment increases the amount of Company common stock, par value $0.001 per share (the "Common Stock"), 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 $100,000,000 to an aggregate offering price of up to $200,000,000 (Filing, 8-K, Inovio, FEB 7, 2020, View Source [SID1234554048]).

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Pursuant to the Sales Agreement, sales of the Common Stock, if any, will be made under the Company’s previously filed and effective Registration Statement on Form S-3 (File No. 333- 225233) and an applicable prospectus supplement, by any method that is deemed to be an "at the market offering" as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended. Since September 30, 2019 the Company has sold approximately $68.3 million of its common stock pursuant to the Agreement and since May 25, 2018 has sold $100 million of its common stock pursuant to the Agreement.

The Sales Agreement is attached or incorporated by reference to this Current Report on Form 8-K as Exhibits 1.1 and 1.2 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.

This Current Report on Form 8-K 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.