Inovio Implements New ATM Agreement

                     Inovio Implements New ATM Agreement

PR Newswire

BLUE BELL, Pa., June 1, 2012

BLUE BELL, Pa., June 1, 2012 /PRNewswire/ -- Inovio Pharmaceuticals, Inc.
(NYSE MKT: INO) announced today that it has entered into a sales agreement
with Cowen and Company, LLC, under which Inovio may from time to time offer
and sell common stock with aggregate proceeds of up to $25,000,000. Inovio may
sell its stock through Cowen by methods deemed to be an "at the market"
offering (ATM) including sales made through the NYSE MKT, or any other
existing trading market for the common stock or to or through a market maker.
In addition, the common stock may be sold through negotiated transactions.
This ATM replaces a prior ATM agreement that Inovio already had in place.

A shelf registration statement (File No. 333-176670) relating to these
securities was filed with the Securities and Exchange Commission on September
2, 2011, which was declared effective on September 23, 2011. A prospectus
supplement related to the offering was filed with the Securities and Exchange
Commission on June 1, 2012. The securities may be offered only by means of a
prospectus, including a prospectus supplement, forming a part of the effective
registration statement. Copies of the prospectus supplement and accompanying
prospectus relating to the offering may be obtained, when available, from
Cowen and Company, LLC (c/o Broadridge Financial Services, 1155 Long Island
Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, Phone: 631-274-2806,
Fax: 631-254-7140). An electronic copy of the prospectus supplement and
accompanying prospectus relating to the offering is available on the website
of the Securities and Exchange Commission at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of
offers to buy any securities of Inovio, and shall not constitute an offer,
solicitation or sale of any security in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.

About Inovio Pharmaceuticals, Inc.
Inovio is revolutionizing vaccines to prevent and treat today's cancers and
challenging infectious diseases. Its SynCon^® vaccines are designed to provide
universal cross-strain protection against known as well as newly emergent
unmatched strains of pathogens such as influenza. These synthetic vaccines, in
combination with Inovio's proprietary electroporation delivery, have been
shown in humans to generate best-in-class immune responses with a favorable
safety profile. Inovio's clinical programs include phase II studies for
cervical dysplasia, leukemia and hepatitis C virus and phase I studies for
influenza and HIV. Partners and collaborators include the University of
Pennsylvania, Merck, ChronTech, National Cancer Institute, U.S. Military HIV
Research Program, NIH, HIV Vaccines Trial Network, University of Southampton,
US Dept. of Homeland Security and PATH Malaria Vaccine Initiative. More
information is available at www.inovio.com.

This press release contains certain forward-looking statements relating to our
business, including our plans to develop electroporation-based drug and gene
delivery technologies and DNA vaccines and our capital resources. Actual
events or results may differ from the expectations set forth herein as a
result of a number of factors, including uncertainties inherent in
pre-clinical studies, clinical trials and product development programs
(including, but not limited to, the fact that pre-clinical and clinical
results referenced in this release may not be indicative of results achievable
in other trials or for other indications, that the studies or trials may not
be successful or achieve the results desired, that pre-clinical studies and
clinical trials may not commence or be completed in the time periods
anticipated, that results from one study may not necessarily be reflected or
supported by the results of other similar studies and that results from an
animal study may not be indicative of results achievable in human studies),
the availability of funding to support continuing research and studies in an
effort to prove safety and efficacy of electroporation technology as a
delivery mechanism or develop viable DNA vaccines, the adequacy of our capital
resources, the availability or potential availability of alternative therapies
or treatments for the conditions targeted by the company or its collaborators,
including alternatives that may be more efficacious or cost-effective than any
therapy or treatment that the company and its collaborators hope to develop,
evaluation of potential opportunities, issues involving product liability,
issues involving patents and whether they or licenses to them will provide the
company with meaningful protection from others using the covered technologies,
whether such proprietary rights are enforceable or defensible or infringe or
allegedly infringe on rights of others or can withstand claims of invalidity
and whether the company can finance or devote other significant resources that
may be necessary to prosecute, protect or defend them, the level of corporate
expenditures, assessments of the company's technology by potential corporate
or other partners or collaborators, capital market conditions, the impact of
government healthcare proposals and other factors set forth in our Annual
Report on Form 10-K for the year ended December 31, 2011, our Form 10-Q for
the quarter ended March 31, 2012, and other regulatory filings from time to
time. There can be no assurance that any product in Inovio's pipeline will be
successfully developed or manufactured, that final results of clinical studies
will be supportive of regulatory approvals required to market licensed
products, or that any of the forward-looking information provided herein will
be proven accurate.

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CONTACTS:
Investors: Bernie Hertel, Inovio Pharmaceuticals, 858-410-3101
Media:     Jeff Richardson, Inovio Pharmaceuticals, 267-440-4211

SOURCE Inovio Pharmaceuticals, Inc.