INOVIO Announces Favorable Judgment in Litigation with VGXI, Inc. and GeneOne Life Science

PLYMOUTH MEETING, Pa., Oct. 20, 2026 /PRNewswire/ -- INOVIO Pharmaceuticals, Inc. (Nasdaq: INO), a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases, today announced that it secured a judgment in its favor, in the amount of $80,416,101, on all claims it filed against defendants VGXI, Inc. ("VGXI") and GeneOne Life Science, Inc. ("GeneOne") in the case captioned INOVIO Pharmaceuticals, Inc. v. VGXI, Inc. and GeneOne Life Science, Inc., No. 2020-06554, in the Court of Common Pleas of Montgomery County, Pennsylvania. The Court awarded INOVIO $61,750,789 in compensatory damages and $18,665,312 in fees and costs. The Court also entered judgment against defendants on their counterclaims.

INOVIO filed the case on June 3, 2020, when defendants breached the parties' Supply Agreement by refusing to honor their technology transfer obligations to enable scalable manufacturing of DNA plasmids.

Defendants' financial condition will likely impair INOVIO's ability to collect some or all of the judgment. INOVIO intends to use every reasonable effort to recover the damages awarded by this judgment.

Cooley LLP and FBT Gibbons served as trial counsel for INOVIO.

INOVIO is a biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from HPV-related diseases, cancer, and infectious diseases. INOVIO's technology optimizes the design and delivery of innovative DNA medicines that teach the body to manufacture its own disease-fighting tools.

This press release contains certain forward-looking statements relating to INOVIO's business, including statements regarding INOVIO's ability to collect on and realize the ultimate value from the judgment entered in INOVIO's favor against VGXI and GeneOne and the impact of defendants' financial condition on INOVIO's ability to enforce or collect any portion of the judgment. Actual events or results may differ from the expectations set forth herein as a result of a number of factors, including the risk that the judgment may be reduced, reversed, or otherwise modified on post-trial motions or appeal; the risk that defendants' financial condition will likely impair INOVIO's ability to collect some or all of the judgment, associated interest, fees and costs, notwithstanding INOVIO's intent to use every reasonable effort to recover the damages awarded; the time, expense, and uncertainty associated with collection and enforcement efforts; the adequacy of INOVIO's capital resources; the level of corporate expenditures; capital market conditions; and other factors set forth in INOVIO's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 and other filings INOVIO makes from time to time with the Securities and Exchange Commission. There can be no assurance that INOVIO will collect any or all of the judgment, that the judgment will not be reduced, reversed, or otherwise modified, or that any of the forward-looking information provided herein will be proven accurate. Forward-looking statements speak only as of the date of this release, and INOVIO undertakes no obligation to update or revise these statements, except as may be required by law.