Inovio Pharmaceuticals (INO) 10-Q 10 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 03, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Entity Registrant Name	INOVIO PHARMACEUTICALS, INC.
Entity Central Index Key	1,055,726
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		72,116,811

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 70,297,574	$ 40,543,982
Short-term investments	84,295,821	53,075,974
Accounts receivable	5,608,845	2,804,207
Prepaid expenses and other current assets	551,298	797,973
Prepaid expenses and other current assets from affiliated entity	1,045,370	1,382,375
Deferred tax asset	342,573	342,573
Total current assets	162,141,481	98,947,084
Fixed assets, net	5,497,203	4,583,204
Investment in affiliated entity	18,849,647	12,340,811
Intangible assets, net	4,333,444	4,776,059
Goodwill	10,113,371	10,113,371
Common stock warrants	186,500	550,000
Other assets	581,342	474,568
Total assets	201,702,988	131,785,097
Current liabilities:
Accounts payable and accrued expenses	6,068,232	6,383,170
Accounts payable and accrued expenses due to affiliated entity	3,417,017	28,407
Accrued clinical trial expenses	2,546,487	2,007,432
Common stock warrants	1,710,229	2,022,729
Deferred revenue	152,108	3,187,223
Deferred revenue from affiliated entity	432,291	394,791
Deferred rent	193,442	0
Total current liabilities	14,519,806	14,023,752
Deferred revenue, net of current portion	313,667	173,779
Deferred revenue from affiliated entity, net of current portion	649,194	836,694
Deferred rent, net of current portion	4,758,564	4,709,229
Deferred tax liabilities	504,049	504,049
Total liabilities	20,745,280	20,247,503
Inovio Pharmaceuticals, Inc. stockholders’ equity:
Common stock	71,810	60,741
Additional paid-in capital	529,555,022	443,327,915
Accumulated deficit	(348,740,319)	(331,910,290)
Accumulated other comprehensive loss	(324,192)	(251,390)
Total Inovio Pharmaceuticals, Inc. stockholders’ equity	180,562,321	111,226,976
Non-controlling interest	395,387	310,618
Total stockholders’ equity	180,957,708	111,537,594
Total liabilities and stockholders’ equity	$ 201,702,988	$ 131,785,097

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Revenue under collaborative research and development arrangements	$ 4,335,236	$ 3,107,781	$ 8,580,807	$ 4,543,508
Revenue under collaborative research and development arrangements with affiliated entity	166,667	137,500	279,167	254,464
Grants and miscellaneous revenue	784,775	556,381	1,593,341	1,361,333
Total revenues	5,286,678	3,801,662	10,453,315	6,159,305
Operating expenses:
Research and development	16,688,511	9,607,281	26,114,831	17,832,761
General and administrative	4,718,260	4,347,327	8,826,188	8,479,545
Gain on sale of assets	(1,000,000)	0	(1,000,000)	0
Total operating expenses	20,406,771	13,954,608	33,941,019	26,312,306
Loss from operations	(15,120,093)	(10,152,946)	(23,487,704)	(20,153,001)
Other income (expense):
Interest and other income, net	146,332	68,999	284,608	121,075
Change in fair value of common stock warrants	(49,773)	824,390	(51,000)	318,464
Gain (loss) on investment in affiliated entity	8,861,145	(1,458,160)	6,508,836	(1,835,123)
Net loss	(6,162,389)	(10,717,717)	(16,745,260)	(21,548,585)
Net (gain) loss attributable to non-controlling interest	(85,861)	6,443	(84,769)	15,851
Net loss attributable to Inovio Pharmaceuticals, Inc.	$ (6,248,250)	$ (10,711,274)	$ (16,830,029)	$ (21,532,734)
Net loss per common share attributable to Inovio Pharmaceuticals, Inc. stockholders:
Basic (in USD per share)	$ (0.09)	$ (0.18)	$ (0.26)	$ (0.37)
Diluted (in USD per share)	$ (0.09)	$ (0.19)	$ (0.27)	$ (0.38)
Weighted average number of common shares outstanding used in per share calculations:
Basic (in shares)	67,655,975	60,232,498	64,198,528	57,722,938
Diluted (in shares)	67,838,738	60,474,859	64,376,523	57,976,455

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (6,162,389)	$ (10,717,717)	$ (16,745,260)	$ (21,548,585)
Other comprehensive income (loss):
Foreign currency translation adjustments	0	0	0	(1,689)
Unrealized (loss) gain on short-term investments	(132,670)	24,447	(72,802)	30,691
Comprehensive loss	(6,295,059)	(10,693,270)	(16,818,062)	(21,519,583)
Comprehensive (gain) loss attributable to non-controlling interest	(85,861)	6,443	(84,769)	15,851
Comprehensive loss attributable to Inovio Pharmaceuticals, Inc.	$ (6,380,920)	$ (10,686,827)	$ (16,902,831)	$ (21,503,732)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net loss	$ (16,745,260)	$ (21,548,585)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	451,386	244,195
Amortization of intangible assets	442,615	477,462
Change in value of common stock warrants	51,000	(318,464)
Stock-based compensation	3,773,134	3,752,687
Amortization of premiums on investments	154,655	0
Deferred rent	242,777	375,382
Loss on disposal of fixed assets	(2,252)	2,959
Loss on short-term investments	1,183	0
Loss on investment in affiliated entity	(6,508,836)	1,835,123
Gain on sale of intangible assets	(1,000,000)	0
Changes in operating assets and liabilities:
Accounts receivable	(2,804,638)	424,911
Prepaid expenses and other current assets	246,675	(80,126)
Prepaid expenses and other current assets from affiliated entity	337,005	1,536,433
Other assets	(106,774)	(168)
Accounts payable and accrued expenses	34,008	24,547
Accounts payable and accrued expenses due to affiliated entity	3,388,610	182,245
Deferred revenue	(2,895,227)	(527,765)
Deferred revenue from affiliated entity	(150,000)	(143,751)
Net cash used in operating activities	(21,089,939)	(13,705,728)
Cash flows from investing activities:
Purchases of investments	(35,193,487)	(8,286,494)
Maturities of investments	3,745,000	6,900,000
Purchases of capital assets	(1,173,024)	(887,183)
Proceeds from sale of intangible assets	1,000,000	0
Net cash used in investing activities	(31,621,511)	(2,273,677)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of issuance costs	81,902,363	59,209,182
Proceeds from stock option and warrant exercises	562,679	11,587,300
Net cash provided by financing activities	82,465,042	70,796,482
Effect of exchange rate changes on cash and cash equivalents	0	(1,689)
Increase in cash and cash equivalents	29,753,592	54,815,388
Cash and cash equivalents, beginning of period	40,543,982	33,719,796
Cash and cash equivalents, end of period	70,297,574	88,535,184
Supplemental disclosure of non-cash activities
Amounts accrued for purchases of property and equipment	190,109	89,539
Lease incentive recorded as fixed assets and deferred rent	$ 0	$ 933,350

Organization and Operations

Organization and Operations	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations	Organization and Operations Inovio Pharmaceuticals, Inc. (the “Company” or “Inovio”), a clinical stage biopharmaceutical company, develops active DNA immunotherapies and vaccines in combination with proprietary electroporation delivery devices to prevent and treat cancers and infectious diseases. Inovio’s synthetic products are based on the Company’s SynCon ® design. The Company has completed, current or planned clinical programs of its proprietary SynCon ® products for HPV-caused pre-cancers and cancers, influenza, prostate cancer, breast/lung/pancreatic cancer, hepatitis C virus (HCV), hepatitis B virus (HBV), HIV, and Ebola. The Company's partners and collaborators include F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc. (“Roche”), University of Pennsylvania, Drexel University, National Microbiology Laboratory of the Public Health Agency of Canada, National Institute of Allergy and Infectious Diseases (“NIAID”), United States Military HIV Research Program (“USMHRP”), U.S. Army Medical Research Institute of Infectious Diseases (“USAMRIID”), HIV Vaccines Trial Network (“HVTN”), Defense Advanced Research Projects Agency (“DARPA”) and MedImmune, LLC. Inovio is incorporated in Delaware.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Inovio have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The condensed consolidated balance sheet as of June 30, 2015 , condensed consolidated statements of operations for the three and six months ended June 30, 2015 and 2014 , condensed consolidated statements of comprehensive loss for the three and six months ended June 30, 2015 and 2014 and the condensed consolidated statements of cash flows for the six months ended June 30, 2015 and 2014 , are unaudited, but include all adjustments (consisting of normal recurring adjustments) that the Company considers necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented. The results of operations for the three and six months ended June 30, 2015 shown herein are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 , or for any other period. These financial statements, and notes thereto, should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2014 , included in the Company's Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on March 13, 2015. The balance sheet at December 31, 2014 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The Company has evaluated subsequent events after the balance sheet date of June 30, 2015 through the date it filed these unaudited condensed consolidated financial statements with the SEC. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Impact of Recently Issued Accou

Impact of Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Impact of Recently Issued Accounting Standards	Impact of Recently Issued Accounting Standards The recent pronouncements below may have a significant effect on the Company's financial statements. Recent pronouncements that are not anticipated to have an impact on or are unrelated to the Company's financial condition, results of operations, or related disclosures are not discussed. Accounting Standards Update (“ASU”), No. 2014-15- In August 2014, the Financial Accounting Standards Board (the “FASB”), issued ASU 2014-15, which intends to define management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related disclosure. ASU 2014-15 defines the term substantial doubt and requires an assessment for a period of one year after the date of the issuance of the financial statements. It requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans and requires an express statement and other disclosures when substantial doubt is not alleviated. The guidance becomes effective for reporting periods beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating the impact the adoption of this guidance will have on its financial statements and related disclosures. ASU, No. 2014-09- In May 2014, the FASB amended the existing accounting standards for revenue recognition, which outlines a comprehensive revenue recognition model and supersedes most current revenue recognition guidance. The new standard requires a company to recognize revenue upon transfer of goods or services to a customer at an amount that reflects the expected consideration to be received in exchange for those goods or services. The amended guidance defines a five-step approach for recognizing revenue, which may require a company to use more judgment and make more estimates than under the current guidance. The amended guidance as currently issued will be effective for the Company starting in 2018. The new standard allows for two methods of adoption: (a) full retrospective adoption, meaning the standard is applied to all periods presented, or (b) modified retrospective adoption, meaning the cumulative effect of applying the new standard is recognized as an adjustment to the opening retained earnings balance. The Company is in the process of determining the adoption method it will implement, as well as the effects the adoption will have on its financial statements and related disclosures.

Principles of Consolidation

Principles of Consolidation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation These unaudited condensed consolidated financial statements include the accounts of Inovio Pharmaceuticals, Inc. and its subsidiaries. In conjunction with the acquisition in June 2009 of VGX Pharmaceuticals (the “Merger”), the Company acquired a majority interest in VGX Animal Health and certain shares in GeneOne Life Sciences (“GeneOne”) (a publicly-traded company in South Korea). The Company consolidates Genetronics, Inc. (a wholly-owned subsidiary of Inovio Pharmaceuticals, Inc.), VGX Pharmaceuticals and its subsidiary VGX Animal Health and records a non-controlling interest for the 9% of VGX Animal Health it does not own as of June 30, 2015 and December 31, 2014 . The Company's investment in GeneOne, which is recorded as investment in affiliated entity within the condensed consolidated balance sheets is accounted for at fair value on a recurring basis, with changes in fair value recorded on the condensed consolidated statements of operations within gain (loss) on investment in affiliated entity. All intercompany accounts and transactions have been eliminated upon consolidation. Variable Interest Entities In June 2009, the FASB issued authoritative guidance that requires companies to perform a qualitative analysis to determine whether a variable interest in another entity represents a controlling financial interest in a variable interest entity. A controlling financial interest in a variable interest entity is characterized by having both the power to direct the most significant activities of the entity and the obligation to absorb losses or the right to receive benefits of the entity. This guidance also requires on-going reassessments of variable interests based on changes in facts and circumstances. This guidance became effective for fiscal years beginning after November 15, 2009. The Company adopted the provisions of the guidance in the first quarter of 2010 and determined that none of the entities with which the Company currently conducts business and collaborations are variable interest entities, except VGXI (a wholly-owned subsidiary of GeneOne) and Plumbline Life Sciences (See Note 11). The Company determined that they are not the primary beneficiary and therefore are not required to consolidate VGXI or Plumbline Life Sciences. The Company continues to assess its variable interests and has determined that no significant changes have occurred as of June 30, 2015 .

Investments

Investments	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments consist of mutual funds, United States corporate debt securities and municipal bonds at June 30, 2015 and mutual funds and United States corporate debt securities at December 31, 2014 . The Company classifies all investments as available-for-sale, as the sale of such investments may be required prior to maturity to implement management strategies. Available-for-sale securities are recorded at fair value, based on current market valuations. Unrealized gains and losses on available-for-sale securities are excluded from earnings and are reported as a separate component of other comprehensive loss until realized. Realized gains and losses are included in non-operating other income (expense) on the condensed consolidated statement of operations and are derived using the specific identification method for determining the cost of the securities sold. During the three and six months ended June 30, 2015 and 2014, a minimal amount of net realized loss on investments was recorded. Interest and dividends on investments classified as available-for-sale are included in interest and other income, net, in the condensed consolidated statements of operations. As of June 30, 2015 , the Company had 51 available-for-sale securities in a gross unrealized loss position of which 4 were in such position for longer than 12 months. There were no impairments considered to be other-than-temporary as the Company has the ability and intent to hold the securities until recovery of the cost basis. The following is a summary of short-term investments as of June 30, 2015 and December 31, 2014 : As of June 30, 2015 Contractual Maturity (in years) Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Mutual funds --- $ 58,532,030 $ — $ (296,239 ) $ 58,235,791 US corporate debt securities Less than 2 25,983,647 4,085 (31,741 ) 25,955,991 Municipal bonds Less than 1 104,336 — (297 ) 104,039 Total investments $ 84,620,013 $ 4,085 $ (328,277 ) $ 84,295,821 As of December 31, 2014 Contractual Maturity (in years) Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Mutual funds --- $ 29,487,758 $ 2,667 $ (216,790 ) $ 29,273,635 US corporate debt securities Less than 2 23,839,606 70 (37,337 ) 23,802,339 Total investments $ 53,327,364 $ 2,737 $ (254,127 ) $ 53,075,974

Marketable Securities and Fair

Marketable Securities and Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Marketable Securities and Fair Value Measurements	Marketable Securities and Fair Value Measurements The guidance regarding fair value measurements establishes a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. The Company reviews the fair value hierarchy classification on a quarterly basis. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. The Company did not have any transfer of assets and liabilities between Level 1, Level 2 and Level 3 of the fair value hierarchy during the six months ended June 30, 2015 or 2014 . The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2015 : Fair Value Measurements at June 30, 2015 Total Using Quoted Prices in Active Markets for Identical Assets (Level 1) Using Significant Other Unobservable Inputs (Level 2) Using Significant Unobservable Inputs (Level 3) Assets: Money market funds $ 66,460,760 $ 66,460,760 $ — $ — Mutual funds 58,235,791 — 58,235,791 — US corporate debt securities 25,955,991 — 25,955,991 — Municipal bonds 104,039 — 104,039 — Investment in affiliated entity 18,849,647 18,849,647 — — Common stock warrants 186,500 — — 186,500 Total Assets $ 169,792,728 $ 85,310,407 $ 84,295,821 $ 186,500 Liabilities: Common stock warrants $ 1,710,229 $ — $ — 1,710,229 Total Liabilities $ 1,710,229 $ — $ — $ 1,710,229 The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2014 : Fair Value Measurements at December 31, 2014 Total Using Quoted Prices in Active Markets for Identical Assets (Level 1) Using Significant Other Unobservable Inputs (Level 2) Using Significant Unobservable Inputs (Level 3) Assets: Money market funds $ 36,474,066 $ 36,474,066 $ — $ — Mutual funds 29,273,635 — 29,273,635 — US corporate debt securities 23,802,339 — 23,802,339 — Investment in affiliated entity 12,340,811 12,340,811 — — Common stock warrants 550,000 — — 550,000 Total Assets $ 102,440,851 $ 48,814,877 $ 53,075,974 $ 550,000 Liabilities: Common stock warrants $ 2,022,729 $ — $ — $ 2,022,729 Total Liabilities $ 2,022,729 $ — $ — $ 2,022,729 Level 1 assets include money market funds held by the Company that are valued at quoted market prices, as well as the Company’s investment in GeneOne, for which the fair value is based on the market value of 1,644,155 common shares on June 30, 2015 and December 31, 2014 , listed on the Korean Stock Exchange. The Company accounts for its investment at fair value on a recurring basis. Level 2 assets at June 30, 2015 include US corporate debt securities, mutual funds and municipal bonds held by the Company that are initially valued at the transaction price and subsequently valued, at the end of each reporting period, typically utilizing market observable data. The Company obtains the fair value of its Level 2 assets from a professional pricing service, which may use quoted market prices for identical or comparable instruments, or inputs other than quoted prices that are observable either directly or indirectly. The professional pricing service gathers quoted market prices and observable inputs from a variety of industry data providers. The valuation techniques used to measure the fair value of the Company's Level 2 financial instruments were derived from non-binding market consensus prices that are corroborated by observable market data, quoted market prices for similar instruments, or pricing models such as discounted cash flow techniques. The Company validates the quoted market prices provided by the primary pricing service by comparing their assessment of the fair values of the Company's investment portfolio balance against the fair values of the Company's investment portfolio balance obtained from an independent source. Level 3 assets at June 30, 2015 include two warrants received by the Company to purchase shares of common stock of OncoSec Medical Incorporated (“OncoSec”), in connection with the first and second amendments to the Asset Purchase Agreement between the Company and OncoSec signed in September 2011 and March 2012, respectively. The first warrant to purchase 50,000 shares of common stock of OncoSec has a contractual life of five years with an exercise price of $24.00 per share. The second warrant to purchase 150,000 shares of common stock of OncoSec has a contractual life of five years with an exercise price of $20.00 per share. As of June 30, 2015 the Company has a long-term asset of $187,000 associated with the warrants received to purchase common stock of OncoSec. The Company reassesses the fair value of the warrants at each reporting date utilizing a Black-Scholes pricing model. Inputs used in the pricing model include estimates of OncoSec stock price volatility, expected warrant life and risk-free interest rate. The Company develops its estimates based on publicly available historical data and knowledge of OncoSec. The Company reassesses the fair value of the warrants at each reporting date. The assumptions used to estimate the fair values of the OncoSec common stock warrants at June 30, 2015 are presented below: Risk-free interest rate 0.28-0.64% Expected volatility 90% Expected life in years 1.25-1.75 Dividend yield — As a result of these calculations, the Company recorded a decrease in fair value of the two warrants of $73,000 and $364,000 for the three and six months ended June 30, 2015 , respectively, and a (decrease) increase in fair value of the two warrants of $(529,000) and $164,000 for the three and six months ended June 30, 2014, respectively. The change in fair value is reflected in the Company's condensed consolidated statements of operations as a component of change in fair value of common stock warrants. The following table presents a summary of changes in fair value of the Company’s total Level 3 financial assets for the six months ended June 30, 2015 : Balance at January 1, 2015 $ 550,000 Decrease in fair value included in change in fair value of common stock warrants (363,500 ) Balance at June 30, 2015 $ 186,500 Level 3 liabilities held as of June 30, 2015 consist of common stock warrant liabilities associated with warrants to purchase the Company's common stock issued in March 2013. If unexercised, the warrants will expire in September 2018 . During the three and six months ended June 30, 2015, no warrants were exercised. During the three and six months ended June 30, 2014, warrants to purchase 170,455 and 2,071,475 shares of common stock were exercised, respectively. As of June 30, 2015 the Company has a $1.7 million common stock warrant liability. The Company reassesses the fair value of the common stock warrants at each reporting date utilizing a Black-Scholes pricing model. Inputs used in the pricing model include estimates of stock price volatility, expected warrant life and risk-free interest rate. The Company develops its estimates based on historical data. The assumptions used to estimate the fair value of common stock warrants at June 30, 2015 are presented below: Risk-free interest rate 1.01% Expected volatility 81% Expected life in years 3.25 Dividend yield — Changes in these assumptions as well as in the Company's stock price on the valuation date can have a significant impact on the fair value of the common stock warrant liability. As a result of these calculations, the Company recorded a decrease in fair value of $23,000 and $313,000 for the three and six months ended June 30, 2015 , respectively, and a decrease in fair value of $1.4 million and $155,000 for the three and six months ended June 30, 2014 , respectively. The change in fair value is reflected in the Company's condensed consolidated statements of operations as a component of change in fair value of common stock warrants. Warrants that were exercised during the period were revalued on the day prior to exercise and then reclassified into stockholders' equity upon exercise. The following table presents the changes in fair value of the Company’s total Level 3 financial liabilities for the six months ended June 30, 2015 : Balance at January 1, 2015 $ 2,022,729 Decrease in fair value included in change in fair value of common stock warrants (312,500 ) Balance at June 30, 2015 $ 1,710,229

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The following sets forth the goodwill and intangible assets by major asset class: June 30, 2015 December 31, 2014 Useful Life (Yrs) Gross Accumulated Amortization Net Book Value Gross Accumulated Amortization Net Book Value Non-Amortizing: Goodwill(a) $ 10,113,371 $ — $ 10,113,371 $ 10,113,371 $ — $ 10,113,371 Amortizing: Patents 8 – 17 5,802,528 (5,444,794 ) 357,734 5,802,528 (5,358,433 ) 444,095 Licenses 8 – 17 1,323,761 (1,118,739 ) 205,022 1,323,761 (1,104,366 ) 219,395 CELLECTRA ® (b) 5 – 11 8,106,270 (6,184,406 ) 1,921,864 8,106,270 (5,970,866 ) 2,135,404 GHRH(b) 11 335,314 (192,740 ) 142,574 335,314 (176,899 ) 158,415 Other(c) 18 4,050,000 (2,343,750 ) 1,706,250 4,050,000 (2,231,250 ) 1,818,750 Total intangible assets 19,617,873 (15,284,429 ) 4,333,444 19,617,873 (14,841,814 ) 4,776,059 Total goodwill and intangible assets $ 29,731,244 $ (15,284,429 ) $ 14,446,815 $ 29,731,244 $ (14,841,814 ) $ 14,889,430 (a) Goodwill was recorded from the Inovio AS acquisition in January 2005 and from the acquisition of VGX in June 2009 for $3.9 million and $6.2 million , respectively. (b) CELLECTRA ® and GHRH are developed technologies which were recorded from the acquisition of VGX. (c) Other intangible assets represent the fair value of acquired intellectual property from the Inovio AS acquisition. Aggregate amortization expense on intangible assets for the three and six months ended June 30, 2015 was $219,000 and $443,000 , respectively. Aggregate amortization expense on intangible assets for the three and six months ended June 30, 2014 was $238,000 and $477,000 , respectively. Estimated aggregate amortization expense for each of the five succeeding fiscal years is $ 427,000 for the remainder of fiscal year 2015, $816,000 for 2016, $ 775,000 for 2017, $ 773,000 for 2018, $ 773,000 for 2019 and $ 769,000 for 2020 and the years thereafter.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity The following is a summary of the Company's authorized and issued common and preferred stock as of June 30, 2015 and December 31, 2014 : Outstanding as of Authorized Issued June 30, December 31, 2014 Common Stock, par $0.001 600,000,000 71,810,186 71,810,186 60,741,082 Series A Preferred Stock, par $0.001 1,000 817 — — Series B Preferred Stock, par $0.001 1,000 750 — — Series C Preferred Stock, par $0.001 1,091 1,091 23 23 Series D Preferred Stock, par $0.001 1,966,292 1,966,292 — — Common Stock On May 5, 2015, the Company closed an underwritten public offering of 10,925,000 shares of the Company's common stock, including 1,425,000 shares of common stock issued pursuant to the underwriter’s exercise of its overallotment option, at the public offering price of $8.00 per share. The net proceeds, after deducting the underwriter’s discounts and commission and other estimated offering expenses, were approximately $ 81.9 million. In March 2014, the Company closed an underwritten public offering of 5,452,725 shares of the Company’s common stock, including 711,225 shares of common stock issued pursuant to the underwriter’s exercise of its overallotment option, at the public offering price of $11.60 per share. The net proceeds, after deducting the underwriter’s discounts and commission and other estimated offering expenses, were approximately $59.2 million . In March 2013, the Company completed an underwritten offering of 6,844,317 shares of common stock and warrants to purchase an aggregate of up to 3,422,158 shares of common stock. The shares and warrants were sold in units at a price of $2.20 per unit, with each unit consisting of one share of common stock and a warrant to purchase 0.50 share of common stock at an exercise price of $3.1744 per share. The warrants have a term of 5.5 years . The net proceeds, after deducting the underwriters' discounts and other offering expenses, were approximately $14.0 million . The Company valued the registered warrants issued in connection with the March 2013 financing as of the issuance date using the Black Scholes pricing model and recorded a current liability on the condensed consolidated balance sheet. As of June 30, 2015 , 3,138,067 of these warrants had been exercised. The Company accounts for registered common stock warrants issued in March 2013 under the authoritative guidance on accounting for derivative financial instruments indexed to, and potentially settled in, a company’s own stock, on the understanding that in compliance with applicable securities laws, the registered warrants require the issuance of registered securities upon exercise and do not sufficiently preclude an implied right to net cash settlement. The Company classifies registered warrants on the condensed consolidated balance sheet as a current liability which is revalued at each balance sheet date subsequent to the initial issuance. Determining the appropriate fair-value model and calculating the fair value of registered warrants requires considerable judgment, including estimating stock price volatility and expected warrant life. The Company develops its estimates based on historical data. A small change in the estimates used may have a relatively large change in the estimated valuation. The Company uses the Black-Scholes pricing model to value the registered warrants. Changes in the fair market value of the warrants are reflected in the condensed consolidated statement of operations as “Change in fair value of common stock warrants.” Warrants The following table summarizes the warrants outstanding as of June 30, 2015 and December 31, 2014: As of June 30, 2015 As of December 31, 2014 Issued in Connection With: Exercise Price Expiration Date Number of Warrants Common Stock Warrant Liability Number of Warrants Common Stock Warrant Liability March 2013 financing $ 3.17 September 12, 2018 284,091 $ 1,710,229 284,091 $ 2,022,729 Warrants assumed in June 2009 Merger $4.08-$5.08 August 1, 2015- April 28, 2016 627,969 — 727,969 — Total 912,060 $ 1,710,229 1,012,060 $ 2,022,729 Stock Options The Company has one active stock-based incentive plan, the Amended and Restated 2007 Omnibus Incentive Plan (the “Incentive Plan”), pursuant to which the Company has granted stock options and restricted stock awards to executive officers, directors and employees. The Incentive Plan was adopted on March 31, 2007, approved by the stockholders on May 4, 2007, approved by the stockholders as amended on May 2, 2008, and approved by the stockholders as amended and restated on August 25, 2009, May 14, 2010, May 22, 2014 and May 8, 2015. On May 14, 2010 the stockholders approved to increase the aggregate number of shares available for grant under the Incentive Plan by 500,000 and to provide that the aggregate number of shares available for grant under the Incentive Plan will be increased on January 1 of each year beginning in 2011 by a number of shares equal to the lesser of 513,833 or such lesser number of shares as may be determined by the Board. On May 22, 2014 and May 8, 2015, the stockholders approved to increase the aggregate number of shares available for grant under the Incentive Plan by 1,250,000 and 2,000,000 , respectively. At June 30, 2015 , there were 7,256,664 shares of common stock reserved for issuance upon exercise of incentive awards granted and to be granted at future dates under the Incentive Plan. At June 30, 2015 , the Company had 2,006,974 shares of common stock available for future grant under the Incentive Plan, 230,000 shares of unvested restricted stock units and options to purchase 4,494,266 shares of common stock outstanding under the Incentive Plan. The awards granted and available for future grant under the Incentive Plan generally vest over three years and have a maximum contractual term of ten years. The Incentive Plan terminates by its terms on March 31, 2017. The Incentive Plan supersedes all of the Company’s previous stock option plans, which include the Amended 2000 Stock Option Plan and the VGX Equity Compensation Plan, under which the Company had options to purchase 148,878 and 1,344,066 shares of common stock outstanding at June 30, 2015 , respectively. The terms and conditions of the options outstanding under these plans remain unchanged.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Net Loss Per share	Net Loss Per Share Basic net loss per share is computed by dividing the net loss for the year by the weighted average number of common shares outstanding during the year. Diluted loss per share is calculated in accordance with the treasury stock method and reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted to common stock. The calculation of diluted loss per share requires that, to the extent the average market price of the underlying shares for the reporting period exceeds the exercise price of the warrants and the presumed exercise of such securities are dilutive to loss per share for the period, an adjustment to net loss used in the calculation is required to remove the change in fair value of the warrants from the numerator for the period. Likewise, an adjustment to the denominator is required to reflect the related dilutive shares, if any, under the treasury stock method. The following tables reconcile the components of the numerator and denominator included in the calculations of diluted loss per share: Three Months Ended June 30, 2015 2014 Numerator Net loss attributable to Inovio Pharmaceuticals, Inc. $ (6,248,250 ) $ (10,711,274 ) Reflect adjustment for decrease in fair value of warrant liability (22,727 ) (873,389 ) Numerator for use in diluted loss per share $ (6,270,977 ) $ (11,584,663 ) Denominator Weighted average number of common shares outstanding 67,655,975 60,232,498 Effect of dilutive potential common shares from warrants 182,763 242,361 Denominator for use in diluted loss per share 67,838,738 60,474,859 Net loss per share, diluted $ (0.09 ) $ (0.19 ) Six Months Ended June 30, 2015 2014 Numerator Net loss attributable to Inovio Pharmaceuticals, Inc. $ (16,830,029 ) $ (21,532,734 ) Reflect adjustment for decrease in fair value of warrant liability (312,500 ) (615,684 ) Numerator for use in diluted loss per share $ (17,142,529 ) $ (22,148,418 ) Denominator Weighted average number of common shares outstanding 64,198,528 57,722,938 Effect of dilutive potential common shares from warrants 177,995 253,517 Denominator for use in diluted loss per share 64,376,523 57,976,455 Net loss per share, diluted $ (0.27 ) $ (0.38 ) The following table summarizes potential common shares that were excluded from the diluted net loss per share calculation because of their anti-dilutive effect: As of June 30, Common Stock Equivalents 2015 2014 Options to purchase common stock 5,987,210 4,943,567 Warrants to purchase common stock 627,969 1,085,386 Restricted stock units 230,000 — Convertible preferred stock 8,456 8,456 Total 6,853,635 6,037,409

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company incurs stock-based compensation expense related to restricted stock units and stock options. The fair value of restricted stock is determined by the closing market price of the Company's common stock on the date of grant. The Company estimates the fair value of stock options granted using the Black-Scholes option pricing model. The Black-Scholes option pricing model was developed for use in estimating the fair value of traded options, which have no vesting restrictions and are fully transferable. In addition, option valuation models require the input of highly subjective assumptions, including the expected stock price volatility and expected option life. The Company amortizes the fair value of the awards expected to vest on a straight-line basis over the requisite service period of the awards. Expected volatility is based on historical volatility. The expected life of options granted is based on historical expected life. The risk-free interest rate is based on the U.S. Treasury yield in effect at the time of grant. The forfeiture rate is based on historical data, and the Company records stock-based compensation expense only for those awards that are expected to vest. The dividend yield is based on the fact that no dividends have been paid historically and none are currently expected to be paid in the foreseeable future. The weighted average assumptions used in the Black-Scholes model for employees and directors are presented below: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Risk-free interest rate 1.00% 1.68% 0.99% 1.52% Expected volatility 75% 110% 74% 111% Expected life in years 5.0 5.1 5.0 5.1 Dividend yield — — — — Forfeiture rate 7% 8% 8% 8% Total employee and director compensation cost for the Company's stock plan recognized in the condensed consolidated statement of operations for the three and six months ended June 30, 2015 was $ 1.3 million and $ 3.5 million , respectively, of which $ 649,000 and $ 2.0 million were included in research and development expenses and $ 612,000 and $ 1.5 million were included in general and administrative expenses, respectively. Total employee and director compensation cost for the Company's stock plan recognized in the condensed consolidated statement of operations for the three and six months ended June 30, 2014 was $1.2 million and $3.3 million , respectively, of which $614,000 and $2.0 million were included in research and development expenses and $551,000 and $1.3 million were included in general and administrative expenses, respectively. At June 30, 2015 , there was $7.3 million of total unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted-average period of 2.2 years . The weighted average grant date fair value per share was $5.02 and $ 4.62 for employee and director stock options granted during the three and six months ended June 30, 2015 , respectively, and $7.33 and $9.33 for employee and director stock options granted during the three and six months ended June 30, 2014 , respectively. At June 30, 2015 , there was $1.6 million of total unrecognized compensation cost related to unvested restricted stock units, which is expected to be recognized over a weighted-average period of 2.5 years . The weighted average grant date fair value was $8.01 and $ 7.76 per share for employee restricted stock units granted during the three and six months ended June 30, 2015 , respectively. There were no restricted stock units granted during the three and six months ended June 30, 2014 . The fair value of options granted to non-employees at the measurement dates were estimated using the Black-Scholes pricing model. Total stock-based compensation for options granted to non-employees for the three and six months ended June 30, 2015 was $101,000 and $270,000 , respectively. Total stock-based compensation for options granted to non-employees for the three and six months ended June 30, 2014 was $69,000 and $459,000 , respectively.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transaction, Due from (to) Related Party [Abstract]
Related Party Transactions	Related Party Transactions GeneOne Life Sciences On May 26, 2015, the Company entered into a Collaborative Development Agreement with GeneOne to co-develop a DNA vaccine for MERS (Middle East Respiratory Syndrome) through phase I clinical trials. On September 23, 2014, the Company entered into a Collaborative Development Agreement with GeneOne to co-develop an Ebola vaccine through phase I clinical trials. In July 2015, the Company amended the Agreement with an effective date of April 2015 to change control of development in return for the Company’s payment of certain development fees. On October 7, 2011, the Company entered into a Collaborative Development and License Agreement (the “Hep Agreement”) with GeneOne. Under the Hep Agreement, as originally executed, the Company and GeneOne agreed to co-develop the Company’s SynCon ® therapeutic vaccines for hepatitis B and C infections (the “Products”). Under the terms of the Hep Agreement, GeneOne will receive marketing rights for the Products in Asia, excluding Japan, and in return will fully fund IND-enabling and initial Phase I and II clinical studies with respect to the Products. The Company will receive from GeneOne payments based on the achievement of clinical milestones and royalties based on sales of the Products in the licensed territories, retaining all commercial rights to the Products in all other territories. On August 21, 2013, the Company amended the Hep Agreement to grant back to the Company hepatitis B, along with all associated rights, from the collaboration in return for certain remuneration including a percentage of license fees. On October 7, 2013, the Company further amended the Hep Agreement to in part provide exclusive patent rights to IL-28 technology for use with the Products in Asia, excluding Japan. On March 24, 2010, the Company entered into a Collaboration and License Agreement (the “GeneOne Agreement”) with GeneOne. Under the GeneOne Agreement, the Company granted GeneOne an exclusive license to Inovio’s SynCon ® universal influenza vaccine delivered with electroporation to be developed in certain countries in Asia (the “Product”). As consideration for the license granted to GeneOne, the Company received payment of $3.0 million , and will receive research support, annual license maintenance fees and royalties on net Product sales. The Company recorded the $3.0 million as deferred revenue from affiliated entity, and will recognize it as revenue over the eight year expected period of the Company’s performance obligation. In addition, contingent upon achievement of clinical and regulatory milestones, the Company will receive development payments over the term of the GeneOne Agreement. The GeneOne Agreement also provides Inovio with exclusive rights to supply devices for clinical and commercial purposes (including single use components) to GeneOne for use in the Product. The term of the GeneOne Agreement commenced upon execution and will extend on a country by country basis until the last to expire of all Royalty Periods for the territory (as such term is defined in the GeneOne Agreement) for any Product in that country, unless the GeneOne Agreement is terminated earlier in accordance with its provisions as a result of breach, by mutual agreement, or by GeneOne's right to terminate without cause upon prior written notice. For the three and six months ended June 30, 2015 , the Company recognized revenue from GeneOne of $ 113,000 and $ 225,000 , respectively, which consisted of licensing and other fees. Operating expenses related to GeneOne for the three and six months ended June 30, 2015 include $ 5.3 million and $ 5.4 million , respectively, related to biologics manufacturing. For the three and six months ended June 30, 2014 , the Company recognized revenue from GeneOne of $138,000 and $254,000 , respectively, which consisted of licensing and other fees. Operating expenses related to GeneOne for the three and six months ended June 30, 2014 include $ 2.6 million and $ 3.7 million , respectively, related to biologics manufacturing. At June 30, 2015 and December 31, 2014 , the Company had an accounts receivable balance of $ 7,000 and $ 2,000 , respectively, and an accounts payable and accrued liability balance of $3.3 million and $28,000 , respectively, related to GeneOne and its subsidiaries. At June 30, 2015 and December 31, 2014 , $196,000 and $260,000 of prepayments made to GeneOne were classified as long-term other assets on the consolidated balance sheet, respectively. OncoSec Medical Incorporated The Company's non-executive Chairman, Dr. Avtar Dhillon, is also the non-executive Chairman of OncoSec. On September 28, 2011, the Company signed an amended agreement with OncoSec extending the term of the second payment owed to the Company in exchange for a warrant to purchase 50,000 shares of common stock of OncoSec. The warrant received was a five -year warrant with an exercise price of $24.00 per share. (See Note 6 for further discussion.) On March 24, 2012, the Company signed a second amended agreement with OncoSec further extending the term of the payments owed to the Company in exchange for a warrant to purchase 150,000 shares of common stock of OncoSec. The warrant received was a five -year warrant with an exercise price of $20.00 per share. (See Note 6 for further discussion.) Plumbline Life Sciences, Inc. In May 2014, the Company's 91% owned subsidiary VGX Animal Health entered into an agreement for the sale of its animal health assets to Plumbline Life Sciences, Inc. ("PLS") of Korea. The assets transferred included an exclusive license with Inovio for animal applications of its growth hormone-releasing hormone ("GHRH") technology and animal DNA vaccines plus a non-exclusive license to Inovio electroporation delivery systems. In May 2015, VGX Animal Health received payment of $1.0 million from PLS and is scheduled to receive an additional $1.0 million payment in the future. VGX Animal Health received 20% of the outstanding shares of PLS and will receive additional shares to maintain its 20% equity ownership position in PLS in the event of additional equity fund-raising by PLS up to $10.0 million . No receivable has been recorded for the $1.0 million due from PLS as collection is uncertain. The Company accounts for its ownership interest in PLS using the equity method of accounting. The total carrying value of the Company's investment in PLS was $0 as of June 30, 2015. On July 28, 2015, PLS completed an initial public offering (IPO) on the Korea New Exchange (KONEX) Market.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In March 2014, the Company entered into an office lease (the "Lease") with a publicly owned real estate investment trust, located in Plymouth Meeting, Pennsylvania. The Company occupied the new space in June 2014, however the previous facility was not completely vacated as of June 30, 2015, therefore no cease-use accrual has been recorded. The initial term of the Lease is 11.5 years. The Company plans to use the facility for office purposes. The base rent adjusts periodically throughout the 11.5 year term of the Lease, with monthly payments ranging from $0 to $58,000 . In addition, the Company will pay the landlord its share of operating expenses and a property management fee and has paid a security deposit of $49,000 . The Company has capitalized $933,000 of tenant improvements within fixed assets on the condensed consolidated balance sheet and has recorded a corresponding increase to deferred rent. In June 2015, the Company amended the lease for its corporate office in San Diego, California to increase the total leased space and occupy the entire building. The amendment requires the lessor to complete and pay for certain improvements to the additional space before the commencement of the amended lease which is estimated to be in the fourth quarter of 2015. The amended lease will increase monthly lease payments by approximately $13,000 . The Company's future minimum lease payments under all non-cancelable operating leases as of June 30, 2015 are as follows: Remainder of 2015 $ 387,000 2016 1,510,000 2017 1,490,000 2018 1,457,000 2019 1,682,000 2020 1,726,000 Thereafter 6,739,000 Total $ 14,991,000 In the normal course of business, the Company is a party to a variety of agreements pursuant to which they may be obligated to indemnify the other party. It is not possible to predict the maximum potential amount of future payments under these types of agreements due to the conditional nature of our obligations and the unique facts and circumstances involved in each particular agreement. Historically, payments made by us under these types of agreements have not had a material effect on our business, consolidated results of operations or financial condition.

Collaborative Agreements

Collaborative Agreements	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Collaborative Agreements	Collaborative Agreements In September 2013, the Company entered into a Collaborative, License, and Option Agreement (the “Agreement”) with Roche. The companies agreed to co-develop multi-antigen DNA immunotherapies targeting prostate cancer and hepatitis B (the “Products”). On November 14, 2014, Roche provided notice that they would be partially terminating the Agreement with respect to the development of INO-5150, the Company’s DNA immunotherapy targeting prostate cancer, as well as the research collaboration in prostate cancer under the Agreement. The termination was effective in February 2015, 90 days after the date of notice. All of Roche’s rights to INO-5150, including the right to license the product to other parties, have been returned to the Company. The Company and Roche will continue to collaborate and co-develop the Company’s DNA immunotherapy (INO-1800) against hepatitis B virus under the existing Agreement. Under the original agreement, Roche acquired an exclusive worldwide license for the Company's DNA-based vaccines INO-5150 (targeting prostate cancer) and INO-1800 (targeting hepatitis B) as well as the use of the Company's CELLECTRA ® electroporation technology for delivery of the vaccines. Roche also obtained an option to license additional vaccines in connection with a collaborative research program in prostate cancer. Under the terms of the agreement, Roche made an upfront payment of $10 million and agreed to make additional development, regulatory and commercial event based payments. These potential future event based payments have been reduced significantly due to the partial termination of the Agreement. The Company has assessed event based payments under the revised authoritative guidance for research and development milestones and determined that $3.0 million related to INO-1800 represents a milestone under the milestone method of accounting. The Company is entitled to receive up to mid-single to double-digit tiered royalties on product sales. Unless terminated earlier in accordance with its terms, the Agreement continues in effect until the date when no royalty or other payment obligations under the Agreement are or will become due, i.e., a royalty term ending on the later of the date that is (a) ten years after the date of the first commercial sale of the product that is subject to the agreement or (b) the expiration of the last to expire of the patent rights that are subject to the agreement. Under the terms of the agreement the Company also agreed to perform research and development services, which include preclinical and clinical costs, and manufacturing and supply services, at Roche's expense. The Company identified the deliverables at the inception of the agreement. The Company has determined that the license to INO-5150 and INO-1800, the option right to license additional vaccines, research and development services, manufacturing and drug supply, and participation in the joint steering committee individually represent separate units of accounting because each deliverable has standalone value. The Company considered the provisions of the multiple-element arrangement guidance in determining whether the deliverables outlined above have standalone value and thus should be treated as separate units of accounting. The Company determined that the licenses and option right to license additional vaccines have standalone value and represent separate units of accounting because the rights conveyed permit Roche to perform all efforts necessary to complete development, commercialize and begin selling the product upon regulatory approval. In addition, Roche has the appropriate development, regulatory and commercial expertise with products similar to the product licensed under the agreement and has the ability to engage third parties to manufacture the product allowing Roche to realize the value of the license without receiving any of the remaining deliverables. Roche can also sublicense its license rights to third parties. Also, the Company determined that the research services, committee participation and manufacturing services each represent individual units of accounting as Roche could perform such services and/or could acquire these on a separate basis. The best estimated selling prices for these units of accounting were determined based on market conditions, the terms of comparable collaborative agreements for similar technology in the pharmaceutical and biotechnology industry, the Company's pricing practices and pricing objectives and the nature of the research and development services to be provided. While market data and the cost-to-recreate method under the cost approach were considered throughout the valuation process, ultimately, the selling prices of the licenses and option right were determined utilizing two forms of the relief from royalty method under the income approach. The arrangement consideration was allocated to the deliverables based on the relative selling price method. The amount allocable to the delivered unit or units of accounting is limited to the amount that is considered fixed and determinable and is not contingent upon the delivery of additional items or meeting other specified performance conditions. Based on the results of the Company's analysis, the $10 million up-front payment was allocated as follows: $5.0 million and $3.4 million to the license to INO-5150 and INO-1800, respectively, $1.5 million to the option right and $155,000 to the joint steering committee obligation. The amounts allocated to the licenses for INO-5150 and INO-1800 were recognized as revenue under collaborative research and development arrangements during the year ended December 31, 2013 as these were determined to be earned upon the granting of the license and delivery of the related knowledge and data. Due to the Company's continuing involvement obligations, the remaining amounts were classified as deferred revenue as of December 31, 2013. The Company will recognize revenues associated with research and development services and manufacturing and drug supply as revenues under collaborative arrangements as the related services are performed and according to the relative selling price method of the allocable arrangement consideration. During the three and six months ended June 30, 2015 , the Company recognized revenues of $ 4.3 million and $8.6 million from Roche, respectively, of which $3.0 million related to a milestone earned during the period. Of the six month period revenues, $3.0 million related to previously deferred revenue which was recognized based on the partial termination of the Agreement in February 2015. As of June 30, 2015 , the Company has a deferred revenue and accounts receivable balance of $322,000 and $4.6 million , respectively, related to the Agreement.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On August 7, 2015, The Company entered into a license and collaboration agreement with MedImmune, the global biologics research and development arm of AstraZeneca. Under the agreement, MedImmune will acquire exclusive rights to the Company's INO-3112 immunotherapy, which targets cancers caused by human papillomavirus (HPV) types 16 and 18. Under the terms of the agreement, MedImmune will make an upfront payment of $27.5 million to the Company as well as potential future payments upon reaching development and commercial milestones totaling up to $700 million . MedImmune will fund all development costs. The Company is entitled to receive up to double-digit tiered royalties on INO-3112 product sales. Within the broader collaboration, the Company and MedImunne will develop up to two additional DNA-based cancer vaccine products not included in the Company's current product pipeline, which MedImmune will have the exclusive rights to develop and commercialize. The Company will receive development, regulatory and commercialization milestone payments and will be eligible to receive royalties on worldwide net sales for these additional cancer vaccine products. Subsequent to June 30, 2015, warrants to purchase 306,625 shares of common stock were exercised for total proceeds to the Company of $1.6 million .

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements of Inovio have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The condensed consolidated balance sheet as of June 30, 2015 , condensed consolidated statements of operations for the three and six months ended June 30, 2015 and 2014 , condensed consolidated statements of comprehensive loss for the three and six months ended June 30, 2015 and 2014 and the condensed consolidated statements of cash flows for the six months ended June 30, 2015 and 2014 , are unaudited, but include all adjustments (consisting of normal recurring adjustments) that the Company considers necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented. The results of operations for the three and six months ended June 30, 2015 shown herein are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 , or for any other period. These financial statements, and notes thereto, should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2014 , included in the Company's Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on March 13, 2015. The balance sheet at December 31, 2014 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The Company has evaluated subsequent events after the balance sheet date of June 30, 2015 through the date it filed these unaudited condensed consolidated financial statements with the SEC. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Summary of investments	The following is a summary of short-term investments as of June 30, 2015 and December 31, 2014 : As of June 30, 2015 Contractual Maturity (in years) Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Mutual funds --- $ 58,532,030 $ — $ (296,239 ) $ 58,235,791 US corporate debt securities Less than 2 25,983,647 4,085 (31,741 ) 25,955,991 Municipal bonds Less than 1 104,336 — (297 ) 104,039 Total investments $ 84,620,013 $ 4,085 $ (328,277 ) $ 84,295,821 As of December 31, 2014 Contractual Maturity (in years) Cost Gross Unrealized Gains Gross Unrealized Losses Fair Market Value Mutual funds --- $ 29,487,758 $ 2,667 $ (216,790 ) $ 29,273,635 US corporate debt securities Less than 2 23,839,606 70 (37,337 ) 23,802,339 Total investments $ 53,327,364 $ 2,737 $ (254,127 ) $ 53,075,974

Marketable Securities and Fai22

Marketable Securities and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets and liabilities measured at fair value on a recurring basis	The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2015 : Fair Value Measurements at June 30, 2015 Total Using Quoted Prices in Active Markets for Identical Assets (Level 1) Using Significant Other Unobservable Inputs (Level 2) Using Significant Unobservable Inputs (Level 3) Assets: Money market funds $ 66,460,760 $ 66,460,760 $ — $ — Mutual funds 58,235,791 — 58,235,791 — US corporate debt securities 25,955,991 — 25,955,991 — Municipal bonds 104,039 — 104,039 — Investment in affiliated entity 18,849,647 18,849,647 — — Common stock warrants 186,500 — — 186,500 Total Assets $ 169,792,728 $ 85,310,407 $ 84,295,821 $ 186,500 Liabilities: Common stock warrants $ 1,710,229 $ — $ — 1,710,229 Total Liabilities $ 1,710,229 $ — $ — $ 1,710,229 The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2014 : Fair Value Measurements at December 31, 2014 Total Using Quoted Prices in Active Markets for Identical Assets (Level 1) Using Significant Other Unobservable Inputs (Level 2) Using Significant Unobservable Inputs (Level 3) Assets: Money market funds $ 36,474,066 $ 36,474,066 $ — $ — Mutual funds 29,273,635 — 29,273,635 — US corporate debt securities 23,802,339 — 23,802,339 — Investment in affiliated entity 12,340,811 12,340,811 — — Common stock warrants 550,000 — — 550,000 Total Assets $ 102,440,851 $ 48,814,877 $ 53,075,974 $ 550,000 Liabilities: Common stock warrants $ 2,022,729 $ — $ — $ 2,022,729 Total Liabilities $ 2,022,729 $ — $ — $ 2,022,729
Assumptions used to estimate the fair values of the common stock warrants	The assumptions used to estimate the fair value of common stock warrants at June 30, 2015 are presented below: Risk-free interest rate 1.01% Expected volatility 81% Expected life in years 3.25 Dividend yield —
Change in fair value of the financial assets	The following table presents a summary of changes in fair value of the Company’s total Level 3 financial assets for the six months ended June 30, 2015 : Balance at January 1, 2015 $ 550,000 Decrease in fair value included in change in fair value of common stock warrants (363,500 ) Balance at June 30, 2015 $ 186,500
Changes in fair value of the financial liabilities	The following table presents the changes in fair value of the Company’s total Level 3 financial liabilities for the six months ended June 30, 2015 : Balance at January 1, 2015 $ 2,022,729 Decrease in fair value included in change in fair value of common stock warrants (312,500 ) Balance at June 30, 2015 $ 1,710,229
OncoSec [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assumptions used to estimate the fair values of the common stock warrants	The assumptions used to estimate the fair values of the OncoSec common stock warrants at June 30, 2015 are presented below: Risk-free interest rate 0.28-0.64% Expected volatility 90% Expected life in years 1.25-1.75 Dividend yield —

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of intangible assets by major asset class	The following sets forth the goodwill and intangible assets by major asset class: June 30, 2015 December 31, 2014 Useful Life (Yrs) Gross Accumulated Amortization Net Book Value Gross Accumulated Amortization Net Book Value Non-Amortizing: Goodwill(a) $ 10,113,371 $ — $ 10,113,371 $ 10,113,371 $ — $ 10,113,371 Amortizing: Patents 8 – 17 5,802,528 (5,444,794 ) 357,734 5,802,528 (5,358,433 ) 444,095 Licenses 8 – 17 1,323,761 (1,118,739 ) 205,022 1,323,761 (1,104,366 ) 219,395 CELLECTRA ® (b) 5 – 11 8,106,270 (6,184,406 ) 1,921,864 8,106,270 (5,970,866 ) 2,135,404 GHRH(b) 11 335,314 (192,740 ) 142,574 335,314 (176,899 ) 158,415 Other(c) 18 4,050,000 (2,343,750 ) 1,706,250 4,050,000 (2,231,250 ) 1,818,750 Total intangible assets 19,617,873 (15,284,429 ) 4,333,444 19,617,873 (14,841,814 ) 4,776,059 Total goodwill and intangible assets $ 29,731,244 $ (15,284,429 ) $ 14,446,815 $ 29,731,244 $ (14,841,814 ) $ 14,889,430 (a) Goodwill was recorded from the Inovio AS acquisition in January 2005 and from the acquisition of VGX in June 2009 for $3.9 million and $6.2 million , respectively. (b) CELLECTRA ® and GHRH are developed technologies which were recorded from the acquisition of VGX. (c) Other intangible assets represent the fair value of acquired intellectual property from the Inovio AS acquisition.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Summary of preferred stock authorized, issued and outstanding	The following is a summary of the Company's authorized and issued common and preferred stock as of June 30, 2015 and December 31, 2014 : Outstanding as of Authorized Issued June 30, December 31, 2014 Common Stock, par $0.001 600,000,000 71,810,186 71,810,186 60,741,082 Series A Preferred Stock, par $0.001 1,000 817 — — Series B Preferred Stock, par $0.001 1,000 750 — — Series C Preferred Stock, par $0.001 1,091 1,091 23 23 Series D Preferred Stock, par $0.001 1,966,292 1,966,292 — —
Summary of warrants outstanding	The following table summarizes the warrants outstanding as of June 30, 2015 and December 31, 2014: As of June 30, 2015 As of December 31, 2014 Issued in Connection With: Exercise Price Expiration Date Number of Warrants Common Stock Warrant Liability Number of Warrants Common Stock Warrant Liability March 2013 financing $ 3.17 September 12, 2018 284,091 $ 1,710,229 284,091 $ 2,022,729 Warrants assumed in June 2009 Merger $4.08-$5.08 August 1, 2015- April 28, 2016 627,969 — 727,969 — Total 912,060 $ 1,710,229 1,012,060 $ 2,022,729

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following tables reconcile the components of the numerator and denominator included in the calculations of diluted loss per share: Three Months Ended June 30, 2015 2014 Numerator Net loss attributable to Inovio Pharmaceuticals, Inc. $ (6,248,250 ) $ (10,711,274 ) Reflect adjustment for decrease in fair value of warrant liability (22,727 ) (873,389 ) Numerator for use in diluted loss per share $ (6,270,977 ) $ (11,584,663 ) Denominator Weighted average number of common shares outstanding 67,655,975 60,232,498 Effect of dilutive potential common shares from warrants 182,763 242,361 Denominator for use in diluted loss per share 67,838,738 60,474,859 Net loss per share, diluted $ (0.09 ) $ (0.19 ) Six Months Ended June 30, 2015 2014 Numerator Net loss attributable to Inovio Pharmaceuticals, Inc. $ (16,830,029 ) $ (21,532,734 ) Reflect adjustment for decrease in fair value of warrant liability (312,500 ) (615,684 ) Numerator for use in diluted loss per share $ (17,142,529 ) $ (22,148,418 ) Denominator Weighted average number of common shares outstanding 64,198,528 57,722,938 Effect of dilutive potential common shares from warrants 177,995 253,517 Denominator for use in diluted loss per share 64,376,523 57,976,455 Net loss per share, diluted $ (0.27 ) $ (0.38 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes potential common shares that were excluded from the diluted net loss per share calculation because of their anti-dilutive effect: As of June 30, Common Stock Equivalents 2015 2014 Options to purchase common stock 5,987,210 4,943,567 Warrants to purchase common stock 627,969 1,085,386 Restricted stock units 230,000 — Convertible preferred stock 8,456 8,456 Total 6,853,635 6,037,409

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of weighted average assumptions	The weighted average assumptions used in the Black-Scholes model for employees and directors are presented below: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Risk-free interest rate 1.00% 1.68% 0.99% 1.52% Expected volatility 75% 110% 74% 111% Expected life in years 5.0 5.1 5.0 5.1 Dividend yield — — — — Forfeiture rate 7% 8% 8% 8%

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	The Company's future minimum lease payments under all non-cancelable operating leases as of June 30, 2015 are as follows: Remainder of 2015 $ 387,000 2016 1,510,000 2017 1,490,000 2018 1,457,000 2019 1,682,000 2020 1,726,000 Thereafter 6,739,000 Total $ 14,991,000

Principles of Consolidation (De

Principles of Consolidation (Details)	Jun. 30, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Noncontrolling interest, ownership percentage by noncontrolling owners	9.00%	9.00%

Investments (Details)

Investments (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Summary of investments
Cost	$ 84,620,013	$ 53,327,364
Gross Unrealized Gains	4,085	2,737
Gross Unrealized Losses	(328,277)	(254,127)
Fair Market Value	84,295,821	53,075,974
Mutual funds [Member]
Summary of investments
Cost	58,532,030	29,487,758
Gross Unrealized Gains	0	2,667
Gross Unrealized Losses	(296,239)	(216,790)
Fair Market Value	58,235,791	29,273,635
US corporate debt securities [Member]
Summary of investments
Cost	25,983,647	23,839,606
Gross Unrealized Gains	4,085	70
Gross Unrealized Losses	(31,741)	(37,337)
Fair Market Value	25,955,991	$ 23,802,339
Municipal bonds [Member]
Summary of investments
Cost	104,336
Gross Unrealized Gains	0
Gross Unrealized Losses	(297)
Fair Market Value	$ 104,039
Maximum [Member] | US corporate debt securities [Member]
Summary of investments
Contractual maturity, less than	2 years	2 years
Maximum [Member] | Municipal bonds [Member]
Summary of investments
Contractual maturity, less than	1 year

Investments (Details Textual)

Investments (Details Textual)	Jun. 30, 2015investment
Investments, Debt and Equity Securities [Abstract]
Number of securities in gross unrealized loss position	51
Number of securities in gross unrealized loss position for longer than 12 months	4

Marketable Securities and Fai31

Marketable Securities and Fair Value Measurements (Details) - Fair Value, Measurements, Recurring [Member] - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	$ 169,792,728	$ 102,440,851
Liabilities, fair value	1,710,229	2,022,729
Using Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	85,310,407	48,814,877
Liabilities, fair value	0	0
Using Significant Other Unobservable Inputs (Level 2) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	84,295,821	53,075,974
Liabilities, fair value	0	0
Using Significant Unobservable Inputs (Level 3) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	186,500	550,000
Liabilities, fair value	1,710,229	2,022,729
Money market funds [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	66,460,760	36,474,066
Money market funds [Member] | Using Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	66,460,760	36,474,066
Money market funds [Member] | Using Significant Other Unobservable Inputs (Level 2) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	0	0
Money market funds [Member] | Using Significant Unobservable Inputs (Level 3) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	0	0
Mutual funds [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	58,235,791	29,273,635
Mutual funds [Member] | Using Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	0	0
Mutual funds [Member] | Using Significant Other Unobservable Inputs (Level 2) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	58,235,791	29,273,635
Mutual funds [Member] | Using Significant Unobservable Inputs (Level 3) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	0	0
US corporate debt securities [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	25,955,991	23,802,339
US corporate debt securities [Member] | Using Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	0	0
US corporate debt securities [Member] | Using Significant Other Unobservable Inputs (Level 2) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	25,955,991	23,802,339
US corporate debt securities [Member] | Using Significant Unobservable Inputs (Level 3) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	0	0
Municipal Bonds [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	104,039
Municipal Bonds [Member] | Using Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	0
Municipal Bonds [Member] | Using Significant Other Unobservable Inputs (Level 2) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	104,039
Municipal Bonds [Member] | Using Significant Unobservable Inputs (Level 3) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	0
Investment in affiliated entity [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	18,849,647	12,340,811
Investment in affiliated entity [Member] | Using Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	18,849,647	12,340,811
Investment in affiliated entity [Member] | Using Significant Other Unobservable Inputs (Level 2) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	0	0
Investment in affiliated entity [Member] | Using Significant Unobservable Inputs (Level 3) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	0	0
Common stock warrants [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	186,500	550,000
Liabilities, fair value	1,710,229	2,022,729
Common stock warrants [Member] | Using Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	0	0
Liabilities, fair value	0	0
Common stock warrants [Member] | Using Significant Other Unobservable Inputs (Level 2) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	0	0
Liabilities, fair value	0	0
Common stock warrants [Member] | Using Significant Unobservable Inputs (Level 3) [Member]
Financial assets and liabilities that are measured at fair value on recurring basis
Assets, fair value	186,500	550,000
Liabilities, fair value	$ 1,710,229	$ 2,022,729

Marketable Securities and Fai32

Marketable Securities and Fair Value Measurements (Details 1) - 6 months ended Jun. 30, 2015 - $ / shares	Total
Assumptions used to estimate the fair values of the common stock warrants
Risk-free interest rate	1.01%
Expected volatility	81.00%
Expected life in years	3 years 3 months
Dividend yield	$ 0
OncoSec common stock warrants [Member]
Assumptions used to estimate the fair values of the common stock warrants
Expected volatility	90.00%
Dividend yield	$ 0
OncoSec common stock warrants [Member] | Minimum [Member]
Assumptions used to estimate the fair values of the common stock warrants
Risk-free interest rate	0.28%
Expected life in years	1 year 3 months
OncoSec common stock warrants [Member] | Maximum [Member]
Assumptions used to estimate the fair values of the common stock warrants
Risk-free interest rate	0.64%
Expected life in years	1 year 9 months

Marketable Securities and Fai33

Marketable Securities and Fair Value Measurements (Details 2) - Using Significant Unobservable Inputs (Level 3) [Member]	6 Months Ended
	Jun. 30, 2015USD ($)
Change in fair value of the financial assets
Balance at January 1, 2015	$ 550,000
Decrease in fair value included in change in fair value of common stock warrants	(363,500)
Balance at June 30, 2015	$ 186,500

Marketable Securities and Fai34

Marketable Securities and Fair Value Measurements (Details 3) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Decrease in fair value included in change in fair value of common stock warrants	$ 23,000	$ 1,400,000	$ (313,000)	$ 155,000
Using Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at January 1, 2015			2,022,729
Decrease in fair value included in change in fair value of common stock warrants			(312,500)
Balance at June 30, 2015	$ 1,710,229		$ 1,710,229

Marketable Securities and Fai35

Marketable Securities and Fair Value Measurements (Details Textual)	1 Months Ended		3 Months Ended		6 Months Ended
	Mar. 31, 2012$ / sharesshares	Sep. 30, 2011$ / sharesshares	Jun. 30, 2015USD ($)warrantshares	Jun. 30, 2014USD ($)shares	Jun. 30, 2015USD ($)warrantshares	Jun. 30, 2014USD ($)shares	Dec. 31, 2014USD ($)shares
Marketable Securities and Fair Value Measurements (Textual) [Abstract]
Long-term asset associated with warrants			$ 187,000		$ 187,000
Decrease in fair value included in change in fair value of common stock warrants			$ 23,000	$ 1,400,000	$ (313,000)	$ 155,000
Number of common stock issued related to warrants exercised (shares) | shares			0	170,455	0	2,071,475
Common stock warrants			$ 1,710,229		$ 1,710,229		$ 2,022,729
Onco Sec Common Stock Warrants [Member]
Marketable Securities and Fair Value Measurements (Textual) [Abstract]
Decrease in fair value included in change in fair value of common stock warrants			$ 73,000	$ (529,000)	$ 364,000	$ 164,000
Using Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Marketable Securities and Fair Value Measurements (Textual) [Abstract]
Number of shares held in an affiliated entity (shares) | shares			1,644,155		1,644,155		1,644,155
Using Significant Unobservable Inputs (Level 3) [Member]
Marketable Securities and Fair Value Measurements (Textual) [Abstract]
Number of warrants received to purchase shares of common stock | warrant			2		2
Decrease in fair value included in change in fair value of common stock warrants					$ (312,500)
Using Significant Unobservable Inputs (Level 3) [Member] | First warrant [Member]
Marketable Securities and Fair Value Measurements (Textual) [Abstract]
Common stock purchase warrant (in shares) | shares		50,000
Term of the warrants in years		5 years
Exercise price of a five-year warrant ($ per share) | $ / shares		$ 24
Using Significant Unobservable Inputs (Level 3) [Member] | Second warrant [Member]
Marketable Securities and Fair Value Measurements (Textual) [Abstract]
Common stock purchase warrant (in shares) | shares	150,000
Term of the warrants in years	5 years
Exercise price of a five-year warrant ($ per share) | $ / shares	$ 20

Goodwill and Intangible Asset36

Goodwill and Intangible Assets (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2009	Jan. 31, 2005
Non-Amortizing:
Goodwill, Gross	$ 10,113,371	$ 10,113,371
Goodwill, Net Book Value	10,113,371	10,113,371
Amortizing:
Intangible assets, Gross	19,617,873	19,617,873
Intangible assets, Accumulated Amortization	(15,284,429)	(14,841,814)
Intangible assets, Net Book Value	4,333,444	4,776,059
Total goodwill and intangible assets, Gross	29,731,244	29,731,244
Total goodwill and intangible assets, Net Book Value	14,446,815	14,889,430
Inovio AS [Member]
Non-Amortizing:
Goodwill, Net Book Value				$ 3,900,000
VGX [Member]
Non-Amortizing:
Goodwill, Net Book Value			$ 6,200,000
Patents [Member]
Amortizing:
Intangible assets, Gross	5,802,528	5,802,528
Intangible assets, Accumulated Amortization	(5,444,794)	(5,358,433)
Intangible assets, Net Book Value	$ 357,734	444,095
Patents [Member] | Minimum [Member]
Schedule of intangible assets by major asset class
Useful Life	8 years
Patents [Member] | Maximum [Member]
Schedule of intangible assets by major asset class
Useful Life	17 years
Licenses [Member]
Amortizing:
Intangible assets, Gross	$ 1,323,761	1,323,761
Intangible assets, Accumulated Amortization	(1,118,739)	(1,104,366)
Intangible assets, Net Book Value	$ 205,022	219,395
Licenses [Member] | Minimum [Member]
Schedule of intangible assets by major asset class
Useful Life	8 years
Licenses [Member] | Maximum [Member]
Schedule of intangible assets by major asset class
Useful Life	17 years
CELLECTRA [Member]
Amortizing:
Intangible assets, Gross	$ 8,106,270	8,106,270
Intangible assets, Accumulated Amortization	(6,184,406)	(5,970,866)
Intangible assets, Net Book Value	$ 1,921,864	2,135,404
CELLECTRA [Member] | Minimum [Member]
Schedule of intangible assets by major asset class
Useful Life	5 years
CELLECTRA [Member] | Maximum [Member]
Schedule of intangible assets by major asset class
Useful Life	11 years
GHRH [Member]
Schedule of intangible assets by major asset class
Useful Life	11 years
Amortizing:
Intangible assets, Gross	$ 335,314	335,314
Intangible assets, Accumulated Amortization	(192,740)	(176,899)
Intangible assets, Net Book Value	$ 142,574	158,415
Other [Member]
Schedule of intangible assets by major asset class
Useful Life	18 years
Amortizing:
Intangible assets, Gross	$ 4,050,000	4,050,000
Intangible assets, Accumulated Amortization	(2,343,750)	(2,231,250)
Intangible assets, Net Book Value	$ 1,706,250	$ 1,818,750

Goodwill and Intangible Asset37

Goodwill and Intangible Assets (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Goodwill and Intangible Assets (Textual) [Abstract]
Aggregate amortization expense on intangible assets	$ 219,000	$ 238,000	$ 442,615	$ 477,462
Estimated aggregate amortization expense for remainder of 2015	427,000		427,000
Estimated aggregate amortization expense for 2016	816,000		816,000
Estimated aggregate amortization expense for 2017	775,000		775,000
Estimated aggregate amortization expense for 2018	773,000		773,000
Estimated aggregate amortization expense for 2019	773,000		773,000
Estimated aggregate amortization expense for 2020 and the years after	$ 769,000		$ 769,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Summary of common and preferred stock authorized, issued and outstanding
Common stock, shares authorized	600,000,000
Common stock, shares, issued	71,810,186
Common stock, shares, outstanding	71,810,186	60,741,082
Common stock, par value (Dollars per share)	$ 0.001	$ 0.001
Series A Preferred Stock [Member]
Summary of common and preferred stock authorized, issued and outstanding
Preferred Stock, par value (Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000
Preferred stock, shares issued	817
Preferred stock, shares outstanding	0	0
Series B Preferred Stock [Member]
Summary of common and preferred stock authorized, issued and outstanding
Preferred Stock, par value (Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000
Preferred stock, shares issued	750
Preferred stock, shares outstanding	0	0
Series C Preferred Stock [Member]
Summary of common and preferred stock authorized, issued and outstanding
Preferred Stock, par value (Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,091
Preferred stock, shares issued	1,091
Preferred stock, shares outstanding	23	23
Series D Preferred Stock [Member]
Summary of common and preferred stock authorized, issued and outstanding
Preferred Stock, par value (Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,966,292
Preferred stock, shares issued	1,966,292
Preferred stock, shares outstanding	0	0

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Summary of warrants outstanding
Number of Warrants	912,060	1,012,060
Common Stock Warrant Liability	$ 1,710,229	$ 2,022,729
March 2013 Financing [Member]
Summary of warrants outstanding
Exercise Price ($ per share)	$ 3.17
Expiration Date	Sep. 12, 2018
Number of Warrants	284,091	284,091
Common Stock Warrant Liability	$ 1,710,229	$ 2,022,729
Warrants assumed in June 2009 Merger [Member]
Summary of warrants outstanding
Number of Warrants	627,969	727,969
Common Stock Warrant Liability	$ 0	$ 0
Minimum [Member] | Warrants assumed in June 2009 Merger [Member]
Summary of warrants outstanding
Exercise Price ($ per share)	$ 4.08
Expiration Date	Aug. 1, 2015
Maximum [Member] | Warrants assumed in June 2009 Merger [Member]
Summary of warrants outstanding
Exercise Price ($ per share)	$ 5.08
Expiration Date	Apr. 28, 2016

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual)	May. 08, 2015shares	May. 05, 2015USD ($)$ / sharesshares	May. 22, 2014shares	May. 14, 2010shares	Mar. 31, 2014USD ($)$ / sharesshares	Mar. 31, 2013USD ($)$ / shares$ / Unitshares	Jun. 30, 2015shares	Jun. 30, 2014shares	Jun. 30, 2015USD ($)planshares	Jun. 30, 2014USD ($)shares
Stockholders' Equity (Textual) [Abstract]
Stock issued during period (shares)		10,925,000
Offering price ($ per share) | $ / shares		$ 8
Proceeds from initial public offering | $		$ 0
Proceeds from issuance of common stock | $									$ 81,902,363	$ 59,209,182
Number of common stock issued related to warrants exercised (shares)							0	170,455	0	2,071,475
Number of plans | plan									1
Award vesting period									3 years
Maximum contractual term									10 years
Stock and Cash Based Incentive Plan [Member]
Stockholders' Equity (Textual) [Abstract]
Number of additional shares authorized	2,000,000		1,250,000	500,000
Number of potential shares authorized for issuance under share based compensation plan				513,833
Number of shares authorized							7,256,664		7,256,664
Number of shares available for grant							2,006,974		2,006,974
Number of shares of unvested restricted stock units and options outstanding							230,000		230,000
Common stock, other shares, outstanding (shares)							4,494,266		4,494,266
Amended 2000 Stock Option Plan [Member]
Stockholders' Equity (Textual) [Abstract]
Options outstanding (shares)							148,878		148,878
Underwritten public offering [Member]
Stockholders' Equity (Textual) [Abstract]
Common stock, capital shares reserved for future issuance (shares)						6,844,317
Common stock purchase warrant (in shares)						3,422,158
Purchase price per unit of common stock and warrant ($ per unit) | $ / Unit						2.2
Class of warrant or right, number of securities called by each warrant or right						0.50
Class of warrant or right, securities called by warrants or rights ($ per share) | $ / shares						$ 3.1744
Potential proceeds from issue of common stock | $						$ 14,000,000
VGX Equity Compensation Plan [Member]
Stockholders' Equity (Textual) [Abstract]
Options outstanding (shares)							1,344,066		1,344,066
Common Stock [Member] | Underwritten public offering [Member]
Stockholders' Equity (Textual) [Abstract]
Stock issued during period (shares)					5,452,725
Public offering price ($ per share) | $ / shares					$ 11.60
Proceeds from issuance of common stock | $					$ 59,200,000
Common Stock [Member] | Underwritten Public Offering Overallotment Option [Member]
Stockholders' Equity (Textual) [Abstract]
Common stock, capital shares reserved for future issuance (shares)					711,225
March 2013 Financing [Member]
Stockholders' Equity (Textual) [Abstract]
Term of the warrants in years						5 years 6 months
Number of common stock issued related to warrants exercised (shares)									3,138,067
Over-Allotment Option [Member]
Stockholders' Equity (Textual) [Abstract]
Stock issued during period (shares)		1,425,000

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Numerator
Net loss attributable to Inovio Pharmaceuticals, Inc.	$ (6,248,250)	$ (10,711,274)	$ (16,830,029)	$ (21,532,734)
Reflect adjustment for decrease in fair value of warrant liability	(22,727)	(873,389)	(312,500)	(615,684)
Numerator for use in diluted loss per share	$ (6,270,977)	$ (11,584,663)	$ (17,142,529)	$ (22,148,418)
Denominator
Weighted average number of common shares outstanding (shares)	67,655,975	60,232,498	64,198,528	57,722,938
Effect of dilutive potential common shares from warrants (shares)	182,763	242,361	177,995	253,517
Denominator for use in diluted loss per share (shares)	67,838,738	60,474,859	64,376,523	57,976,455
Net loss per share, diluted ($ per share)	$ (0.09)	$ (0.19)	$ (0.27)	$ (0.38)
Antidilutive securities excluded from computation of earnings per share, amount (shares)			6,853,635	6,037,409
Options to purchase commons stock [Member]
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (shares)			5,987,210	4,943,567
Warrants to purchase common stock [Member]
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (shares)			627,969	1,085,386
Restricted stock units [Member]
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (shares)			230,000	0
Convertible preferred stock [Member]
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (shares)			8,456	8,456

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation			$ 3,773,134	$ 3,752,687
Total unrecognized compensation cost related to unvested stock options	$ 7,300,000		$ 7,300,000
Period over which total unrecognized compensation cost related to unvested stock options will be recognized			2 years 2 months
Weighted average grant date fair value ($ per share)	$ 5.02	$ 7.33	$ 4.62	$ 9.33
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to unvested stock options	$ 1,600,000		$ 1,600,000
Period over which total unrecognized compensation cost related to unvested stock options will be recognized			2 years 6 months
Weighted average grant date fair value ($ per share) for restricted stock units	$ 8.01		$ 7.76
Employees and Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 1,300,000	$ 1,200,000	$ 3,500,000	$ 3,300,000
Employees and Directors [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.00%	1.68%	0.99%	1.52%
Expected volatility	75.00%	110.00%	74.00%	111.00%
Expected life in years	5 years	5 years 1 month	5 years	5 years 1 month
Dividend yield	0.00%	0.00%	0.00%	0.00%
Forfeiture rate	7.00%	8.00%	8.00%	8.00%
Non Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 101,000	$ 69,000	$ 270,000	$ 459,000
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	649,000	614,000	2,000,000	2,000,000
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 612,000	$ 551,000	$ 1,500,000	$ 1,300,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Mar. 24, 2012	Sep. 28, 2011	Mar. 24, 2010	May. 31, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Related-Party Transactions (Textual) [Abstract]
Long-term other assets					$ 581,342		$ 581,342		$ 474,568
Subsidiary ownership percentage by parent				91.00%
Receivable from sale of intangible assets				$ 1,000,000
Future payments to be received from sale of intangible assets				$ 1,000,000
Equity ownership percentage after transaction				20.00%
Maximum amount of additional equity fundraising				$ 10,000,000
Carrying value of investment					0		0
GeneOne Life Sciences [Member]
Related-Party Transactions (Textual) [Abstract]
Payment received for license granted			$ 3,000,000
Deferred revenue from affiliated entity			$ 3,000,000
Period over which deferred revenue from affiliated entity will be recognized in years			8 years
Revenue from related parties					113,000	$ 138,000	225,000	$ 254,000
Operating expenses related to affiliated entity					5,300,000	$ 2,600,000	5,400,000	$ 3,700,000
Accounts receivable balance					7,000		7,000		2,000
Accounts payable and accrued liability					3,300,000		3,300,000		28,000
Long-term other assets					$ 196,000		$ 196,000		$ 260,000
OncoSec [Member] | First warrant [Member]
Related-Party Transactions (Textual) [Abstract]
Common stock purchase warrant (in shares)		50,000
Term of the warrants in years		5 years
Exercise price of a five-year warrant ($ per share)		$ 24
OncoSec [Member] | Second warrant [Member]
Related-Party Transactions (Textual) [Abstract]
Common stock purchase warrant (in shares)	150,000
Term of the warrants in years	5 years
Exercise price of a five-year warrant ($ per share)	$ 20

Commitments and Contingencies44

Commitments and Contingencies (Details) $ in Thousands	Jun. 30, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2015	$ 387
2,016	1,510
2,017	1,490
2,018	1,457
2,019	1,682
2,020	1,726
Thereafter	6,739
Total	$ 14,991

Commitments and Contingencies45

Commitments and Contingencies (Details Textual) - USD ($)	1 Months Ended
	Jun. 30, 2015	Mar. 31, 2014
Loss Contingencies [Line Items]
Tenant improvements	$ 933,000
Plymouth Meeting, Pennsylvania [Member]
Loss Contingencies [Line Items]
Initial lease term		11 years 6 months
Security deposit		$ 49,000
San Diego, California [Member]
Loss Contingencies [Line Items]
Increase to monthly payment	$ 13,000
Minimum [Member] | Plymouth Meeting, Pennsylvania [Member]
Loss Contingencies [Line Items]
Monthly payments under the lease		0
Maximum [Member] | Plymouth Meeting, Pennsylvania [Member]
Loss Contingencies [Line Items]
Monthly payments under the lease		$ 58,000

Collaborative Agreements (Detai

Collaborative Agreements (Details) - Collaborative Arrangement, Product [Member] - USD ($) $ in Thousands	Nov. 14, 2014	Sep. 30, 2013	Jun. 30, 2015	Jun. 30, 2015
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Upfront payment received		$ 10,000
INO 5150 [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue recognized		5,000
INO 1800 [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Revenue recognized		3,400
Option Right [Member] | Nonsoftware License Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deferred revenue, additions		1,500
Joint Steering Committee Obligation [Member] | Nonsoftware License Arrangement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Deferred revenue, additions		155
Hoffman-La Roche [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Upfront payment received		10,000
Anticipated development and regulatory event based payment receivable milestones		$ 3,000
Length of period after date of product first commercial sale to determine agreement in effect terms		10 years
Revenue under collaborative research and development arrangements			$ 3,000	$ 3,000
Previously deferred revenue recognized			4,300	8,600
Deferred revenue			322	322
Accounts receivable			$ 4,600	$ 4,600
Hoffman-La Roche [Member] | INO 5150 [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Days subsequent to termination notice effective	90 days

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	Aug. 07, 2015	Aug. 07, 2015	Sep. 30, 2013
Collaborative Arrangement, Product [Member]
Subsequent Event [Line Items]
Upfront payment received			$ 10
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from exercise of warrants and options		$ 1.6
Subsequent Event [Member] | Share Distribution [Member]
Subsequent Event [Line Items]
Common stock issued related to warrants and stock options exercise (shares)		306,625
Subsequent Event [Member] | MedImmune [Member] | Collaborative Arrangement, Product [Member]
Subsequent Event [Line Items]
Upfront payment received	$ 27.5
Anticipated development and regulatory event based payment receivable milestones	$ 700

Uncategorized Items - ino-20150

Label	Element	Value
Change in Value of Investments in Affiliated Company	ino_ChangeInValueOfInvestmentsInAffiliatedCompany	$ (1,458,160)
Change in Value of Investments in Affiliated Company	ino_ChangeInValueOfInvestmentsInAffiliatedCompany	8,861,145
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	(10,717,717)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	us-gaap_ProfitLoss	$ (6,162,389)