Alyeska discloses 5.99% Inovio (INO) stake via 4M-share warrants

Rhea-AI Filing Summary

Inovio Pharmaceuticals, Inc. received an amended Schedule 13G/A showing that Alyeska Investment Group, Alyeska Fund GP and Anand Parekh beneficially own 4,000,000 shares of common stock, equal to 5.99% of the company. They report shared power to vote and dispose of these shares, held through warrants, and state the position is held in the ordinary course of business and not to influence control of Inovio.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Inovio Pharmaceuticals, Inc.

(Name of Issuer)

Common Stock, $0.001 par value

(Title of Class of Securities)

45773H409

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 45773H409

1

Names of Reporting Persons

Alyeska Investment Group, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,000,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,000,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,000,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.99 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 45773H409

1

Names of Reporting Persons

Alyeska Fund GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,000,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,000,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,000,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.99 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 45773H409

1

Names of Reporting Persons

Anand Parekh

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,000,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,000,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,000,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.99 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Inovio Pharmaceuticals, Inc.
(b)	Address of issuer's principal executive offices: 660 W. GERMANTOWN PIKE, SUITE 110, PLYMOUTH MEETING, PA, 19462
Item 2.
(a)	Name of person filing: (i) Alyeska Investment Group, L.P. (ii) Alyeska Fund GP, LLC (iii) Anand Parekh
(b)	Address or principal business office or, if none, residence: (i) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601 (ii) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601 (iii) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601
(c)	Citizenship: (i) Alyeska Investment Group, L.P. - Delaware (ii) Alyeska Fund GP, LLC - Delaware (iii) Anand Parekh - United States of America
(d)	Title of class of securities: Common Stock, $0.001 par value
(e)	CUSIP No.: 45773H409
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 4,000,000
(b)	Percent of class: 5.99%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 4,000,000
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 4,000,000
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Alyeska Investment Group, L.P.

Signature:	Jason Bragg
Name/Title:	Jason Bragg | Chief Financial Officer
Date:	02/17/2026

Alyeska Fund GP, LLC

Signature:	Jason Bragg
Name/Title:	Jason Bragg | Chief Financial Officer
Date:	02/17/2026

Anand Parekh

Signature:	Anand Parekh
Name/Title:	Anand Parekh | Self
Date:	02/17/2026

Exhibit Information

The reporting persons hold warrants to purchase 4,000,000 shares of the Issuer's Common Stock (the "Warrants"). The percentage calculation assumes that there are currently 66,729,675 outstanding Common Stock of the Issuer, based on the Issuer's Prospectus filed with the Securities and Exchange Commission on November 12, 2025. JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G/A, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G/A, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

FAQ

What stake in Inovio Pharmaceuticals (INO) does Alyeska report in this Schedule 13G/A?

Alyeska and related reporting persons disclose beneficial ownership of 4,000,000 shares of Inovio common stock. This position represents 5.99% of the company’s common stock, based on 66,729,675 shares outstanding referenced from a November 12, 2025 prospectus.

How is Alyeska’s 5.99% ownership in Inovio (INO) structured?

The reporting persons state they hold warrants to purchase 4,000,000 shares of Inovio common stock. Voting and dispositive power over these shares is reported as shared, with no sole voting or dispositive power attributed to any individual reporting person.

Who are the reporting persons in the Inovio (INO) Schedule 13G/A filing?

The filing lists three reporting persons: Alyeska Investment Group, L.P., Alyeska Fund GP, LLC, and Anand Parekh. Each reports the same 4,000,000 shares beneficially owned and the same 5.99% percentage of Inovio’s outstanding common stock.

Does Alyeska’s Inovio (INO) Schedule 13G/A indicate an attempt to influence control?

The certification states the securities were acquired and are held in the ordinary course of business. It further notes they were not acquired and are not held for the purpose of changing or influencing control of Inovio Pharmaceuticals, Inc.

What outstanding share count did Alyeska use to calculate its 5.99% Inovio (INO) stake?

The filing explains that the 5.99% ownership figure assumes 66,729,675 shares of Inovio common stock outstanding. This figure is taken from Inovio’s prospectus filed with the SEC on November 12, 2025.

What type of securities underpin Alyeska’s reported Inovio (INO) ownership?

The reporting persons disclose that they hold warrants to purchase 4,000,000 shares of Inovio common stock. These warrants, rather than currently issued common shares, are the basis for the beneficial ownership reported in the Schedule 13G/A amendment.