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6/1/2012 4:51 PM ET

Inovio Pharmaceuticals Inc. (INO: Quote) announced that it has entered into a sales agreement with Cowen and Company, LLC, under which Inovio may from time to time offer and sell common stock with aggregate proceeds of up to $25 million.

Inovio said it may sell its stock through Cowen by methods deemed to be an "at the market" offering or ATM including sales made through the NYSE MKT, or any other existing trading market for the common stock or to or through a market maker.

In addition, the common stock may be sold through negotiated transactions. This ATM replaces a prior ATM agreement that Inovio already had in place.

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