I agree with you. The shelf registration was unnecessesary so quickly after results, specially if they did not have something else to keep momentum going.
What bothers me the most is holding through the risk for nothing. If results had been bad I probably could've lost 50% of the stocks value, with the results being positive I barely saw any gains. I am still keeping this long term and have been holding for over a year, however, being a loyal INO stock holder is getting harder and harder.