Please do not take this as a stab.... I do not understand what you mean by a pump? If someone can point out valid facts against how I view a current situation I will by all means listen. INO has not pumped anything. Investor relations is required to report any developments that can affect the price of the stock. As an investor, if they did not update me with trial results, financials, business developments, etc. I would not stay invested in the company. Investors would leave the company and they would loose all sources of funding. All they have done is report trial results and developments with their drug pipeline. How is that a pump?
I see how it can be viewed as such because these type of results will attract many investors, sending the pps higher. It is then a given that many people will sell so that they can make money. Those people are called traders. This is nothing new and is part of every single stock. Not everyone will buy to hold for years. In fact, very few people are true longs. This however, by no means justifies the claim of a "pump and dump". It's just typical everyday biotech price action.
A pump and dump would be saying that they will be releasing world changing news soon. And then by "world changing" meaning one persons world... Or by soon meaning 10 years from now.