Three item numbers and no sentence. $INO is +266.87% before the bell on an 8-K the feed reads as Item 7.01, Item 8.01, Item 9.01: a Regulation FD disclosure, an other-events entry, and the exhibit slot where the press release is attached. Item 7.01 is the furnished slot, the one a company uses when the rule says everyone hears it at the same time. What everyone is hearing sits in the EX-99, not in the item number, and the item number is what the pre-bell crowd has priced.
By the profile this is a $119 million pharma with 103 million shares in the float. That is not a one-million-share float being leaned on by six orders; a print like this on that share count means real size changed hands, or almost none did at silly prices. The regular session decides which, and it has not started.
Inovio's own file is short and polite. Fourteen prior sessions where it opened at least 5% above the previous close. Median open-to-close: -1.92%. Closed below that day's open 71% of the time. Every one of those fourteen cleared a 5% bar; this morning's print is fifty times the bar. So the sample describes Inovio's routine gap mornings, and routine is the only thing a fourteen-session file is able to describe.
#PERI is the other filing-class gap on this morning's list: +31.15% on a 6-K dated today, the foreign-private-issuer form, which carries no item numbers at all, just a report and whatever exhibit is attached. Two filings, two gaps, and in both the number being traded lives on the exhibit, not the cover.