Shares of Inovio Prescribed drugs (NASDAQ: INO) had been sliding 5.2% decrease as of three:45 p.m. EST on Friday. The corporate introduced earlier within the day that constructive outcomes from a section 2 examine evaluating INO-5401 and INO-9012 together with most cancers immunotherapy Libtayo will likely be offered on the Society for Neuro-Oncology (SNO) 2020 Annual Assembly.
Usually, constructive outcomes from a scientific examine function a constructive catalyst for a biotech stock like Inovio. And Inovio’s share price did soar 5% in early buying and selling on Friday. Nevertheless, when the general market falls because it did right this moment, it is onerous for particular person stocks to swim towards the tide. As well as, traders seem like rather more closely centered on Inovio’s COVID-19 program than the rest proper now.
Picture supply: Getty Photos.
Regardless of right this moment’s sell-off, Inovio’s outcomes for the INO-5401/INO-9012/Libtayo combo had been fairly good. The corporate reported a 70% survival fee after 18 months for one group of sufferers with glioblastoma, an aggressive kind of mind most cancers. It additionally introduced a 50% survival fee after 18 months for sufferers in a bunch that had a extra difficult-to-treat kind of glioblastoma.
Typically poor security outcomes can overshadow constructive efficacy information. That wasn’t the case with Inovio’s information, although. The biotech said that the combo of INO-5401 and INO-9012 “demonstrated a well-tolerated security profile” when given with radiation and chemotherapy drug temozolomide in addition to with Libtayo.
Traders nonetheless weren’t impressed sufficient, nonetheless, to drive the stock increased. Maybe one of the simplest ways for Inovio to alter traders’ sentiment is to ship stellar outcomes for its COVID-19 vaccine candidate INO-4800 in section 2 testing.
Inovio just lately started the section 2 examine of INO-4800, which is being funded by the U.S. Division of Protection. The FDA allowed the examine to start after putting a partial scientific maintain on the biotech’s deliberate section 2/three examine. The section three portion of the examine stays on partial scientific maintain. Inovio plans to handle the FDA’s questions on its Cellectra 2000 machine used to manage INO-4800 whereas the section 2 trial is in progress. The section 2 examine evaluating INO-5401 and INO-9012 may even proceed, with Inovio anticipating to announce extra information within the coming months.
10 stocks we like higher than Inovio Prescribed drugs
When investing geniuses David and Tom Gardner have a stock tip, it might pay to hear. In spite of everything, the publication they’ve run for over a decade, Motley Idiot Stock Advisor, has tripled the market.*
David and Tom simply revealed what they imagine are the ten greatest stocks for traders to purchase proper now… and Inovio Prescribed drugs wasn’t considered one of them! That is proper — they suppose these 10 stocks are even higher buys.
See the 10 stocks
*Stock Advisor returns as of October 20, 2020
Keith Speights has no place in any of the stocks talked about. The Motley Idiot has no place in any of the stocks talked about. The Motley Idiot has a disclosure coverage.
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.