Inovio Stock – Why Inovio Stock Is Jumping Today
Shares of Inovio Pharmaceuticals (NASDAQ: INO) were jumping 10.5% as of 11:07 a.m. EST on Friday. The biotech didn’t announce any new developments. But Inovio’s gain likely reflected some investors’ continued optimism as the company now moves ahead with a phase 2 study of COVID-19 vaccine candidate INO-4800.
Investors usually shouldn’t place much emphasis on big gains (or losses, for that matter) on no news the Friday after Thanksgiving. Such moves often are only noise on a historically low-volume trading day. Instead of temporary price swings, what really matters are the company’s growth prospects.
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Inovio’s growth prospects don’t depend on just one pipeline candidate. But investors’ attention is currently focused heavily on INO-4800. The experimental vaccine’s results from phase 2 testing will be extremely important for the biotech stock.
Other key programs to watch with Inovio include VGX-3100, which is being evaluated in a late-stage study for treating pre-cancerous cervical dysplasia. INO-5401 appears to have potential in treating glioblastoma muliforme, an aggressive type of brain cancer. The company also recently announced the dosing of the first patient in a phase 1/2 study of INO-3107 in treating recurrent respiratory papillomatosis (RRP), a rare disease where noncancerous tumor growths obstruct airways.
Inovio is working to resolve remaining questions from the Food and Drug Administration about the Cellectra 2000 device used to deliver INO-4800. Settling these questions will be needed before the company can begin a phase 3 study of INO-4800. Positive phase 2 results will also be necessary to advance the experimental COVID-19 vaccine into late-stage testing.
The biotech should have another major catalyst coming next year. Inovio expects to announce results from its Reveal-1 late-stage study of VGX-3100 in the first half of 2021.
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Keith Speights has no position in any of the stocks mentioned. The Fintech Zoom has no position in any of the stocks mentioned. The Fintech Zoom has a disclosure policy.
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