Stocks connected with clinical-stage biotech Inovio Pharmaceuticals (NASDAQ:INO) are up by a wholesome and balanced 20.3%, on abnormally amount that is high as of 10:40 a.m. EDT Tuesday. Today’s double-digit rally seems to be carryover from CEO Dr. Joseph Kim’s presentation during the H.C. Wainwright 22nd Annual internationally Investment Conference yesterday.
While Kim’s presentation didn’t exactly include any earth-shaking updates, he did note that a paper that is peer-reviewed be forthcoming discussing the phase 1 trial outcomes for the business’s closely watched COVID-19 vaccine candidate, INO-4800. This first trial that is human 40 healthy volunteers aged 18 to 50. Previously, Inovio announced that the vaccine produced either antibodies that are neutralizing responses that are t-cell all study individuals.
Inovio’s stocks happen under immense pressure for the last three months. In reality, the drugmaker’s stock has dropped by nearly 60% general to its 52-week high posted straight back June. Investors have backed away from Inovio’s stock mostly as the business has dropped behind the leaders in the hotly contested race to build up a safe and effective vaccine that is COVID-19.
At yesterday’s conference, nonetheless, Kim reported that INO-4800’s planned phase 2/3 test should get clearance from the Food and Drug administration quickly. He additionally noted that he felt “very confident” this pivotal trial would receive external financing — perhaps foreshadowing a large award from Operation Warp Speed in the future that is near. Stocks connected with clinical-stage biotech Inovio Pharmaceuticals.
Should investors purchase into this rally that is latest? Inovio is a biotech that is risky to make sure. But there’s an opportunity that is decent the biotech could indeed land a big award because of its COVID-19 vaccine. So, if you are the risk-tolerant kind, it might pay dividends to get a few shares ahead of this catalyst that is potential.