Inovio Pharmaceuticals Inc. shares were downgraded to sector perform from outperform by analysts at RBC on Friday, after gaining more than 180% in the year to date on high hopes for a potential vaccine candidate to treat the coronavirus. Analyst Gregory Renza said he's sticking with his $7 price target on the stock of the small, loss-making biotech. " ..In our view COVID-19 vaccine attention has helped to reach levels that reflect fair value, and more than accounts for the potential that resides in their late HPV-driven programs which we see as the key value driving assets in INO's portfolio," Renza wrote in a note to clients. The analyst said he is taking a cautious view on Inovio's ability to fully capture any opportunity with its COVID-19 vaccine, called INO-4800. However, he said the company's versatile technology, clean safety history and quick response capabilities "enable the company to be reactive and attract start-up resources to establish a path to development. However, the unpredictability of monetizing a vaccine as well as the inherent work that INO faces in getting a vaccine over the goal line (irrespective of fast tracking) still persists - with the program development, proving out the viability and profile of INO-4800 clinically, being able to deploy vaccine and device in a scalable way - and all together remain a tall order." Inovio said Thursday that it has received a $5 million grant from the Gates Foundation to fund development of a smart device that could inject its vaccine. The company is hoping to move to human testing of the vaccine by April. Shares were last down 21%, but are still up 105% in the last 12 months, while the S&P 500 has fallen 8%.
Shares are falling hard as investors react to President Donald Trump’s plan to limit the fallout from the coronavirus outbreak and news that the European Central Bank isn’t cutting interest rates.
7073彩票注册President Trump imposed a temporary travel ban between the U.S. and continental Europe, and the National Basketball Association suspended its season. Early trading Thursday will cause more pain for investors.
Inovio Pharmaceuticals Inc. said Thursday it has received a $5 million grant from the Bill and Melinda Gates Foundation to accelerate the testing of a proprietary smart device for intradermal delivery of a vaccine to treat the coronavirus that causes COVID-19. The vaccine, INO-4800, is in preclinical studies and the company is aiming to advance to human clinical trials in April. Inovio already has up to $9 million in funding from Coalition for Epidemic Preparedness Innovations, or CEPI, a global organization based in Oslo. Inovio shares surged 22% premarket. The stock has been on a tear each time it posts a press release about its planned vaccine. The company has 15 DNA medicine clinical pograms in development but has no approved products.
Clinical trials and regulatory reviews may slow amid the outbreak’s disruption. New drug launches could suffer.
The spread of the coronavirus and a collapse in the oil price have markets under the hammer.
7073彩票注册Numerous projects are under way to find cures or treatments—but don’t expect an answer anytime soon.
7073彩票注册The coronavirus outbreak initially spurred gains for drugmakers, but investors may be having second thoughts.
7073彩票注册Researchers have started to recruit healthy Seattle-area volunteers to participate in the first clinical trial of an experimental coronavirus vaccine, a faster-than-expected start for the first vaccine readied for testing.
Johnson & Johnson, Sanofi and Inovio Pharmaceuticals have started to develop coronavirus vaccines. The efforts come as Moderna has shipped a batch of its coronavirus vaccine to U.S. researchers for human testing.
7073彩票注册Johnson & Johnson, Sanofi and Inovio Pharmaceuticals have started to develop coronavirus vaccines. The efforts come as Moderna has shipped a batch of its coronavirus vaccine to U.S. researchers for human testing.
The French drug maker is reviving SARS research in an attempt to develop a vaccine for the new coronavirus.
7073彩票注册Shares that surged last week on hopes for a coronavirus vaccine have since shed their gains.
Advances in drug research mean a vaccine for the coronavirus could be in human trials by April.
Intel, Broadcom, American Express and Inovio are among the companies with shares expected to trade actively in Friday’s session.
Moderna, Inovio Pharmaceuticals and Novavax are racing to develop vaccines that could protect against the new respiratory virus originating in China, as fears mount it could spread more widely.
Axsome (AXSM) speeds up the evaluation time of AXS-05 under the phase II/III ADVANCE-1 study for Alzheimer's disease agitation to ensure safety of patients amid the COVID-19 pandemic.
Can Inovio’s Vaccine Efforts Maintain Growth for INO Stock?
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7073彩票注册24/7 Wall St. has tracked some health care companies with prospects at crafting a vaccine to deal with this novel coronavirus and where they stand now.
7073彩票注册As the coronavirus pandemic continues to spread, some of the biggest drug companies are moving closer to finding a vaccine.
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As the Coronavirus Worsens, INO Stock Gets More Interesting
Inovio (INO) is developing INO-4800, its DNA vaccine to enter clinical testing soon, against COVID-19. The company's vaccine portfolio holds potential amid competition.
7073彩票注册INOVIO PHARMACEUTICALS, INC. CLASS ACTION Alert: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York against Inovio Pharmaceuticals, Inc.
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7073彩票注册INO SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Alerts Inovio Pharmaceuticals, Inc. Investors of Class Action and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
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7073彩票注册Inovio Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Inovio Pharmaceuticals, Inc. To Contact The Firm
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Inovio Pharmaceuticals, Inc. is a late-stage biotechnology company. It engages in the discovery, development, and commercialization of DNA-based immunotherapies and vaccines. The firm's drug candidates include SynCon immunotherapies which helps break the immune system's tolerance of cancerous cells; and CELLECTRA delivery system which facilitates optimized cellular uptake of the SynCon immunotherapies. The company was founded by David B. Weiner on June 29, 1983 and is headquartered in Plymouth Meeting, PA. (See Full Profile)