Is There Any Hope for Inovio?
A year ago, Inovio Pharmaceuticals (NASDAQ: INO) held a leading position in the coronavirus vaccine race. The clinical-stage biotech company launched a clinical trial only a month after Moderna. Today, Moderna's vaccine has vaccinated millions of individuals worldwide. And Inovio faces its biggest challenge yet.
Last week, the U.S. government told Inovio it would no longer fund the company's upcoming phase 3 trial. The decision is due to the broad availability of coronavirus vaccines. So far, the U.S. has granted Emergency Use Authorization (EUA) to Moderna, Pfizer, and Johnson & Johnson (J&J). Inovio's shares sank more than 20% in one trading session on the news. Now, we might wonder if there's any hope for this potential latecomer to the coronavirus vaccine market. Let's take a closer look.
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Source Fool.com
