Why Inovio Pharmaceuticals Stock Is Crashing Today
Shares of Inovio Pharmaceuticals (NASDAQ: INO) were crashing 14.6% lower as of 10:55 a.m. EDT on Wednesday after falling as much as 20.7% earlier in the day. The drop stemmed from two factors. First, investors continued to be unimpressed by Inovio's lack of detail on Tuesday in its announcement of interim early-stage study results for COVID-19 vaccine candidate INO-4800. Second, the FDA issued an update on Tuesday that could mean no COVID-19 vaccine will be approved this year.
Inovio's valuation is based entirely on investors' expectations for the company's pipeline. Any hint of bad news is going to cause the biotech stock to sink. And both factors behind Inovio's decline today are hints of bad news to some.
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Source Fool.com
