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Why Inovio Pharmaceuticals Stock Is Jumping Today

TheMotleyFool

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Why Inovio Pharmaceuticals Stock Is Jumping TodayPhoto, wide shot, wide-angle lens, Pharmaceutical company, Midday, harsh overhead sunlight, directional sunlightt, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7ae4a134-dd01-4c80-a621-18399f5a2541.png

Shares of Inovio Pharmaceuticals (NASDAQ: INO) were trading 8.7% higher as of 12:04 p.m. EST on Monday. Those gains came after the biotech announced the initiation of the phase 2 portion of a phase 2/3 clinical study for its coronavirus vaccine candidate, INO-4800. The study will be funded by the U.S. Department of Defense.

A dark cloud had been hanging over Inovio's COVID-19 program ever since September, when the Food and Drug Administration placed a partial clinical hold on its planned phase 2/3 study. Did Monday's news blow the dark cloud away? Not entirely -- but it was definitely a step in the right direction.

Image source: Getty Images.

Source Fool.com

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