Why Inovio Pharmaceuticals Stock Is Up Today
Shares of the biotech Inovio Pharmaceuticals (NASDAQ: INO) are rising sharply today, up by 5.9% as of 12:23 p.m. EDT, despite the company not reporting any news. But with the company down by nearly 29% over the past five days alone, it seems reasonable to assume that investors think now is a good time to scoop up Inovio's shares for a discount.
Inovio released its second-quarter financial report on Aug. 10. The big story from the company's earnings release was an update regarding its efforts to develop a vaccine for COVID-19. Inovio reported that in a phase 1 clinical trial, all of the participants demonstrated immune responses after receiving its experimental vaccine, INO-4800. In particular, about 90% of the study's participants generated strong T cell responses. Also, Inovio's candidate performed well in a non-human primate study as part of Operation Warp Speed.
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Source Fool.com
