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Why Inovio Stock Is Crashing Today

TheMotleyFool

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Why Inovio Stock Is Crashing TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Shares of Inovio Pharmaceuticals (NASDAQ: INO) were crashing 32.5% lower as of 9:37 a.m. EDT on Monday. The huge decline came after the company announced that the U.S. Food and Drug Administration placed Inovio's filing to begin a phase 2/3 clinical study of COVID-19 vaccine candidate INO-4800 on partial clinical hold.

Investors are justifiably worried about the status of Inovio's COVID-19 vaccine program. The small biotech had hoped to start its phase 2/3 study of INO-4800 in September. That's now completely off the table.

Image source: Getty Images.

Source Fool.com

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