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Why Inovio Stock Is Sinking Today


Shares of Inovio Pharmaceuticals (NASDAQ: INO) were sinking 8.8% as of 11:13 a.m. EDT on Thursday. The company didn't announce any new developments, and today's sell-off appears to be due to investors taking profits after Inovio's shares jumped nearly 17% yesterday.

Inovio did have big news on Wednesday that caused the biotech stock to soar. The company announced that it's partnering with Advaccine Biopharmaceuticals Suzhou to evaluate COVID-19 vaccine candidate INO-4800 in a global late-stage clinical study. Advaccine was already collaborating with Inovio to develop and market INO-4800 in the greater China market.

Image source: Getty Images.

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Source Fool.com

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