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After Slashing Costs, Is Inovio a Buy?

TheMotleyFool

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After Slashing Costs, Is Inovio a Buy?Photo, 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

Inovio Pharmaceuticals (NASDAQ: INO) was once one of the biggest coronavirus-vaccine hopefuls. The company was among the first to launch clinical trials of a vaccine candidate -- and saw its shares soar more than 700% in the first half of 2020. But when the program fell behind, investors lost faith. The stock has dropped 92% since its 2020 high.

Now, Inovio may be heading for a turnaround. It appointed a new CEO in May. And this week, Inovio announced a major cost-cutting effort that will give it the cash it needs to operate through the third quarter of 2024.

Could now be a time to get in on this potential recovery story? Let's take a closer look.

Source Fool.com

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