Why Inovio Pharmaceuticals Stock Is Rising Today
Shares of Inovio Pharmaceuticals (NASDAQ: INO) were up by 10.4% as of 12:41 p.m. EDT on Thursday. There was no company-specific news that drove the stock higher, but Inovio's shares have more than tripled since the beginning of the year due to its efforts to develop a vaccine for COVID-19. Today's gains are likely a continuation of that trend.
Inovio has been racing through the early stages of the development of its potential COVID-19 vaccine, INO-4800. The company claimed that on Jan. 10, it created INO-4800 in three hours after Chinese researchers publicly released the genetic sequence of the SARS-CoV-2 virus that causes COVID-19. On April 6, Inovio started a phase 1 clinical trial for its investigational COVID-19 vaccine.
The trial will involve up to 40 healthy adult volunteers who will each receive two doses of the vaccine four weeks apart. The goals of the trial are to test the vaccine's safety and its ability to trigger an immune response in the body. Inovio expects data from this trial by late summer.
Source Fool.com
