Why Inovio Pharmaceuticals Stock Perked Up in May
Shares of the clinical-stage biotech Inovio Pharmaceuticals (NASDAQ: INO) gained a respectable 10.9% over the course of May, according to data provided by S&P Global Market Intelligence. The DNA vaccine company's shares rallied last month on the news that its pan-COVID-19 vaccine candidate, INO-4802, showed strong signs of efficacy across multiple strains of the virus in preclinical studies.
Despite being one of the first American biotech companies to develop a COVID-19 vaccine candidate last year, Inovio has fallen woefully behind the leaders in the space over the last year. In fact, there probably won't be a significant need for another vaccine in the U.S. by the time Inovio pushes its lead COVID-19 vaccine candidate, INO-4800, into late-stage testing this summer.
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Source Fool.com