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Why Inovio Pharmaceuticals Stock Sank Today

TheMotleyFool

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Why Inovio Pharmaceuticals Stock Sank TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by David Maisel: https://img.theapi.app/temp/0e9d087d-988e-4397-b7cf-6049e2776769.png

Shares of Inovio Pharmaceuticals (NASDAQ: INO) were sinking 12.8% lower as of 3:27 p.m. EDT on Wednesday. The decline appeared to be caused primarily by two factors.

Inovio's shares slipped earlier in the day following comments that Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases (NIAID), made in an interview with JAMA editor Howard Bauchner. Fauci stated that he was concerned that COVID-19 vaccines likely won't provide a long period of immunity.

The stock fell harder later in the day, though, after The New York Times reported that the Trump administration selected five COVID-19 vaccines as the most likely to be successful. Inovio didn't make the cut.

Source Fool.com

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