Why Inovio Pharmaceuticals Stock Soared Today
Shares of Inovio Pharmaceuticals (NASDAQ: INO) were soaring 13.4% higher as of 3:10 p.m. EDT on Friday. The big jump came after Inovio reported positive interim results on Thursday from a phase 2 clinical study evaluating experimental drug VGX-3100 in treating patients with anal dysplasia, a precancerous condition caused by human papillomavirus (HPV).
Positive clinical results nearly always boost biotech stocks, especially for companies like Inovio that don't have approved products yet. And the phase 2 results for VGX-3100 were definitely encouraging. Half of the 20 patients in the study showed clearance of precancerous lesions associated with HPV types 16/18. Fifteen patients (75%) had an overall decrease in the number of lesions six months after beginning treatment with VGX-3100.
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Source Fool.com
