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Why Inovio Stock Is Sinking Today

TheMotleyFool

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Why Inovio Stock Is Sinking TodayPhoto, 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

Shares of Inovio Pharmaceuticals (NASDAQ: INO) were sinking 8.8% as of 11:13 a.m. EDT on Thursday. The company didn't announce any new developments, and today's sell-off appears to be due to investors taking profits after Inovio's shares jumped nearly 17% yesterday.

Inovio did have big news on Wednesday that caused the biotech stock to soar. The company announced that it's partnering with Advaccine Biopharmaceuticals Suzhou to evaluate COVID-19 vaccine candidate INO-4800 in a global late-stage clinical study. Advaccine was already collaborating with Inovio to develop and market INO-4800 in the greater China market.

Image source: Getty Images.

Source Fool.com

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