Sumary of Is Inovio Pharmaceuticals Primed For a Comeback?:
- It seems like a long time ago that Inovio Pharmaceuticals (NASDAQ:INO) was considered a leader in the race to develop an effective coronavirus vaccine.
- The biotech was soundly defeated in that competition, and while it is trying to play catch up, other players have already racked up billions in sales from their vaccines.
- Unsurprisingly, investors mostly gave up on Inovio, and its shares have lost more than half their value in the past 12 months.
- But some recent developments could help Inovio stage a rebound — and if it does, its shares would be a steal at current levels.
- Inovio hasn’t given up on its COVID-19 vaccine program, but the biotech can’t conduct a phase 3 clinical trial for INO-4800 in the U.S. at the moment.
- In September 2020, the U.S. Food and Drug Administration (FDA) placed the phase 3 portion of Inovio’s phase 2/3 study on clinical hold because of concerns regarding the company’s Cellectra 2000, a proprietary device it uses to administer the vaccine.
- Inovio is free to run clinical trials elsewhere, though, and it is partnering with vaccine maker Advaccine Biopharmaceuticals Suzhou to do so.
- The two companies plan to start the phase 3 portion of Inovio’s phase 2/3 clinical trial for INO-4800 in several countries in Asia and Latin America by the end of the summer.