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Thanks to the progress in the vaccine development, Inovio (INO) stock has given a boost to investor confidence. Since the end of 2019, Inovio shares are 264,55% up. In the last month alone, the rise is 65%.
One of the 70 potential coronavirus vaccines is being developed by Inovio Pharmaceuticals Inc (NASDAQ: INO). Inovio is one of the leaders in the race, as its coronavirus vaccine candidate is in the process of human trials. Recently, the company said it is planning to complete recruiting 40 healthy adult volunteers by the end of April, or next week. Amid the announcement, Inovio (INO) stock is rising.
On April 23, Inovio stock jumped by 2.73% to close at $12.03. After hours, it added another 3.08% to trade at $12.40 per share. In pre-market today, INO shares are further 4.24% up, $12.54 at the moment of writing.
Due to the progress in the vaccine development, Inovio stock has given a boost to investor confidence. Since the end of 2019, Inovio shares are 264,55% up. In the last month alone, this rise is 65%. And taking into consideration the progress Inovio has with the coronavirus vaccine, stock growth might be even more significant.
Inovio Is Recruiting for Coronavirus INO-4800 Vaccine Testing
Inovio is working on the coronavirus vaccine in collaboration with the Beijing Advaccine Biotechnology Company. On April 6, Inovio started a phase 1 clinical trial for the vaccine candidate INO-4800. The trial is now in progress, it will involve up to 40 healthy adult volunteers who will each receive two doses of the vaccine four weeks apart.
Currently, the company is looking for potential participants at a medical center in Kansas City, Missouri. By the end of April, Inovio is planning to end the recruiting.
Inovio Pharmaceuticals CEO Dr. Joseph Kim said:
“We expect to finish enrollment of all 40 volunteers before the end of April.”
“It helps that [the University of Pennsylvania is] my alma mater and we’ve done collaborative work over the years. Phase two and beyond we want to leverage some of the private institutions, like the University of Pennsylvania.”
The Bill and Melinda Gates Foundation has provided $5 million for Inovio’s study. The Coalition for Epidemic Preparedness Innovations, or CEPI, and the Department of Defense supported it as well.
“We expect this global network of funders to even grow in the coming weeks and months.”
In addition, on April 16, Inovio Pharmaceuticals announced it got $6.9 million from the Coalition for Epidemic Preparedness Innovations (CEPI) to collaborate with the Korea National Institute of Health (KNIH) and the International Vaccine Institute (IVI) and start Phase 1/2 clinical testing of its INO-4800 vaccine in South Korea.
Even despite the progress, Inovio’s vaccine is now at risk as it has not received regulatory approval yet.