Market Overview

Inovio Analyst Watches Coronavirus Play 'From The Sidelines'

Inovio Analyst Watches Coronavirus Play 'From The Sidelines'

Coronavirus vaccine play Inovio Pharmaceuticals Inc (NASDAQ: INO) is not an outright buy at this point in time, according to an analyst at Piper Sandler.

The Inovio Analyst

Christopher Raymond maintained a Neutral rating on Inovio shares with an $8 price target. 

The Inovio Thesis

The 12-month overall survival data Inovio presented for its DNA cancer vaccine INO-5401 in glioblastoma multiforme — a deadly form of brain cancer — at the ASCO made the benefit less clear, Raymond said in a Monday note. (See his track record here.) 

The vaccine is being studied in a Phase 2 single-arm study in newly diagnosed GBM patients following gross total resection and in combo with radiotherapy, temozolomide and Regeneron Pharmaceuticals Inc's (NASDAQ: REGN) Libtayo, he said. 

"While the data have demonstrated that a subset of patients had a T cell response to treatment, there is still uncertainty over INO-5401's individual therapeutic benefit." 

Longer-term and randomized data for the vaccine would help Piper Sandler feel more confident in the program, Raymond said.

An overall survival update due later this year is a key catalyst for the program, the analyst said. Given the uncertainty, he said INO-5401 remains an unmodeled opportunity at this point.

Piper Sandler sees several upcoming catalysts for Inovio, including first-in-human data from INO-4800 due later this month and an update on potential funding for the program to support further development.

"However, given the ongoing volatility surrounding this name over COVID-19 efforts, we prefer to watch this story play out from the sidelines," Raymond said. 

INO Price Action

At last check, Inovio shares were down 5.85% at $13.99. 

Related Links:

The Week Ahead In Biotech: ASCO, Menlo And Merck FDA Decisions, IPOs In The Spotlight

Attention Biotech Investors: Mark Your Calendar For June PDUFA Dates

Latest Ratings for INO

Jul 2020Maxim GroupDowngradesBuyHold
Jun 2020HC Wainwright & Co.DowngradesBuyNeutral
Jun 2020Cantor FitzgeraldMaintainsOverweight

View More Analyst Ratings for INO
View the Latest Analyst Ratings


Related Articles (INO + REGN)

View Comments and Join the Discussion!

Posted-In: Christopher Raymond CoronavirusAnalyst Color Biotech Price Target Reiteration Analyst Ratings General Best of Benzinga

Latest Ratings

TYGB of A SecuritiesUpgrades
ZIONB of A SecuritiesMaintains39.0
RFB of A SecuritiesMaintains13.0
PNCB of A SecuritiesMaintains123.0
HBANB of A SecuritiesMaintains11.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at