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Inovio Stock Slumps After Plans To Exclude US For COVID-19 Vaccine Candidate's Global Trial

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Inovio Stock Slumps After Plans To Exclude US For COVID-19 Vaccine Candidate's Global Trial
  • Inovio Pharmaceuticals Inc (NASDAQ: INO) shares dived in the premarket in reaction to the company's plans for a predominantly ex-U.S. Phase 3 trial for its COVID-19 vaccine candidate, INO-4800.
  • Given the increasing availability of vaccines authorized for emergency use, the Department of Defense Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense in coordination with the Office of the Assistant Secretary of Defense for Health Affairs and the Defense Health Agency, will discontinue funding for the Phase 3 portion of the INNOVATE trial, while continuing to fund the completion of the ongoing Phase 2 part.
  • With existing global collaborators such as Inovio's China partner, Advaccine, and the International Vaccine Institute, the company is planning for a predominantly ex-US global Phase 3 trial based on upcoming evaluation of Phase 2 safety and immunogenicity data.
  • Last week, the company reported results that showed INO-4800 induced a robust T cell response against all spike protein variants tested and provided similar levels of neutralizing activity against both the UK and Brazilian variants as those against the original strain.
  • Inovio continues to evaluate its pan-COVID variant vaccine, INO-4802, to protect against current and future variants of concern and assess boosting capabilities for INO-4800.
  • INO-4800 is a DNA vaccine candidate against SARS-CoV-2, composed of an optimized DNA plasmid. INO-4800 is delivered directly into cells in the body via a proprietary smart device to produce a robust and tolerable immune response.
  • Price Action: INO shares decreased 31% at $6.24 in the premarket on the last check Friday.
 

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