Inovio Pharma Stops Work On INO-4800 As COVID-19 Heterologous Booster - Inovio Pharmaceuticals (NASDAQ:INO)

Inovio Pharmaceuticals Inc INO discontinued its internally funded efforts to develop INO-4800 as a COVID-19 heterologous booster vaccine.
Jacqueline Shea, CEO & President, stated: "Our assessment of the current global demand for COVID-19 vaccines, changes in regulatory timelines and requirements, diminishing government financial support, and the overall growing uncertainty related to opportunities for heterologous booster vaccines have resulted in our decision to discontinue internal funding efforts to develop INO-4800 as a heterologous booster vaccine."
In May, the company said it would focus on testing INO-4800 as a booster to other vaccines (making it a "heterologous" booster) rather than a primary series vaccine option.
The company will reallocate resources and focus efforts on other product candidates in the pipeline, such as INO-3107 and INO-5401, which recently reported positive Phase 1/2 data for their respective targeted indications in recurrent respiratory papillomatosis and glioblastoma. W
INOVIO's partner in China, Advaccine, will continue to develop INO-4800 as a COVID-19 heterologous booster vaccine with its resources.
Advaccine is currently analyzing the data from its heterologous boost trial with INO-4800.
Inovio plans to continue preclinical efforts to investigate the potential for a pan-COVID-19 vaccine candidate based on its DNA medicines technology.
Price Action: INO shares were up 0.73% at $2.08 on the last check Friday.