INO) shares have been seeing strong momentum ever since hitting a near-term low of $8.78 on Sept. 4.
The momentum is continuing in Monday’s session, with the stock holding up despite the major averages plunging by about 2% and across-the-board weakness seen among shares of coronavirus vaccine developers.
The strength comes despite the odds that are by the Plymouth, Pennsylvania-based company.
MRNA), Pfizer Inc. (NYSE: PFE)/BioNTech SE – ADR (NASDAQ: BNTX) and AstraZeneca plc (NYSE: AZN) arguably have the finish line in sight for a coronavirus vaccine.
Inovio is developing a DNA vaccine codenamed INO-4800, as opposed to Moderna and Pfizer/BioNTech, both of which are working on mRNA vaccines.
The Phase 1 study of INO-4800 commenced in early April and evaluated 40 healthy volunteers ages 18-50 who were given either a 1mg dose or 2mg dose at week zero and a second dose at week four.
non-human primate animal challenge studies.” data-reactid=”30″>The interim efficacy and safety data were encouraging. The company also reported positive results from non-human primate animal challenge studies.
INO-4800 has been evaluated in a Phase 1/2a study in South Korea since June.
Inovio has a September start timeline for a Phase 2/3 efficacy study in the U.S.
A study protocol is being developed to assess efficacy in high-risk population, according to the company.
CEO Joseph Kim is set to present at the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit at 10:50 a.m. Wednesday.
The last time Kim made a public presentation, the stock soared about 64% over two sessions.” data-reactid=”36″>The last time Kim made a public presentation, the stock soared about 64% over two sessions.
About 31.58% of the float has been sold short.
This reflects a bearish disposition among traders and also portends the risk of short squeeze in the event of positive catalysts.
The short ratio is a not-so-elevated 3.3 days, given the huge average trading volume.
At last check, Inovio shares were adding 3.82% to $17.65.
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