Can Inovio Recover From Its Huge Setback?

Inovio Pharmaceuticals (NASDAQ: INO) hasn't ranked among the leaders in the COVID-19 vaccine race so far. However, the small biotech has been a definite contender in the second tier of vaccine makers. Inovio hoped to separate from the pack by delivering impressive results with a planned late-stage study of its COVID-19 vaccine candidate INO-4800.

That plan just ran into a major obstacle, though. Inovio announced last Friday that the U.S. Department of Defense has decided not to fund the company's phase 3 study. The news caused the biotech stock to plunge 26%. Can Inovio recover from its huge setback?

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Source Fool.com