Here's Why Inovio Pharmaceuticals Popped Today
Shares of Inovio Pharmaceuticals (NASDAQ: INO) rose nearly 10% today after the company received an abundance of favorable media coverage over the weekend. In an interview with Yahoo Finance's On the Move, CEO Joseph Kim said the company had developed its experimental vaccine against the novel coronavirus strain hours after receiving the genetic sequence of the virus.
That news was amplified by various local and national media outlets. For instance, the Los Angeles Times ran a story with a headline, "Is a vaccine for the coronavirus coming? Inovio says it has designed one in San Diego".
The gains quickly dissipated, however. As of 1:08 p.m. EST, the pharma stock had settled to a 1% gain.
Source Fool.com
