Inovio Stock: Buy, Sell, or Hold?
Inovio Pharmaceuticals (NASDAQ: INO) has been grabbing a lot of headlines over the past few weeks, mostly thanks to its involvement in the race to find a vaccine for COVID-19. The company claimed to have come up with its potential vaccine, INO-4800, in a mere three hours after Chinese researchers publicly published the genetic sequence of the SARS-CoV-2 virus that causes COVID-19. Inovio initiated a phase 1 clinical trial for this vaccine in early April.
The study initially enrolled 40 volunteers and was supposed to test the vaccine's safety and immunogenicity. Four out of the original 40 participants did not complete the study. Three of them tested positive for COVID-19, indicating that they contracted the virus before enrolling in the study. Another participant dropped out of the study because of reasons "unrelated to safety or tolerability."
The company recently reported interim data from this study that did not impress investors (more on that below). As a result, the stock is down by more than 30% since June 30.
Source Fool.com
