Why Hasn't Inovio Won a Huge Coronavirus Vaccine Deal from Washington Yet?
So far, the U.S. government has awarded more than $6 billion to companies developing potential COVID-19 vaccines -- and not all of these funds have gone to American companies. U.K.-based drugmaker AstraZeneca (NYSE: AZN), for example, received up to $1.2 billion in funding from the Biomedical Advanced Research and Development Authority (BARDA) in May.
U.S.-based biotech Inovio Pharmaceuticals (NASDAQ: INO), though, has gotten the short end of the stick when it comes to federal financial support for its COVID-19 vaccine candidate, INO-4800. Sure, the Defense Department awarded it a $71 million contract to manufacture its Cellectra smart devices, which would be used to administer INO-4800. But that's chump change compared to the agreements worth close to $1 billion and a lot more that other drugmakers have secured.
Why hasn't Inovio won a huge coronavirus vaccine deal from Washington, D.C., yet?
Source Fool.com
