Why Inovio Pharmaceuticals, Novavax, and Vaxart Crashed in October

Developmental-stage COVID-19 vaccine stocks continued their recent downward trend last month. Over the course of October, for instance, Inovio Pharmaceuticals (NASDAQ: INO) lost 16.1% of its value; Novavax's (NASDAQ: NVAX) stock fell by 23%; and Vaxart's (NASDAQ: VXRT) shares retreated by a noteworthy 28.2%, according to data from S&P Global Market Intelligence.

Each of these pre-revenue vaccine companies has now lost over 50% of their value since hitting all-time highs last summer. The SPDR S&P Biotech ETF -- a proxy for the broader biotechnology industry, by contrast, has actually gained close to 20% over this same time period. 

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Source Fool.com