Why Inovio Pharmaceuticals Stock Bolted Higher Today

Shares of Inovio Pharmaceuticals (NASDAQ: INO), a developmental-stage vaccine company, are heating up today. Specifically, the biotech's stock is up by a noteworthy 10.32% as of 11:30 a.m. EST. 

What's behind this double-digit rally? Inovio's shares are responding positively to the news that the Coalition for Epidemic Preparedness Innovations (CEPI) awarded the biotech a grant worth up to $9 million to develop a vaccine for the deadly coronavirus strain spreading across Asia at the moment. 

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Source Fool.com