Why Inovio Pharmaceuticals Stock Is Rising Today
Inovio Pharmaceuticals (NASDAQ: INO), a pre-revenue vaccine company, saw its shares rise by as much as 10% in pre-market trading Monday morning. The biotech's shares appear to be responding to the news that Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, through their Chan Zuckerberg Initiative, will donate $25 million to Bill Gates' accelerator program designed to speed up the development of various COVID-19 therapies.
Inovio is currently developing a COVID-19 vaccine called INO-4800. The vaccine is slated to begin human trials next month. Top-line data from this highly anticipated trial should be available this fall, according to the company. While it will likely take years to get a full regulatory approval for any vaccine, Inovio plans on having 1 million doses of INO-4800 available for emergency purposes before the end of the year.
Image source: Getty Images.
Source Fool.com
