Why Inovio Pharmaceuticals Stock Is Sinking Today
Shares of Inovio Pharmaceuticals (NASDAQ: INO) were sinking 11.8% lower as of 11:01 a.m. EDT on Tuesday. The decline came after the biotech announced interim results from an early-stage clinical study of COVID-19 vaccine candidate INO-4800. Inovio referred to the data as "positive." However, industry observers didn't think the company disclosed enough information to draw any meaningful conclusions about the efficacy of the experimental vaccine.
Inovio stated that 94% of the 40 participants in its early-stage study "demonstrated overall immune responses" six weeks after receiving two doses of INO-4800. The problem, though, is that the biotech didn't provide any details about how many patients produced neutralizing antibodies. These antibodies prevent infection by the novel coronavirus.
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Source Fool.com