Why Inovio Pharmaceuticals Stock Topped the Market on Monday
Inovio Pharmaceuticals (NASDAQ: INO) stock rose slightly on an otherwise gloomy day for the wider market. Investors were cheered by the appointment of a new chief medical officer at their company.
That morning, Inovio announced that it had tapped Michael Sumner to be its new chief medical officer. This is hardly Sumner's first time in that position; according to his LinkedIn page, he has held that job at Orexo US, an American unit of the eponymous Swedish healthcare company, since August 2013. Previous to that, he worked in various positions at U.K. pharmaceutical company Shire in a stint that lasted roughly six years, and also held positions at Novartis and Novo Nordisk.
At Inovio, Sumner is specifically to "oversee Inovio's clinical-stage pipeline of DNA medicines, global clinical development, clinical operations, and biostatistics efforts, as well as regulatory affairs, pharmacovigilance, and medical affairs," among other duties, the company wrote in the press release trumpeting his appointment.
Source Fool.com
