Why Inovio Shares Rose 61.7% in April

Inovio Pharmaceuticals (NASDAQ: INO) shares soared 61.7% in April, according to data provided by S&P Global Market Intelligence, as the company began human trials of its coronavirus vaccine.

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Inovio started a phase 1 trial of its DNA vaccine for COVID-19, the illness caused by the novel coronavirus, early in April and completed enrollment of 40 healthy adults later in the month. The clinical stage company also said it expanded its agreement with Richter-Helm BioLogics GmbH & Co. of Germany to cover large-scale manufacturing of the vaccine. A grant of $1.3 million from the Coalition for Epidemic Preparedness Innovations will partially fund the manufacturing effort.

Source Fool.com