Why Shares of Inovio Pharmaceuticals Rallied Today
Shares of biopharma outfit Inovio Pharmaceuticals (NASDAQ: INO) are up on the order of 5% in Tuesday's late trading following confirmation from the company that trails of its COVID-19 vaccine are being allowed to proceed into phase 3 testing.
It may be late to the party, but better late than never. On Tuesday, Inovio Pharmaceuticals announced its COVID-19 vaccine candidate INO-4800 has been given the Food and Drug Administration's (FDA) authorization to begin phase 3 trials. The FDA had postponed this trial in order to gather more information about the therapy. This authorization is not an outright approval of the drug in the U.S., but it does bode well for its ultimate eventual approval. A handful of other countries have already given Inovio the green light to proceed with testing that could eventually mean INO-4800 is administered in those countries.
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Source Fool.com
