Inovio Pharmaceuticals INO Stock News

Inovio Pharmaceuticals Inc (NASDAQ: INO) had an incredible day in the market yesterday, gaining nearly 70%. Those gains are continuing this morning, with the stock up more than 17% in the premarket.

The gains come after the company announced that it will accelerate its timeline for the development of a Wuhan coronavirus vaccine. In fact, the company now intends on initiating human trials as early as April of this year. Here’s what’s happening.

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INO Stock Gains On Accelerated Coronavirus Work

Recently, Inovio Pharmaceuticals announced that it was developing a DNA vaccine for COVID-19. The vaccine candidate is known as INO-4800.  While development for any vaccine or other medical agent can take some time, the company said that it would be accelerating development.

In fact, in the press release, INO published a timeline for the work that they are doing on the vaccine. In the timeline, the company said that it expects for human trials to start around April of 2020.

By the Fall, the company said that it would be publishing results from the clinical trial. Perhaps most importantly, the company said that by the end of this year, it would begin follow up trials and/or make the vaccine available for emergency use.

Also, the company said that by the end of this year, it expects to have 1 million doses of the vaccine produced. In a statement, Dr. J. Joseph Kim, President and CEO at INO, had the following to offer:

Inovio is the leader in coronavirus vaccine development and the only company with a Phase 2 vaccine for a related coronavirus that causes Middle East Respiratory Syndrome (MERS). Using our modern DNA medicines platform, we designed our DNA vaccine INO-4800 in three hours after the publication of the genetic sequence of the novel coronavirus that causes COVID-19.

We immediately began preclinical testing and small-scale manufacture and have already shared robust preclinical data with our public and private partners. We plan to begin human clinical trials in the U.S. in April and soon thereafter in China and South Korea, where the outbreak is impacting the most people. We plan on delivering one million doses by year end with existing resources and capacity. However, we will need additional resources to scale up to make enough doses to help protect Americans from COVID-19 as well as to lead global efforts to curtail this virus.

Why This News Is So Exciting

As we know, the Wuhan coronavirus, or COVID-19 is no small issue. In fact, the World Health Organization has designated a Public Health Emergency of International Concern of the highest level.

To date, there have been around 90,000 cases of the Wuhan coronavirus, with more than 3,000 people dying as a result. With such a major health issue hitting the globe, companies like Inovio Pharmaceuticals are racing to create a vaccine to address the virus.

Of course, the first company to create a viable vaccine is going to be in a great position to capitalize. Importantly, INO is in the top three in the race at the moment. So far, Moderna (NASDAQ:MRNA) has announced the initiation of human trials and Novavax (NASDAQ: NVAX) has announced that it has developed multiple candidates and that it is testing them in animals to see which will be the most viable for human testing.

With only three companies seeming to have vaccines that are ready or near ready for testing, and INO being one of them, there’s very good reason for investors to be excited here.

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