INO Stock News: Inovio Pharmaceuticals Inc. rallies as investors buy the dip


  • NASDAQ:INO rebounded on Thursday as the stock rose by 7.05%.
  • Inovio still awaits resumption of Phase 2/3 clinical trials for INO-4800.
  • Gilead vaccine candidate has been the first COVID-19 treatment approved by the FDA.

NASDAQ:INO has fallen far enough according to investors as bargain hunters flocked back to the biotech firm on Thursday, pumping the stock price up by 7.05% to close the trading session at $11.24. While no real news emerged to warrant the spike, it should be noted that the broader markets rebounded after mixed results for most of the week. Despite the gains made on Thursday, shares traded at a lower volume than on average for Inovio which signals that a few big trades may have been the source for the price jump, given the higher volatility

Pharmaceutical giant Gilead Sciences (NASDAQ:GILD) received the first approval from the FDA for its COVID-19 vaccine candidate: remdesivir, also known as Veklury. While the drug previously received EUA or Emergency Use Authorization in May, the FDA has now given full approval as well as amending its EUA for use in pediatric patients. Veklury has been shown to reduce the recovery time of COVID-19 patients on average from 15 days to 10 days. Veklury has now been approved for use in nearly 50 countries around the world, including Australia, Canada, Iran, and Japan. 

Inovio Pharmaceuticals stock chart

INO stock price chart

So is this the end for Inovio in terms of a COVID-19 vaccine? Not necessarily, although the chances of INO-4800 being chosen and distributed are fading by the day. Scientists have said that multiple variations of COVID-19 vaccines will be needed to sufficiently control the spread worldwide so just because Veklury has been chosen now, it does not eliminate other vaccines from being chosen in the future. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD losses 1.1900 amid dollar’s comeback

EUR/USD has extended its gains, nearing 1.1950, but quickly turned negative now trading around 1.1880. The greenback recovers as equities fall as the market’s sentiment turns sour.

EUR/USD News

GBP/USD retreats from daily highs, holds around 1.3350

GBP/USD retreats from near 1.3400, partially undermined by Brexit woes but mostly on renewed dollar’s demand. Doubts arise about Chief EU Negotiator Barnier traveling to London.

GBP/USD News

XAU/USD trades with modest gains above $1810 level, lacks follow-through

A softer tone surrounding the USD assisted gold to gain some traction on Thursday. COVID-19 vaccine optimism might cap the upside for the safe-haven precious metal. Holiday-thinned liquidity warrants some caution before placing fresh directional bets.

Gold news

US Thanksgiving Wrap: Consumers carry October, November starts to look dicey

A triple dose of US data on Wednesday before the Thanksgiving holiday confirmed the strength of the consumer recovery even as employment problems again loom from the rising numbers of Covid-19 closures across the country.

Read more

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info

Forex MAJORS

Cryptocurrencies

Signatures