INO Stock News: Inovio Pharmaceuticals Inc suffers Pfizer's upcoming COVID-19 vaccine approval
- NASDAQ: INO is set to extend its fall for the fourth day in a row.
- The FDA's upcoming approval of the Pfizer/BioNTech COVID-19 vaccine shows Inovio is behind.
- Bargain-seekers may want to examine Inovio Pharmaceuticals' other products.
Can a small firm compete with Big Pharma? That has always been the question for Inovio Pharmaceuticals Inc (NASDAQ: INO) – and in recent days the answer seems to be negative. Investors are selling the stock in the past three days, and Thursday will likely be a down day as well.
The Plymouth Meeting, Pennsylvania-based company is working on a COVID-19 vaccine but ran into bumps along its way. The Food and Drugs Administration (FDA) demanded clarifications from Inovio about its administering the immunization using the Cellectra 2000 device. That has delayed the full rollout of the company's INNOVATE Phase 3 trial of the INO-4800 vaccine candidate.
One of the reasons for the most recent decline comes from the FDA as well, and also correlated to coronavirus – the highly-regarded regulator is set to approve the Pfizer/BioNTech jab, following a successful Phase 3 trial. Moderna's jab will likely receive the green light next week.
Has Inovio lost the race? Not so fast.
Inovio Pharmaceuticals Stock
Inovcio Pharmaceutical's shares are changing hands at $11.25 in premarket trading, down another 1.57% after slipping 4.35% on Wednesday. They are down over 10% from the closing price of $12.60 on Friday but still above the late November trough of $10.15. The coronavirus-dominated year has been turbulent for INO's stock, which ranged from a low of $2.42 to $33.79 in the past 52 weeks.
NASDAQ: INO still has room to run, including on a covid vaccine. Doses can survive a full month at 37 Celsius. Pfizer's material has weak thermostability, expiring after five days in room temperature – after coming out of extremely cold -80C storage conditions.
While Moderna's thermal profile is better, it still requires cooling and a regular injection, something that Inovio's vaccine bypasses by using the special Cellectra 2000 device.
Moreover, NASDAQ: INO's recent decline may provide a buying opportunity for those seeking a longer-term investment. It is essential to note that the company run by CEO: J. Joseph Kim is focused on the promising genetic field to develop treatments for cancer and infectious diseases – not only COVID-19.
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Author
Yohay Elam
FXStreet
Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.
