- NASDAQ:INO sheds a further 2.95% on Friday as the stock continues to sink.
- Yet no sign that the FDA has loosened its stance on Inovio’s vaccine administrator: Cellectra 2000.
- Recent reports have indicated that although SARS-CoV-2 may be changing, existing vaccine candidates should still be effective.
NASDAQ:INO has continued to trend downwards as the stock dropped another 2.95% to close the week on Friday. From its high point on Tuesday, shares have plunged over 10% to its current price levels of $11.85 as Inovio approaches some of its lowest range of prices over the past six months. Shares have now dropped over 30% during the last month as investors grow weary of the future outlook of Inovio’s stalled COVID-19 vaccine candidate: INO-4800.
It is not only INO-4800 that the FDA had questions about, but the vaccine administrator as well. The Cellectra 2000 as it is named, issues a brief electrical pulse to open small skin pores where the vaccine enters and instructs cells to create the antigen. It remains unclear which part of the administrator the FDA had issues with. Shares have been beatdown ever since Inovio’s COVID-19 vaccine trials were paused and the longer that this goes on, it is likely that we will see the stock continue to struggle.
Inovio Pharmaceuticals stock
According to a report published by Australian scientists, the ongoing evolution of the COVID-19 virus, also known as SARS-CoV-2, should have little to no effect on existing vaccine candidates. The test the Australian scientists ran actually used INO-4800 on ferrets to test the vaccine candidate’s efficacy against two different strains of SARS-CoV-2. The results from both strains were that the ferrets had good responses to the vaccine in both cases. This can only be seen as good news for all of the horses in the Operation Warp Speed race that is currently underway, although Inovio continues to lag behind its rivals as time goes on.
Credit: FX Street