Inovio Shares Rise On Positive Data For Coronavirus Vaccine Candidate That's Stable At Room Temps
Inovio Pharmaceuticals Inc (NASDAQ: INO) stocks traded higher Thursday after the company released positive Phase 1 data for its COVID-19 DNA vaccine candidate.
What happened: On Wednesday, Inovio published a paper with phase 1 data on INO-4800 that was found to be immunogenic in all test subjects.
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In addition, Phase 1 testing identified no major safety adverse events and only six Grade I adverse events, most of which were minor injection site reactions.
Related Link: Why A COVID-19 Vaccine Makes General Electric Stock "More Investable"
Why It Matters: Inovio's INO-4800 coronavirus vaccine candidate didn't come close to winning the market race with vaccines from Pfizer Inc. (NYSE: PFE) and Moderna Inc (NASDAQ: MRNA) already approved by the FDA.
However, Moderna's vaccine must be stored and transported at temperatures of minus 20 degrees Celsius, and Pfizer's vaccine must be stored and transported at temperatures of minus 70 degrees Celsius, colder than winter temperatures in Antarctica.
INO-4800, however, is stable for more than a year at room temperature. Nor does it need to be frozen while the van is in storage, potentially making distribution faster and less expensive.
Inovio stocks are up 205% since the start of the year but are down 53.3% over the past six months as competing vaccine candidates seem to have been ahead in the race against the pandemic.
Petrol gas discontinuation: Provided it's as effective and safe as competing vaccines, Inovio's candidate could ultimately be the standard carrier for COVID-19 and future coronavirus vaccine variants.
Analysts have estimated the global COVID-19 vaccine market could be worth $ 10 billion annually. So it's understandable why Inovio investors are excited given the $ 1.7 billion market cap.
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