Inovio Pharmaceuticals, Inc. (NASDAQ: INO), a biotechnology company has recorded an increase of 35.88% in its shares price as it has gained +4.89 on Wednesday. Inovio Pharmaceuticals has earlier participated in H.C. Wainwright 22nd Annual Global Investment Conference on September 14 where its CEO J. Joseph Kim has made two statements that excited its investors.
CEO J. Joseph disclosed that the Phase 1 study of its coronavirus vaccine candidate INO-4800 is currently in the peer review. He also revealed that the Inovio will soon announce the result of peer review in the coming weeks. Secondly, Inovio’s CEO said that the company is planning to start phase 2/3 testing for its investigational vaccine. The biotech company is waiting for the FDA approval for phase 2/3 which the company expects will happen soon. Inovio said that it is confident that it will receive the funding for the upcoming trials of the vaccine.
Inovio Pharmaceuticals is scheduled to participate in the upcoming two conferences including Cantor Global Healthcare Conference on September 17 and Oppenheimer Fall Healthcare Life Sciences & MedTech Summit which will take place on September 23. Investors expected that the biotechnology company will announce the exciting news soon.
Inovio Pharmaceuticals (NASDAQ: INO) shares were trading up 35.88% at $18.52 at the time of writing on Thursday. INO share price went from a low point around $1.91 to briefly over $33.79 in the past 52 weeks. It has moved up 867.10% from its 52-weeks low and moved down -45.19% from its 52-weeks low. If we look at its liquidity, it has a current ratio of 10.10. Inovio market cap has remained high, hitting $2.99 billion at the time of writing.
The company has earlier shared the result from the Phase 1 clinical trial of the coronavirus vaccine candidate but the industry investors were not satisfied with the result as the company didn’t give any details about immune responses in patients. But it is expected that the upcoming peer review could clear the doubts of industry observers.
Shares of Inovio Pharmaceuticals has experienced an unusual options activity on Wednesday trading session. The large volume is one option activity that is considered to be unusual. The volume of options activity means the number of shares contracts traded for a day. INO has experienced bullish sentiments which means to buy at/near ask price or a put is sold at/near bid price.
Previously, Inovio Pharmaceuticals has signed a contract with Thermo Fisher Scientific for the development of a coronavirus vaccine candidate, INO-4800. Inovio is planning to make the 100 million doses of INO-4800 by 2021 after receiving FDA approval.