INOO raised...can fund operations for three years...only one to show 100% effective
12:22 INO Inovio Biomed tgt raised to $4 at Rodman & Renshaw following results that demonstrate SynCon's protection against H1N1 virus ....................
Rodman & Renshaw raise their INO tgt to $4 from $2 following recent reports that the co's proprietary SynCon H1N1 influenza DNA vaccine achieved protection against the current circulating swine influenza A/H1N1 in pigs and mice. The firm notes that Of 6 pigs immunized, all developed HI titers exceeding the 1:40 level commonly associated with protective immunity. The firm believes that INO is amongst the first to demonstrate protection against the 2009 influenza A/H1N1 virus in a lethal challenge study. In addition, the firm notes that the co raised net proceeds of approximately $29 mln in a registered direct offering by selling 11.1 mln shares of common stock and warrants to purchase up to 2.8 mln additional shares of common stock, which according to the firm should be sufficient to fund operations for the next 3 years at the co's current cash burn rate.
29-Jul-09 08:28 ET INO Inovio Biomed universal influenza vaccines demonstrate 100% protection against current pandemic A/H1N1 influenza viruses in animal studies .... Co announced that the company's SynCon H1N1 influenza DNA vaccines achieved protection against current circulating swine origin influenza A/H1N1 viruses in animal studies. The company had previously reported interim data from an ongoing study in a pig model in which the SynCon based H1N1 vaccines achieved hemagglutination inhibition (HI) titers above the protection threshold in 100% of the vaccinated animals against the swine influenza virus (A/Iowa/35233/1999). In a continuation of this study, Inovio investigators tested the immune sera for responses against a virus isolated from the current circulating strain of swine origin influenza A/H1N1 (Swine A/Mexico/InDRE4487/2009). All the animals immunized with the SynCon H1N1 vaccine developed HI titers exceeding the 1:40 level commonly associated with protective immunity. In a second study, the investigators immunized mice with the NP and m2E components of the vaccine and challenged these animals with a second related strain also isolated from the current circulating influenza A/H1N1 (A/Canada/AB/RV1532/2009). While all mice showed effects of virus challenge as judged by significant weight loss, the vaccinated mice recovered from virus infection-induced morbidity significantly faster compared to the non-immunized control animals.