U.S. markets open in 6 hours 12 minutes

Why Inovio Pharmaceuticals Plunged 20% Today

Madeleine Johnson

Shares of biotech company Inovio Pharmaceuticals INO fell sharply on Tuesday after announcing updates to its Covid-19 vaccine candidate, INO-4800. INO plunged 20% during the day before climbing back a bit into close.

Inovio said its early-stage clinical study showed positive results and that the vaccine was considered safe and well-tolerated; 94% of the 40 participants “demonstrated overall immune responses.”

However, investors were hoping for more concrete information about the efficacy of the vaccine, and Inovio didn’t provide any information about how many patients produced antibodies. The antibodies are key: they prevent infection by the coronavirus.

Inovio hopes to begin a phase 2/3 clinical study this summer after getting FDA approval.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Inovio Pharmaceuticals, Inc. (INO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research