- NASDAQ:INO gains 5.97% on Thursday, even as the NASDAQ fell by 76.84 basis points.
- Optimism builds as Inovio and its investors await word from the FDA.
- Inovio’s own numbers should not be ignored, as the world rallies around Pfizer and BioNTech’s vaccine candidate.
NASDAQ:INO has extended its rally off of its recent quarterly earnings report as the excitement surrounding biotech companies involved in the race for a COVID-19 vaccine increases. Inovio gained 5.97% on Thursday as the stock has rebounded by nearly 25% so far this week. The stock is still recovering from Inovio’s clinical trials being paused by the US Food and Drug Administration (FDA) and remains below the 50-day and 200-day moving averages. The recent rally signals that investors may be optimistic that the FDA could soon respond to Inovio about restarting its testing.
The announcement from Pfizer (NYSE:PFE) and BioNTech (NASDAQ:BNTX) about the efficacy of its vaccine during the final stage clinical trials sent the global financial markets into a frenzy to start the week. But Phase 1 of Inovio’s clinical trials back in June saw a 94% rate of immunity in patients from its vaccine candidate INO-4800. Once the FDA responds to Inovio, Phase 2 and 3 of its clinical trials should be able to commence with an optimistic timeline of late 2020 or early 2021.
Inovio Pharmaceuticals Stock
The recent success of Pfizer and BioNTech, as well as other companies such as Gilead Sciences (NASDAQ:GILD) and AstraZeneca (NASDAQ:AZN), has re-ignited investor interest in other potential vaccine candidates. While Inovio still remains a longshot to produce a leading vaccine for coronavirus, it also should comfort investors that just because Pfizer seemingly has a successful vaccine candidate, it does not rule out other potential candidates in the future.