Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


Inovio Pharma Awarded $9M Development Grant for Coronavirus Vaccine

Share on Stocktwits


Inovio Pharmaceuticals' shares rose 30%, setting a new 52-week high price, after the firm reported it received a grant of up to $9 million to develop a vaccine against the coronavirus.

Among ongoing worldwide concerns, biotechnology firm Inovio Pharmaceuticals Inc. (INO:NASDAQ), which is focused on treating and preventing cancer and infectious diseases, recently announced that the Coalition for Epidemic Preparedness Innovations (CEPI) has "awarded it a grant of up to $9 million to develop a vaccine against the recently emerged strain of coronavirus (2019-nCoV) that has killed numerous people and infected hundreds more in China to date."

The firm further indicated that "the initial CEPI funding will support Inovio's preclinical and clinical development through Phase 1 human testing of INO-4800, its new coronavirus vaccine matched to the outbreak strain...and that CEPI previously awarded Inovio a grant of up to $56 million for the development of vaccines against Lassa fever and Middle East Respiratory Syndrome (MERS), also caused by a coronavirus."

Richard Hatchett, CEO of the CEPI, commented, "Given the rapid global spread of the 2019-nCoV virus the world needs to act quickly and in unity to tackle this disease. Our intention with this work is to leverage our work with Inovio on the MERS coronavirus and rapid response platform to speed up vaccine development."

Inovio's President and CEO Dr. J. Joseph Kim added, "We're extremely honored to expand our partnership with CEPI to tackle this new threat to global public health. Our DNA medicine platform represents the best modern day approach to combating emerging pandemics. We have already demonstrated positive clinical outcomes with our vaccine against MERS-CoV, another coronavirus. Importantly, following the Zika viral infection outbreak, Inovio and our partners developed a vaccine that went from bench to human testing in just seven months – the fastest vaccine development on record in recent decades. We believe we can further improve upon this accelerated timeline to meet the current challenge of the emerging Chinese coronavirus 2019-nCoV."

The firm explained in the report that "the CEPI is an innovative partnership between public, private, philanthropic, and civil organizations launched in Davos in 2017 to develop vaccines to stop future epidemics...To date, CEPI has committed to investing over $310 million in 12 vaccine candidates (five against Lassa virus, four against MERS-CoV, three against Nipah virus) and two vaccine platforms to develop vaccines against Disease X."

Inovio Pharmaceuticals, a biotechnology company headquartered in San Diego, Calif., states that it is bringing IMMUNO-INGENUITY to life and reshaping the future of treating and preventing cancer and infectious diseases. The firm notes that it is focused on the rapid development and deployment of precisely designed DNA medicines to treat, cure and protect people from HPV, cancer and infectious diseases.

Inovio started the day with a market capitalization of around $424.0 million with approximately 100.0 million shares outstanding and a short interest of about 10.5%. INO shares opened more than 30% higher today at $5.60 (+$1.36, +32.08%) over Friday's $4.24 closing price and reached a new 52-week high price this morning of $5.95. The stock has traded today between $5.10 and $5.95 per share and is currently trading at $5.53 (+$1.29, +30.42%).


1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

Want to read more about Biotechnology / Pharmaceuticals investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe