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Why Inovio Stock Is Jumping Today

By Keith Speights – Aug 26, 2021 at 11:50AM

Key Points

  • Inovio and its partner Advaccine received authorization from Brazil's health regulatory agency to initiate a late-stage study of experimental COVID-19 vaccine INO-4800.

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The vaccine maker received some good news from Brazil.

What happened

Shares of Inovio Pharmaceuticals (INO -1.95%) were jumping 5.9% higher as of 11:07 a.m. EDT on Thursday after rising as much as 13.6% earlier in the session. The big gain came following Inovio's announcement that Brazilian regulators authorized the initiation of a phase 3 clinical study of COVID-19 vaccine candidate INO-4800.

So what

Inovio had previously announced in June that it was expanding a partnership with Advaccine Biopharmaceuticals Suzhou to conduct global phase 3 studies evaluating INO-4800. The company said at the time that the late-stage testing would primarily be done in Latin America and Asia. 

Gloved hands holding a syringe and a COVID-19 vaccine vial in front of a Brazilian flag.

Image source: Getty Images.

Today's news was welcomed by investors because they've waited a while for Inovio to advance INO-4800 into late-stage testing. The company had originally hoped to conduct a phase 3 study of its COVID-19 vaccine candidate in the U.S. However, Inovio was forced to change its plans earlier this year after the U.S. Department of Defense decided to discontinue funding for the U.S. late-stage study.

Now what

It's possible that more catalysts could be on the way for the vaccine stock. Advaccine is moving forward with two clinical trials in China evaluating INO-4800 and Sinovac's CoronaVac COVID-19 vaccine. Inovio also plans to report data for other pipeline candidates later this year.

Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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Stocks Mentioned

Inovio Pharmaceuticals Stock Quote
Inovio Pharmaceuticals
INO
$2.01 (-1.95%) $0.04

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