Inovio Pharmaceuticals Inc (INO)

[cameron12x]

The reason for the initial disappointment was that the primary endpoint was 52%. (Everyone should remember this and not deny it.)

We reached 49.5% for the primary endpoint (w/statistical significance) so while the data wasn't "bad," it wasn't stellar either. I believe many of us were expecting closer to a 60% rate. Had we been at 52% or better, I believe the stock would be sitting at $14-15 now. That was the "magic number," and we just missed it by a hair.

Still, with significant mining of subgroup cohort data, I believe we'll see VGX-3100 proceed to a P3 trial.