Inovio Pharmaceuticals Inc (INO)

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Why Inovio Stock Is Performing Better

Recent events have made Inovio stock extremely profitable. At the end of January, INO jumped about 11% when the company announced a partnership with Beijing Advaccine Biotechnology. The two outfits are working together on INO-4800, Inovio’s COVID-19 vaccine.
Recently, Inovio also announced that it is accelerating plans for human trials of INO-4800. The company said its trials will start in the U.S. by April, with 30 people. It will also extend trials to China and South Korea before April is over, with 3,000 doses for all the trials. Also, Inovio said it will have 1 million doses by the end of 2020. On that news alone, INO jumped 70% in a day.
On Friday, INO closed at $14.09 after jumping almost 44%. This was probably in response to U.S. President Trump’s $8.3 billion emergency announcement. Although the announcement did not mention any companies, in particular, it probably boosted faith in INO.
The company’s stock has also further jumped from its last close and had a premarket price of $16.27 after climbing over 15%. The company boasts of over 304% returns in the last 1 month and 327% year-to-date (YTD) gains.
At the moment of writing, its price is $17.67 and it is more than 25% up today.