Saturday, November 13, 2021 2:09:05 AM
Marty Shtrubel TipRanks
PUBLISHED
NOV 12, 2021 6:22PM EST
Remember Inovio (INO, the small biotech punching above its weight and mingling with pharma giants in the early attempts to stamp out the Covid-19 pandemic?
The company was one of the frontrunners in the race to bring a Covid vaccine to market, but that was eons ago in stock market terms with the stock only trending in one direction (down) since mid-2020’s improbable peaks.
Inovio has struggled to get its Covid-19 DNA vaccine INO-4800 beyond the mid-stage of testing (at least in the US), and in fact, for the past 14 months the FDA had put the brakes on its development as the regulatory body wanted to gather more info on the vaccine and the proprietary delivery device via which it is administered.
However, after a long review period, the FDA has finally given its blessing for the Phase 3 study to commence, making the US the 7th country to approve the late-stage trial.
But with various vaccines available and the pandemic already on the backfoot domestically, is it too late to make a meaningful impact? Not according to Oppenheimer’s Hartaj Singh.
“The lifting of the US FDA partial clinical hold is important, for regulatory and future commercial purposes,” the 5-star analyst said. “With the pandemic potentially receding in the US (COVID-19 infections falling), the company still expects to recruit less than 10% of its INNOVATE patients from the US. However, the gravitas of an FDA imprimatur and the potential of future US approval are important.”
There have been other recent positive developments. India has also signed up for the trial, and INO and the Colombia Ministry of Health and Social Protection have signed a memorandum of understanding (MoU) to develop Covid-19 and possibly other vaccines. Additionally, realizing INO-4800’s inherent advantages - the vaccine can be kept at room temperature for more than a year – the WHO has jumped on board and initiated a global Phase 3 trial. Singh anticipates interim readouts from the global Phase 3 INNOVATE study “as early as 1H22.”
All in all, Singh rates INO an Outperform (i.e., Buy along with a $35 price target. This figure puts the upside potential at a whopping 376%. (To watch Singh’s track record, click here
The Street’s average target is a more modest $17.25, yet the shares could still gain 135% should the objective be met over the coming months. Rating wise, the outlook is more subdued; Based on 2 Buys, 2 Holds and 1 Sell, the consensus view is that INO stock is a Hold.
https://news.google.com/articles/CBMiaWh0dHBzOi8vd3d3Lm5hc2RhcS5jb20vYXJ0aWNsZXMvaW5vdmlvLXN0b2NrLWF0LSUyNDM1LWEtc2hhcmUtdGhpcy1hbmFseXN0LXRoaW5rcy1pdHMtcG9zc2libGUtMjAyMS0xMS0xMtIBbWh0dHBzOi8vd3d3Lm5hc2RhcS5jb20vYXJ0aWNsZXMvaW5vdmlvLXN0b2NrLWF0LSUyNDM1LWEtc2hhcmUtdGhpcy1hbmFseXN0LXRoaW5rcy1pdHMtcG9zc2libGUtMjAyMS0xMS0xMj9hbXA?hl=en-US&gl=US&ceid=US%3Aen
Recent INO News
- INOVIO Announces Pricing of Approximately $36 Million Underwritten Offering of Common Stock and Pre-Funded Warrants • PR Newswire (US) • 04/15/2024 10:39:00 PM
- INOVIO to Participate in The Citizens JMP Novel Therapeutics Forum at Penn Medicine • PR Newswire (US) • 03/26/2024 10:28:00 PM
- INOVIO Reports Fourth Quarter and Full Year 2023 Financial Results and Operational Highlights • PR Newswire (US) • 03/06/2024 09:05:00 PM
- Geneos Therapeutics to Present New Clinical Data on GNOS-PV02 at the 2024 American Association for Cancer Research (AACR) Annual Meeting • PR Newswire (US) • 03/06/2024 12:00:00 PM
- U.S. Stock Futures Gain Ahead of Economic Insights; Oil Prices Climb • IH Market News • 03/06/2024 11:02:03 AM
- INOVIO to Report Fourth Quarter and Year-End 2023 Financial Results on March 6, 2024 • PR Newswire (US) • 02/21/2024 01:00:00 PM
- INOVIO to Present at the Oppenheimer 34th Annual Healthcare Life Sciences Conference • PR Newswire (US) • 02/07/2024 04:46:00 PM
- INOVIO Reports Inducement Grant Under Inducement Plan • PR Newswire (US) • 02/02/2024 01:00:00 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 02/01/2024 05:15:24 AM
- Form S-3/A - Registration statement under Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 01/26/2024 09:01:33 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/25/2024 09:02:31 PM
- INOVIO Announces Effective Date of 1-for-12 Reverse Stock Split • PR Newswire (US) • 01/23/2024 01:00:00 PM
- INOVIO to Participate in Virtual Fireside Chat on the Potential Treatment of Recurrent Respiratory Papillomatosis with Key Opinion Leader • PR Newswire (US) • 01/22/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/12/2024 10:27:59 PM
- INOVIO and Coherus Announce Clinical Collaboration to Advance Development of INO-3112 in Combination with LOQTORZI™ (toripalimab-tpzi) • PR Newswire (US) • 01/04/2024 01:00:00 PM
- INOVIO Plans to Submit a BLA for INO-3107 as a Potential Treatment for RRP in Second Half of 2024 Under Accelerated Approval Program • PR Newswire (US) • 01/03/2024 01:00:00 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 11/28/2023 09:05:57 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 11/17/2023 09:00:28 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 11/09/2023 09:35:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/09/2023 09:15:59 PM
- INOVIO Reports Third Quarter 2023 Financial Results and Operational Highlights • PR Newswire (US) • 11/09/2023 09:05:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/09/2023 09:00:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/02/2023 08:01:55 PM
- INOVIO Reports Inducement Grants Under Inducement Plan • PR Newswire (US) • 11/01/2023 12:00:00 PM
- INOVIO to Report Third Quarter 2023 Financial Results on November 9, 2023 • PR Newswire (US) • 10/26/2023 12:00:00 PM
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