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Inovio’s shares plummet by 33% when COVID-19 vaccine trial is suspended



Shares of Inovio Pharmaceuticals Inc.
NOT ME,
+ 10.21%

were halted and then fell 33.6% when pre-market trading resumed on Monday, when the company said the Phase 2/3 clinical trial for its COVID-19 vaccine candidate was in a “clinical suspension. partial “while answering further questions from the Food and Drug Administration. The suspension is not due to an adverse event, which is what put the phase 3 study on hold for AstraZeneca
AZN,
+ 2.47%

AZN,
+ 0.02%

and the Oxford University̵

7;s experimental coronavirus vaccine. Inovio said in a press release that he is working to answer the regulator’s questions, he plans to answer the FDA in October, and then the agency has 30 days to issue its decision on whether the process can go ahead. Phase 1 testing is still ongoing. Shares of Inovio have risen 413.3% so far this year, while the S&P 500
SPX,
+ 1.59%

increased by 21.%.


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