INO stock has been moving up over the past few trading session due to the bullish move in the broader biotech sector. Let’s have a look at the recent developments from Inovio Pharmaceuticals Inc (NASDAQ:INO).
Over the past few days, a little known and historically poorly performing biotech company called Inovio Pharmaceuticals has been in the news. Currently, it has a valuation of $255 million, and over the course of the past half a decade, INO stock has lost around 75% of its value.
At this point in time, the company has four products under development, and from among those, VGX-3100 is the most promising. The medicine is meant for targeting pre-cancerous cells, and since it is a non-invasive treatment, there is a degree of excitement about it. The company has completed enrollment for a Phase 3 study, but it should be noted that results won’t be announced until the fourth quarter of 2020. The other products that the company is developing are being backed by well-known institutions and pharmaceutical companies, which is why there is cause for optimism.
At the time of writing, INO stock is trading lower by 2% at $2.59
INO-5401, which is aimed at glioblastoma, a rare form of brain cancer, is currently in the middle of its Phase 2 trial. Regeneron Pharmaceuticals (NASDAQ:REGN) is a joint sponsor of the product.
Another product that is in its Phase 2 trial is the head and neck cancer medicine MEDI-457, which is currently being tested in conjunction with an AstraZeneca (NYSE:AZN) product. The last one is the prostate cancer product INO-5151, which is also in its Phase 2 trial and is being backed by the Cancer Research Institute and the Parker Institute for Cancer Immunotherapy, among others.
It goes without saying that these are promising developments, but without any of the candidates passing their Phase 3 studies yet, it may be too early to bet on the historically underperforming INO stock.
Featured image: DepositPhotos © nikesidoroff