Inovio Pharmaceuticals Inc (NASDAQ: INO) is having an overwhelmingly strong start to the trading session this morning after announcing that it has entered into a partnership that includes funding in the amount of $56 million. As you could imagine, the news led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about:
- The partnership news;
- what we’re seeing from the stock as a result;
- and what we’ll be watching for with regard to INO ahead.
INO Announces Partnership
As mentioned above, Inovio Pharmaceuticals is having an incredibly strong start to the trading session this morning after announcing that it has entered into a partnership. In a press release issued early this morning, the company announced that it has entered into a partnership agreement with the Coalition for Epidemic Preparedness Innovations, also known as CEPI. According to the press release, the two will work together to develop vaccine candidates against Lassa fever and Middle East Respiratory Syndrome (MERS).
Under the terms of the agreement CEPI will be providing INO with $56 million in funding for pre-clinical and clinical advancement through Phase 2 of INO-4500, the company’s Lassa fever vaccine. The funds will also be used to develop the MERS vaccine, known as INO-4700. In a statement, Richard Hatchett, CEO at CEPI, had the following to offer with regard to the agreement:
Epidemics don’t respect borders; they destroy lives and devastate economies and we need to move swiftly to prepare for them. Partnering with Inovio is a considerable move forward for CEPI’s vaccine portfolio and developing a global insurance policy against these diseases.
The above statement was followed up by Dr. J. Joseph Kim, President and CEO at INO. Here’s what he had to offer:
The Inovio/CEPI partnership demonstrates the confidence of both organizations in Inovio’s DNA vaccine platform to rapidly produce countermeasures against emerging viral threats potentially protecting large populations from a pandemic. A key demonstration of such capabilities was that Inovio was the first organization to develop, manufacture and report positive human data from a Zika vaccine in less than seven months – when traditional vaccines take several years to reach this point. We look forward to addressing the global health challenges of emerging infectious diseases.
What We’re Seeing From The Stock
Considering the news surrounding the partnership and $56 million investment to be made with Inovio Pharmaceuticals, it’s no surprise to see that excited investors are sending the stock on a tear for the top this morning. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:05), INO is trading at $5.03 per share after a gain of $0.27 per share or 5.67% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on INO. In particular, we’re interested in following the story surrounding the company’s work with CEPI and we’re excited to watch as this collaboration gets kicked off. We’ll also be following the company’s efforts with regard to bringing the rest of its robust pipeline to market. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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