Inovio Pharmaceuticals (INO) Stock: Here’s Why It’s Falling!

Inovio Pharmaceuticals Inc (NASDAQ: INO)

Inovio Pharmaceuticals started the day off with big declines today, and for good reason. The company announced that a clinical hold has been placed on one of its clinical programs. Today, we’ll talk about what we’re seeing from the stock, the clinical hold, and later today, Kenny Soulstring will weigh in with what we can expect to see from INO ahead.

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What’s Going On With INO

As mentioned above, Inovio Pharmaceuticals is having an incredibly rough day in the market today. In pre-market hours, the company announced that a hold has been placed on a key clinical trial. As a result, declines commenced, continuing through the morning. Currently (10:16), INO is trading at $7.11 per share after a loss of $1.25 per share or 14.95%

Why We’re Seeing The Declines

The reason that we’re seeing the declines surrounding INO is relatively simple. Early this morning, it was announced that the U.S. Food and Drug Administration has placed a hold on the company’s phase 3 clinical program surrounding VGX-3100.

At the moment, the FDA hasn’t provided much news. It is expected that Inovio Pharmaceuticals will receive a formal letter with more complete information within the next 30 days. The question the FDA did have surrounded the shelf-live. Essentially, the FDA has requested to see additional data supporting the shelf-life of the treatment. INO said that it will be working diligently to work with the FDA to address its concerns. While the phase 3 clinical program surrounding VGX-3100 will be delayed, INO expects to pick up where it left off in the first half of next year.

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What We Can Expect Ahead

UPDATE – CNA Finance Chief Strategic Analyst, Kenny Soulstring has weighed in on INO. To read his analysis, click here!

Throughout the day, CNA Finance Chief Strategic Analyst, Kenny Soulstring will be analyzing the stock. Later on today, he will release his report. Be one of the first to receive the report by subscribing to Mr. Soulstring’s mailing list below!

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