A Benchmark Research analyst expects that the Food and Drug Administration will allow Inovio Pharmaceuticals Inc.'s (INO) COVID-19 vaccine candidate to move to a Phase 2/3 study. Benchmark's Aydin Huseynov noted that while the Phase 1 efficacy data provided by Inovio ( ) before the market opened on Tuesday morning was "insufficient to make a judgment call about the future utility of the vaccine," he is still encouraged by the news. He reiterated a buy rating. The company's stock was down 23.7% in trading on Tuesday. Since the start of the year, Inovio's stock has soared 628.3%, while the S&P 500 is down 5.5%.
-Jaimy Lee; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 30, 2020 14:30 ET (18:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.