Ever since the coronavirus crisis hit the world, plenty of companies have become involved in trying to create a vaccine for the same, and one company that has been in the news for its efforts is Inovio Pharmaceuticals Inc (NASDAQ:INO). The company has been working on a coronavirus vaccine over the past weeks, and on Tuesday, it made a major announcement.
Inovio announced that it had completed the enrolment of patients for the Phase 1 clinical trial of its coronavirus vaccine INO 4800. It is another major milestone for the company as it tries to win the race to the first coronavirus vaccine.
The news was received with great enthusiasm by the market and the shares soared by as much as 5% on the back of the update. The company also announced that all the participants in the trial had been administered their first dosage, and the data from the trial will become available at some point in June 2019. It should be noted that companies like iBio and Moderna are also working on a coronavirus vaccine. Moderna is, in fact, all set to start a Phase 2 study of its coronavirus vaccine.
INO stock has performed admirably in 2020 so far and have gained four-fold so far this year. The company’s work with the coronavirus vaccine has brought it into the limelight over the course of the past weeks. While that is a major development in itself, it should be noted that Inovio still has a long way to go before its vaccine can actually hit the market.
On the other hand, it has made significant progress with regards to its lead candidate VGX 3100, which is meant for treating anal dysplasia and vulvar dysplasia. The company released positive results from two middle stage studies of the medicine in March. Inovio is also aiming to work on a vaccine for other diseases like AIDS, Zika, and Ebola, among others.