Pennsylvania-based Inovio Pharmaceuticals Inc experienced a rise in share price following the company’s latest breakthrough regarding the development of its COVID-19 vaccine candidate.
As phase 1 test data showed, Inovio’s vaccine candidate, known as INO-4800, has been shown to be immunogenic in all test subjects. There was also no trace of any serious side effects on test subjects; only a few minor reactions.
Arguably the biggest selling point for the Inovio vaccine is that it’s the first vaccine candidate that can be stored at room temperature and still be effective. This is in stark contrast to the Moderna vaccine, which requires to be stored at a temperature of negative 20 degrees Celsius, and Pfizer, which is to be stored and transported in conditions of negative 70 degrees Celsius.
While Inovio shares have declined by 53.3% since competitors have pulled ahead in the vaccine race, the company has enjoyed a 205% rise in share values since the start of this calendar year.
So long as Inovio’s vaccine is considered to be safe and effective, it could become one of the widely-adopted COVID-19 vaccines, competing with the likes of vaccines from Moderna and Pfizer.
With the global coronavirus vaccine market estimated to be worth $10 billion, Inovio finds itself in a strong financial position with a $1.7 billion market cap.
