Plymouth Meeting-based Inovio Pharmaceuticals (NASDAQ: INO ), whose shares have bounced around more than a ping pong ball the past few weeks (see chart), hopes to start clinical trials for its CoronaVirus vaccine candidate in April, the AP reports:
Though the company has virtually no revenue, knowledgeable analysts who follow Inovio are bullish about its capabilities and other drugs in its pipeline. Its market value is slightly less than $1 billion.
It has secured up to $9 million in funding from Coalition for Epidemic Preparedness Innovations, and another $5 million from the Bill and Melinda Gates Foundation to fund development of a smart device for injecting the vaccine.
Meanwhile, a clinical trial for a different vaccine to protect against the new coronavirus will begin tomorrow in Seattle with one patient, the. AP reported.