Inovio Pharmaceuticals Inc (NASDAQ:INO)
Inovio Pharmaceuticals Inc (NASDAQ:INO) has offered a glimpse into its plans for its Ebola vaccine candidate, that has entered clinical trials, and is showing positive results according to preliminary data shared by the company.
In what seems to signal that Inovio is edging closer to commercialization of its Ebola vaccine products, the company’s President and CEO, J. Joseph Kim, said recently that they plan to meet with regulators this year to discuss the development and licensing pathway of their Ebola products.
Preliminary data show 95% success rate with Ebola vaccine
The CEO’s comment was contained in a press release in which Inovio Pharmaceuticals Inc (NASDAQ:INO) revealed how the clinical study of its Ebola vaccine candidate is yielding positive results. The company said that an expanded trial of the vaccine called INO-4201 showed that 95% of subjects responded positively to the drug with results that were notably better than those of rival Ebola vaccines. The 95% success cited represents 170 subjects out of 179.
Favorable safety profile
Besides subjects responding to the treatment with superior Ebola-specific antibody immune response, Inovio Pharmaceuticals Inc (NASDAQ:INO) further noted that INO-4201 was well-tolerated and demonstrated a higher safety profile than its rivals. Other Ebola vaccines have been associated with adverse side effects such as myalgia and fever.
Inovio also highlighted the ability of INO-4201 to continue to boost immune response with additional administration. It sees the drug as potentially suitable for rapid response to global infection breakouts.
Inovio’s INO-4201 now boasts strong preclinical and early stage clinical data to support its continued development.
Potential boost to financial fortunes
The success of INO-4201 could help Inovio Pharmaceuticals Inc (NASDAQ:INO) turn around its financial fortunes. Though the company doesn’t carry any long-term debt on its balance sheet, it has struggled to live up to Wall Street expectations. Its earnings track record shows EPS has missed expectations in three of the last four quarters. The company reported Q4 2016 earnings on March 15. Revenue of $8.5 million came short of consensus estimate of $5.95 million, while EPS loss of $0.35 widened from EPS loss of $0.25 a year earlier and also missed the consensus estimate of EPS of $0.30.
Inovio is receiving $45 million from DARPA to support the work on developing Ebola vaccine.
Shares of Inovio Pharmaceuticals Inc (NASDAQ:INO) closed at $6.15 on Tuesday after retreating $0.32. But the stock was rising earlier in the day following the release of the upbeat clinical update, hitting an intraday high of $6.25. The shares are down more than 11% since the beginning of the year and have retreated more than 33% over the last 12 months.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.