Inovio Plunges On Interim Phase 1 Coronavirus Data; DNA Vaccine Shows 94% Response Rate

Inovio Pharmaceuticals Inc INO shares were moving to the downside Tuesday after the vaccine maker released interim Phase 1 data for the study that is evaluating its DNA vaccine INO-4800 against SARS-CoV-2, the virus that causes COVID-19.

Inovio's Interim Phase 1 Efficacy, Safety Readouts: Announcing results from the first two cohorts of the Phase 1 trial, the Plymouth, Pennsylvania-based biotech said multiple immunology assays showed that 94% of participants demonstrated overall immunological response rates. 

The readout includes humoral and cellular immune responses conducted for the 1 mg and 2 mg dose cohorts after two doses at week six. 

The vaccine shots were administered intradermally using Inovio's Cellectra 2000 device.

The Phase 1 study enrolled 40 healthy adult volunteers ages 18-50 at two sites. Three participants had to be excluded from the immune analysis, as they tested positive for COVID-19 immune responses at study entry, suggesting prior infection. One was discontinued for reasons unrelated to safety or tolerability.

INO-4800 was generally safe and well-tolerated, and the 10 adverse events that were reported were low in severity and mostly local injection site redness, Inovio said. 

Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.

Inovio Joins Operation Warp Speed: The company said it has been selected to participate in a non-human primate challenge study as part of the U.S. government's "Operation Warp Speed."

INO-4800 is also being tested in a ferret challenge model.

What's Next For Inovio: Inovio said it plans to publish the full data set from the Phase 1 study in a peer-reviewed medical journal.

The Phase 1 trial is now expanded to add older participants in additional cohorts, the company said. 

The company reaffirmed its timeline for a Phase 2/3 trial, which is expected to start this summer, contingent upon regulatory clearance.

INO Price Action: Inovio shares were tumbling by 11.24% to $28.13 at the time of publication Tuesday, apparently due to investor disappointment over a lack of information on aspects such as neutralizing antibodies.

Related Links:

Inovio Analyst Downgrades COVID-19 Vaccine Developer, Says Risk Higher After Rally

Inovio Analyst Watches Coronavirus Play 'From The Sidelines'