Clinical-stage biotechnology company Inovio Pharmaceuticals (NASDAQ:INO) was thrust into the spotlight in 2020 as an entrant into the race to discover a novel coronavirus vaccine. With that, INO stock has effectively been pigeonholed as a coronavirus stock and not much else than that.
Certainly, a case can be built in favor of INO stock as an asset that would gain value upon the company’s discovery of a Covid-19 vaccine. And indeed, that angle is worth discussing.
On the other hand, you might be surprised to discover that there’s more to Inovio than the vaccine horse race. With potentially lifesaving DNA technologies in its pipeline, Inovio defies labels and offers an array of potential medical solutions.
INO Stock at a Glance
Prior to the onset of the coronavirus, INO stock drifted along as a little-known penny stock. It didn’t literally trade for a penny, but the share price stayed below $5 and wasn’t on most investors’ radars.
That changed drastically as the INO stock price commenced a ramp-up starting in early March. Precipitated by the spread of Covid-19, INO marched upwards from less than $5 in March to more than $14 in mid-June.
The next phase was euphoria, when INO stock shot up to $31 and change in late June. However, that turned out to be too far, too fast. It’s perfectly understandable that a retracement followed after the steep melt-up.
By early September, the INO share price was trading below the key $10 level. In effect, prospective investors have a second chance to take a position in a leading DNA-medicine biotech firm.
A Pressing Need
As of mid-August, the United States had reported 5 million Covid-19 cases. Tragically, 169,000 Covid-19-related deaths were reported in the U.S. And worldwide, the number of coronavirus cases had exceeded 20 million while 749,000 deaths related to Covid-19 had been counted.
In this time of dire need, the scientific community must use all of its available technologies to combat the spread of this pandemic. Inovio is doing its part by leveraging the immense power of DNA technology.
The company’s Covid-19 vaccine candidate is known as INO-4800. As part of the U.S. government’s Operation Warp Speed, INO-4800 was “selected to participate in a non-human primate (NHP) challenge study.”
This nod from the government highlights Inovio as a serious competitor amid a field populated with more famous biotech names. Moreover, many of the well-known coronavirus stocks are pricey at this stage of the game, while INO stock has drifted down to a price point that’s more affordable.
Coronavirus Vaccine and More
INO-4800 deserves to be recognized as a serious Covid-19 vaccine candidate. As reported by Inovio, INO-4800 is the first and only proposed Covid-19 vaccine “to Show Long-Term Protection Against Live Virus in NHPs [non-human primates] 13-Weeks Post-Vaccination” as well as the first one “to Generate Immune Response Against COVID-19 Variant D614G.”
That’s promising, but there’s more to the Inovio story than INO-4800. Prospective investors should look deeper into the pipeline to discover what else is in progress:
- INO-5151, in Phase 2 clinical trials, targeting prostate cancer
- PENNVAX-GP, Phase 2, targeting HIV
- INO-3017, Phase 2, targeting recurrent respiratory papillomatosis
- MEDI0457, Phase 2, targeting head, neck and other cancers
That’s only a partial list as Inovio continues to discover new potential applications for its innovative DNA-based medicine candidates. So far, Inovio has reported a “Favorable safety profile tested” with more than 7,000 administrations and over 2,000 patients.
The Takeaway
For the foreseeable future, Inovio will probably continue to be pigeonholed as a contender in the coronavirus vaccine race. That’s fine because INO stock holders can still appreciate the versatility of this company and its DNA-centered approach to medical treatments.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
