Stock Alert: Inovio Pharmaceuticals Climbs 11%

(RTTNews) - Shares of Inovio Pharmaceuticals Inc. (INO) are climbing more than 11 percent or $1.32 in Thursday's trading at $13.03 despite no stock-specific news. The stock has traded in a range of $1.92 to $19.36 in the past 52 weeks.

The biotechnology company is working on developing a vaccine for COVID-19.

Last week, the Coalition for Epidemic Preparedness Innovations said it has granted $6.9 million funding to Inovio to work with the International Vaccine Institute and the Korea National Institute of Health for a Phase 1/2 clinical trial of Inovio's COVID-19 vaccine candidate, INO-4800, in South Korea.

The Coalition for Epidemic Preparedness Innovations is a partnership between public, private, philanthropic, and civil society organizations, to develop vaccines. It has initiated 8 partnerships to develop vaccines against the novel coronavirus.

Headquartered in Seoul, South Korea, the International Vaccine Institute is a non-profit inter-governmental organization. IVI has 35 signatory countries.

Inovio's Phase 1 INO-4800 study is currently underway in the U.S. since April 6, 2020 with 40 healthy adults receiving the vaccine candidate and eventually expanding to older adults.