Biotechnology company Inovio Pharmaceuticals Inc. Stock Crashes

Inovio Pharmaceuticals Inc. shares advanced 3.82% to $6.80 Monday. This proved to be an all-around dismal trading session for the stock market, with the NASDAQ Composite Index COMP falling 0.38% to 13,379.05 and Dow Jones Industrial Average DJIA falling 0.16% to 34,327.79. This was the stock’s second consecutive day of gains.

Inovio Pharmaceuticals Inc. closed $26.99 below its 52-week high ($33.79), which the company reached on June 26th. The stock outperformed some of its competitors Monday, as AbbVie Inc. ABBV rose 0.40% to $116.89, Amgen Inc. AMGN rose 0.40% to $252.38, and AstraZeneca PLC ADR AZN rose 1.21% to $55.88. Trading volume (5.0 M) remained 4.5 million below its 50-day average volume of 9.4 M.

Inovio Pharmaceuticals Inc a biotechnology company focused on bringing to market precisely designed DNA medicines to treat and protect people from infectious diseases, cancer, and HPV-associated diseases, today announced the appointment of Roger D. Dansey, M.D. to its Board of Directors. The appointment adds extensive expertise in drug development to the INOVIO Board as the company strengthens its focus on its late-stage product development programs. Currently the Chief Medical Officer at Seagen, Dr Dansey has played a central role in Seagen’s efforts to become a globally recognized, multi-product oncology company.

Dr Dansey previously served as the Therapeutic Area Head for Late-Stage Oncology at Merck & Co., Inc., he oversaw registration efforts for Keytruda® across multiple tumor types. He was the Vice President of Oncology Clinical Research at Gilead Sciences and the Global Development Lead for Xgeva® at Amgen, where he held multiple roles in both oncology and haematology. Dr Dansey holds an M.D. from the University of Witwatersrand in Johannesburg, South Africa.