The shares of Inovio Pharmaceuticals Inc. rose 6.14% to $9.16 Wednesday, on what proved to be an all-around positive trading session for the stock market, with the NASDAQ Composite Index COMP rising 1.19% to 13,950.22 and the Dow Jones Industrial Average DJIA rising 0.93% to 34,137.31.
Inovio Pharmaceuticals Inc. closed $24.63 below its 52-week high ($33.79), which the company achieved on June 26th. The stock outperformed some of its competitors Wednesday, as AbbVie Inc. ABBV rose 1.62% to $110.80, Amgen Inc. AMGN fell 0.14% to $258.78, and AstraZeneca PLC ADR AZN rose 1.61% to $53.11. Trading volume remained 4.8 million below its 50-day average volume of 11.0 M.
The results showed that INO-4800 induced a robust T cell response against all spike protein variants tested, which the company believes will be key in protecting SARS-CoV-2 variants, in addition to providing similar levels of neutralizing activity against both the UK and Brazilian variants as those against the original strain. Dr J. Joseph Kim, INOVIO’s President & CEO, said that these results are consistent with our expectation that INO-4800, which was found to be well-tolerated and able to produce a balanced immune response in our Phase 1 trial, can generate both neutralizing antibodies and robust T cell responses both of which will be important to preserve against the emerging variants of concern.