INOVIO: DoD JPEO-CBRND To Discontinue Funding For Phase 3 INO-4800 Trial

(RTTNews) - INOVIO (INO) said the Department of Defense Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense has notified the company that it will discontinue funding for the phase 3 trial for COVID-19 vaccine candidate, INO-4800. JPEO informed INOVIO that the decision results from the changing environment of COVID-19 with the rapid deployment of vaccines.

JPEO stated: "This decision is not a reflection of the awardee or product, rather a fast-moving environment associated with the former Operation Warp Speed on decisions related to future products."

INOVIO is planning for a predominantly ex-U.S. phase 3 trial for INO-4800.

Shares of INOVIO were down 30% in pre-market trade on Friday.