Stock Alert: Inovio Pharma Plummets 30% As FDA Puts On Hold Its Coronavirus Vaccine

(RTTNews) - Shares of Inovio Pharmaceuticals, Inc. (INO) tanked 30% on Monday morning after the biotechnology company announced that phase 2/3 trial of its COVID-19 vaccine candidate will be delayed after the U.S. FDA put it on hold.

INO is currently trading at $11.75, down $5.19 or 30.64%, on the Nasdaq.

INOVIO said FDA notified the company it has additional questions about the company's planned Phase 2/3 trial of its COVID-19 vaccine candidate INO-4800. Until the FDA's questions have been satisfactorily addressed, INOVIO's IND for the Phase 2/3 trial is on partial clinical hold.

The company said the partial clinical hold is not due to the any adverse events related to its ongoing expanded Phase 1 study of INO-4800.