Shares of Inovio Pharmaceuticals (NASDAQ: INO) were sinking 6.6% as of 3:47 p.m. EST on Monday. The decline came after analysts gave mixed reviews to the biotech’s phase 1 data from COVID-19 vaccine candidate INO-4800. These early-stage results were published in The Lancet‘s online clinical journal EClinicalMedicine on Dec. 24.
Piper Sandler analyst Christopher Raymond views INO-4800 as an “also-ran” compared to leaders in the coronavirus vaccine race. He remains highly skeptical of Inovio’s prospects with its COVID-19 vaccine candidate.