Coronavirus Penny Stocks #1: Inovio Pharmaceuticals (INO)
Inovio Pharmaceuticals (INO – Free Report) was actually one of the penny stocks to watch during the last quarter of 2019. Shares ended up jumping from 52-week lows of $1.92 to highs this week of $4.70. Inovio Pharmaceuticals focuses mainly on DNA medicines to treat/cure/protect people from certain diseases.
Aside from HPV and cancer, infectious diseases are a target of the company. The company has collaborated with the likes of ApolloBio Corporation, AstraZeneca, The Bill & Melinda Gates Foundation, GeneOne Life Science, the National Cancer Institute and many more.
Aside from just having a keyword associated with it, Inovio was selected by the Coalition for Epidemic Preparedness Innovations this week. The Coalition grated the company “up to $9 million” to develop a vaccine against the new strain of coronavirus. It will support INO’s preclinical and clinical development into Phase 1 human testing. Inovio’s INO-4800 became its new coronavirus vaccine matched to the outbreak strain.
Furthermore, Inovio and the Coalition have worked together in the past. It had awarded Inovio a grant of up to $56 million to develop vaccines against Lassa fever as well as MERS, which is another version of coronavirus.