With the DNA technology Inovio is basing its COVID-19 vaccine on still experimental after nearly four decades of research and development, J. Joseph Kim, the Plymouth Meeting-based company’s CEO, believes that the eagerly awaited breakthrough is finally within reach, writes Marie McCullough for The Philadelphia Inquirer.
The results from an initial and limited study in humans are currently under review as the company prepares to begin larger human trials next month.
As a result of its vaccine efforts, the company saw its market capitalization skyrocket to 371 million on June 30, from $89.5 million at the end of last year.
Inovio’s stock has also risen more than 500 percent this year, to around $20 a share.
“We are very proud of our response to this evolving pandemic,” Kim said.
However, the company still faces several hurdles. Despite receiving millions of dollars from several philanthropies, including the Gates Foundation, Inovio has been snubbed by the federal Operation Warp Speed, designed to speed up development, manufacturing, and distribution of a COVID-19 vaccine and diagnostics.
The company is also in an ongoing legal fight with its manufacturer, VGX, over refusing to share its proprietary technology with other suppliers.
Read more about Inovio at The Philadelphia Inquirer by clicking here.
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