As we’ve mentioned earlier in the day, their is a bloodbath of sorts within the biotech sector this afternoon. Unfortionately for Inovio Pharmaceuticals Inc (NASDAQ:INO) shareholders, they too are included in this massive selloff. While the general market is down moderately, the biotech sector has plunged significantly today.
Shares of Inovio Pharmaceuticals Inc (NASDAQ:INO) started out in the green at the open but quickly turned negative out of the gate. Since then shares continue to follow the sector lower, hitting new 52-week lows. The stock is down appoximately 50% from its highs seen back in April of last year. It should be interesting to watch trading over the remainder of the week to see if their is any kind of bounce. The stock is down 8.85% or $0.51 today, hitting $5.25 per share. Approximately 1.01 million shares traded hands. INO shares have declined 33.79% since June 5, 2015 and are currently downtrending. It has underperformed the S&P500 by 29.10%.
Inovio Pharmaceuticals, Inc. is involved in developing deoxyribonucleic acid (DNA) immunotherapies and vaccines focused on treating and preventing cancers and infectious diseases. The company has a market cap of $416.19 million. As of December 31, 2014, Inovio had completed clinical programs of its SynCon immunotherapies for human papillomavirus (HPV)-caused pre-cancers and cancers, prostate cancer, breast/lung/pancreatic cancer, hepatitis C virus (HCV), hepatitis B virus (HBV), HIV, influenza and Ebola. It currently has negative earnings. With its immunotherapy platform consisting of SynCon products, as well as its CELLECTRA electroporation delivery technology, Inovio has developed a pipeline of pre-clinical and clinical stage products that have generated in vivo (in the body) immune responses.