Inovio shares crash after FDA places partial hold on Covid-19 trial

(Sharecast News) - Inovio's phase 2/3 trial of its Covid-19 vaccine candidate was put on partial hold by the US Food and Drug Administration, sending the shares crashing.
The US biotechnology outfit said the partial hold was not due to any so-called "adverse event" during the trial.

Instead, the FDA had notified management that it had additional questions about the planned trial of INO-4800, including around the electroporation delivery technology with which it would be delivered, known as Cellectra 2000.

The biotech outfit said that it would respond to the regulator in October, after which the FDA would have 30 days to decide whether or not to allow the trial to proceed.

As of 1348 BST, shares of Inovio were falling 33.41% to $11.30.