INOVIO: DoD JPEO-CBRND To Discontinue Funding For Phase 3 INO-4800 Trial

INOVIO (INO) said the Department of Defense Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense has notified the company that it will discontinue funding for the phase 3 trial for COVID-19 vaccine candidate, INO-4800. JPEO informed INOVIO that the decision results from the changing environment of COVID-19 with the rapid deployment of vaccines.

JPEO stated: "This decision is not a reflection of the awardee or product, rather a fast-moving environment associated with the former Operation Warp Speed on decisions related to future products."

INOVIO is planning for a predominantly ex-U.S. phase 3 trial for INO-4800.

Shares of INOVIO were down 30% in pre-market trade on Friday.

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