Inovio Pharmaceuticals Inc (Nasdaq:INO) announced that it was recognized with a prestigious industry award at the World Vaccine Congress being held this week in Washington, D.C. The Vaccine Industry Excellence (ViE) Awards honor outstanding vaccine advancements and achievements of therapeutic and preventive vaccine developers across the worldwide industry as judged by a panel of global biotech industry stakeholders.
Inovio was given accolades by its industry peers for “Best Therapeutic Vaccine” for its DNA-based immunotherapy, VGX-3100, which was designed to treat HPV-associated precancers and cancers. In a large, controlled phase II efficacy trial Inovio reported top line data demonstrating regression of disease and clearance of the underlying cause of the condition – the HPV virus. Inovio expects to publish the complete data set in a peer-reviewed journal this year, is advancing this product into a phase III trial early next year, and has expanded studies of this immunotherapy to include cervical and head and neck cancer.
Each year, the award recognizes the therapeutic vaccine that addresses an unmet medical need and holds significant potential for vast geographical and market reach. This is the third consecutive year that Inovio’s lead product has won this designation.
Also selected for recognition by the World Vaccine Congress as the “Best Academic Research Team” was the lab headed by Dr. David B. Weiner, Chair of Inovio’s Scientific Advisory Board and Professor of Pathology and Laboratory Medicine at The Perelman School of Medicine at the University of Pennsylvania. This award, given annually to the research group that has produced products with a novel mode of action, seen them progress into human trials, and can demonstrate significant supportive research grants, was given to Dr. Weiner and his lab for making significant contributions to the field of DNA vaccines.
Dr. J. Joseph Kim, President and CEO, said, “There is a clear unmet need for a non-surgical option for women with cervical precancers around the world. We greatly appreciate the World Vaccine Congress’ recognition of Inovio’s VGX-3100 potential to address this opportunity.
“I’m also pleased to see my mentor and collaborator, Dave Weiner, recognized for his body of work out of which the field of DNA vaccines emerged. His lab continues to introduce not only an array of new products but is also advancing important new technology innovations.
“These two awards highlight the focused research and clinical development that are the foundation of Inovio’s intellectual property and commercial goals. With a core technology consisting of proprietary DNA-based plasmids and electroporation delivery, we now have multiple approaches to optimize the immune system’s inherent capabilities to fight cancers and infectious diseases.” (Original Source)
Shares of Inovio opened today at $10.31 and are currently trading up at $10.447. INO has a 1-year high of $13.04 and a 1-year low of $6.33. The stock’s 50-day moving average is $7.85 and it’s 200-day moving average is $9.19.
On the ratings front, Inovio has been the subject of a number of recent research reports. In a report issued on March 16, Brean Murray Carret analyst Jonathan Aschoff reiterated a Buy rating on INO, with a price target of $20, which implies an upside of 94.0% from current levels. Separately, on March 12, H.C. Wainwright’s Yi Chen initiated coverage with a Buy rating on the stock and has a price target of $17.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jonathan Aschoff and Yi Chen have a total average return of 10.1% and 9.6% respectively. Aschoff has a success rate of 54.1% and is ranked #331 out of 3571 analysts, while Chen has a success rate of 80.0% and is ranked #1488.
Inovio Pharmaceuticals Inc is a clinical stage biopharmaceutical company. The Company develops active DNA immunotherapies and vaccines in combination with proprietary electroporation delivery devices to prevent and treat cancers and infectious diseases.