Maxim analyst Jason McCarthy weighed in today with a few insights on Inovio Pharmaceuticals Inc (NASDAQ:INO), following the news that the company’s Zika vaccine candidate, GLS-5700, has been cleared to initiate a study in humans by the FDA. Inovio’s shares are currently up nearly 4% to $10.86.
McCarthy noted, “The phase I open-label, dose-ranging study will evaluate the safety, tolerability and immunogenicity of GLS-5700 in 40 healthy subjects. The vaccine will be administered intradermally using the CELLECTRA electroporation system.”
“Inovio continues to demonstrate that its DNA-based vaccination platform can transition from pre-clinical to clinical in a relatively short period of time. The ability to respond quickly to a rapidly emerging public health threat like Zika virus (Zika is now present in 58 countries) with a DNA-based vaccine candidate could be an ideal approach for controlling disease spread, in our view,” the analyst continued.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason McCarthy has a yearly average return of 2.3% and a 46.5% success rate. McCarthy has a 53% average return when recommending INO, and is ranked #1122 out of 3974 analysts.