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Inovio Pharmaceuticals, Inc.

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Inovio’s shares gained after the company announced the initiation of the second study on its preventive Zika vaccine, GLS-5700, in Puerto Rico. The first study on the Zika vaccine is already underway in the U.S. and Canada. Meanwhile, we are positive on the company’s progress with its lead cancer candidate, VGX-3100, which is expected to move into a late-stage study later this year. Further, we are pleased with the company’s collaborations with other companies and institutes for the development of its pipeline candidates. However, Inovio depends largely on government grants and contracts for the development of its pipeline candidates. Inability to secure sufficient funding could hinder its pipeline progress. Termination of the agreement with Roche for INO-1800 is also concerning. Moreover, most of Inovio’s pipeline candidates are in early stages of development and thus, quite a few years away from entering the market, if at all.

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