Shares of Inovio Pharmaceuticals Inc. INO,
were suspended and then fell 33.6% when they resumed market trading on Monday, when the company said the Phase 2/3 clinical trial for its COVID-19 applicant was in “partial clinical detention” while answering additional questions. from Food and Drug Administration. The detention was not due to an adverse event that paused the Phase 3 study for AstraZeneca AZN,
and the experimental coronavirus vaccine at Oxford University. Inovio said in a news release that it is working on answers to the regulator’s questions, plans to respond to the FDA in October, and then the agency has 30 days to issue a decision on whether the process can move forward. The Phase 1 process is still ongoing. Inovio shares have risen 413.3% so far this year, while the S&P 500 SPX,
is 21% more.