Inovio’s stock plunged as COVID vaccine trial is put on hold

Inovio Pharmaceuticals (INO.US) stock tumbled 32% after the company announced that the Phase 2/3 clinical trial for its coronavirus vaccine candidate had been halted while it answered additional questions from the Food and Drug Administration. Company is planning to respond to the FDA in October, and then the agency has 30 days to issue its decision about whether the trial can move forward.

Inovio Pharmaceuticals (INO.US) stock launched today’s session with a bearish price gap and is currently testing major resistance at $11.00 per share which is additionally strengthened by 200 MA (red line). If sellers manage to break below it, a downward impulse towards $6.03 per could be launched. On the other hand, once buyers regain control, the resistance at $16.53 per share may be at risk. Source: xStation5

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