Benzinga - by Vandana Singh, Benzinga Editor.
Stephens initiated coverage on INOVIO Pharmaceuticals Inc (NASDAQ:INO), noting the company’s diversified clinical pipeline of therapeutic and vaccine candidates, which the company is looking to advance eight additional clinical-stage candidates.
The analyst writes that the FDA considered lead program INO-3107 Phase 1/2 clinical trials sufficient for the Accelerated Approval Program.
If approved, INO-3107 could be the first non-surgical treatment for recurrent respiratory papillomatosis (RRP).
RRP is a rare chronic disease caused by the human papillomavirus. In RRP, wart-like tumors grow on and around vocal cords.
FDA marketing application submission for INO-3107 is on track for the second half of 2024.
The analyst initiated coverage with an Overweight rating with a price target of $20.
Stephens says INOVIO’s proprietary technology and approach involves developing and administering DNA plasmids into affected cells to restore normal functionality.
The DNA Medicines pipeline also has early clinical stage programs ongoing for head and neck squamous cell carcinoma, glioblastoma, and as an Ebola vaccine booster.
“We view the efficiencies implemented by the leadership team will translate over to more “high-percentage shots-on-goal” to de-risk the platform technology,” Stephens writes.
The analyst also writes, “New leadership and strategic reorganizations align focus to lead programs and operational efficiencies.”
Price Action: INO shares are up 2.55% at $11.65 at last check Tuesday.
Latest Ratings for INO
| Mar 2022 | RBC Capital | Maintains | Sector Perform | |
| Jan 2022 | B of A Securities | Upgrades | Underperform | Neutral |
| Nov 2021 | RBC Capital | Maintains | Sector Perform |
View the Latest Analyst Ratings
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