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Things can change quickly in the stock market, especially in the volatile biotech industry. In early 2020, Inovio Pharmaceuticals (NASDAQ: INO) was considered a leader in the hunt for a coronavirus vaccine. Had things gone according to plan, the stock could have ended up much like Moderna, a company that had no products on the market but whose COVID-19 vaccine became highly successful.
Alas, Inovio was not so fortunate and although the biotech hasn’t given up on its coronavirus project, things don’t look too promising. Is there any hope left for investors?
Inovio Pharmaceuticals encountered regulatory headwinds that substantially delayed its efforts to develop an effective coronavirus vaccine. Now, the biotech has refocused its strategy on the heterologous booster market. This plan makes sense. Although vaccination rates vary across countries, a substantial percentage of the world’s population has already received at least one dose of a vaccine.