Steep falls in stock prices can often be an opportunity for investors as well and hence, the Inovio Pharmaceuticals (NASDAQ: INO) stock could be an intriguing opportunity for investors.
The stock has performed poorly over the course of the past two months and declined by as much as 50% during that period. However, it might be important for investors to look a bit deeper into the company. Recently the company announced that it had completed the enrolment for the Phase 2 clinical trial of its COVID 19 vaccine.
It is a significant development for the company. However, that is not all. As is now well known, new variants of the COVID 19 virus have emerged in recent months and with that in mind, Inovio is also working on the development of different vaccines for different variants. The fact that the United States Food and Drug Administration placed a hold on the company’s Phase 2/3 trial has proven to be overhand on the Inovio stock. Investors could consider keeping the stock in their watch lists at this point.