INO Stock: Why Inovio Pharmaceuticals Is Rallying 15% Today

Inovio Pharmaceuticals $INO said that it had entered into a manufacturing agreement with Thermo Fisher Scientific $TMO to make the coronavirus vaccine candidate INO-4800.

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Inovio Pharmaceuticals  (INO) - Get Report said Tuesday that it had entered into a manufacturing agreement with Thermo Fisher Scientific  (TMO) - Get Report to make the coronavirus vaccine candidate INO-4800.

Inovio said Thermo Fisher will manufacture drug substance and perform fill-and-finish work for the vaccine. At peak capacity, Inovio said, Thermo Fisher projects that it could produce at least 100 million doses of INO-4800 annually.

Richter-Helm BioLogics and Ology Biosciences are part of the consortium and Inovio said it was in active discussions with additional manufacturers to join the group.

Having multiple manufacturers involved in the production of INO-4800 is intended to support timely, cost-effective and scalable production of the vaccine.

In June, Inovio said that INO-4800 was "deemed safe and well-tolerated" in all 40 of the participants in a Phase I clinical trial. The company said it submitted the full trial results for the first 40 subjects for publication in a peer-reviewed journal. 

Inovio received $71 million from the U.S. Department of Defense earlier this summer to ramp production of the companys smart device, Cellectra 3PSP, that administers INO-4800 into the skin, where the vaccine prompts the bodys immune system to respond.

Last month, Thermo Fisher exited a planned acquisition of Germany-based coronavirus testing specialist Qiagen NV  (QGEN) - Get Report after failing to convince enough investors to support its improved $13 billion approach. 

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