Inovio Pharma (INO): Cutting PT to $13 - HC Wainwright
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H.C. Wainwright analyst, Raghuram Selvaraju, reiterated his Buy rating on shares of Inovio Pharmaceuticals (NASDAQ: INO) after the company reported its 3Q16 financial results. Total revenue was $12.5M, and net loss was $20.8M during the quarter, or ($0.28) per share. Management indicated that they are still waiting for the formal letter from the FDA regarding the clinical hold on the Phase 3 pivotal study of VGX-3100 for the treatment of HPV-16/18-related highgrade cervical dysplasia, which has not been started yet.
Management expects to complete the FDA requirement regarding additional data on the shelf-life of the disposal part of the Cellectra® 5PSP delivery device in 1Q17. The Phase 3 study should then be cleared to start shortly thereafter.
The $13 price target drops from $17 but no change to the Buy rating.
Shares of Inovio Pharmaceuticals closed at $7.43 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change, Earnings
Related EntitiesEarnings, H.C. Wainwright
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