Brean Lifts PT on Inovio Pharma (INO) to $5; Expects Strong Data from VGX-3100 Phase 2
Brean Capital maintains its Buy rating on Inovio Pharmaceuticals Inc. (AMEX: INO) and raises its price target from $4 up to $5.
Analyst Jonathan Aschoff commented,
Aschoff sees Inovio's $100-million-plus cash pile supporting operations through the end of 2017, which doesn't include VGX-3100 Phase 3 costs,
For an analyst ratings summary and ratings history on Inovio Pharmaceuticals click here. For more ratings news on Inovio Pharmaceuticals click here.
Inovio Pharmaceuticals closed at $3.42 yesterday.
Analyst Jonathan Aschoff commented,
The double-blinded, placebo-controlled, randomized Phase 2 trial (HPV-003) of VGX-3100 for cervical dysplasia has been fully enrolled for long enough to generate efficacy results in mid-2014. We highly anticipate these results, as it will be the first controlled dataset from Inovio involving hard clinical endpoints, and thus we believe that it will be a key value creation event. In the meantime, Inovio already initiated preparatory activities for a potential 2014 start for a Phase 3 trial of VGX-3100, either with or without a partner.
Aschoff sees Inovio's $100-million-plus cash pile supporting operations through the end of 2017, which doesn't include VGX-3100 Phase 3 costs,
but Phase 2 success should allow a raise of sufficient capital for the $100 million trial cost.
For an analyst ratings summary and ratings history on Inovio Pharmaceuticals click here. For more ratings news on Inovio Pharmaceuticals click here.
Inovio Pharmaceuticals closed at $3.42 yesterday.