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Broker H.C. Wainwright repeats 'buy' on Inovio Pharma

Last updated: 13:24 29 Jan 2016 EST, First published: 07:24 29 Jan 2016 EST

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Along with GeneOne Life Science, the firm is co-developing its vaccine GLS-5300 with the Walter Reed Army Institute of Research (WRAIR) located in Maryland...

Broker H.C. Wainwright has repeated a 'buy' on Inovio Pharmaceuticals (NASDAQ:INO) after it yesterday kicked-off enrollment for its collaborative vaccine study for Middle East Respiratory Syndrome (MERS) and also has a Zika virus vaccine in development.

"We note that there is no vaccine or treatment against MERS," the broker said, targeting a share price of US$17 against a current price of US$5.78.

Along with GeneOne Life Science, the firm is co-developing its vaccine GLS-5300 with the Walter Reed Army Institute of Research (WRAIR) located in Maryland.

The broker notes a recent outbreak caused 186 infections and 36 fatalities in South Korea.

The DNA vaccine GLS-5300 previously induced 100% protection from a live virus challenge in a preclinical animal study, while this human trial aims to obtain safety and immunogenicity data.

"In our view, this is a capital efficient approach for Inovio to move its pipeline forward," said analyst Yi Chen.

The Zika virus has been very much in the public eye recently and the WHO (World Health Organisation) said it was calling an emergency meeting.

"Brazil, the epicenter of the Zika virus and the host of the 2016 Olympics, has reported that over 4,000 children have been born with microcephaly that could be linked to the Zika virus infection. There is no vaccine or treatment available for the Zika virus infection," noted the analyst.

Inovio's vaccine candidate is currently undergoing preclinical animal studies to evaluate its immunogenicity, said the broker.

HC Wainwright also reminded investors that Inovio’s end-of-Phase-2 meeting with the FDA is likely to occur in 1Q 2016 to discuss the design of the proposed Phase 3 trial of VGX-3100 for the treatment of cervical dysplasia. Preparations for this registration study are ongoing.

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