Inovio Pharmaceuticals (NASDAQ: INO) was once one of the biggest coronavirus-vaccine hopefuls. The company was among the first to launch clinical trials of a vaccine candidate -- and saw its shares soar more than 700% in the first half of 2020. But when the program fell behind, investors lost faith. The stock has dropped 92% since its 2020 high.
Now, Inovio may be heading for a turnaround. It appointed a new CEO in May. And this week, Inovio announced a major cost-cutting effort that will give it the cash it needs to operate through the third quarter of 2024.
Could now be a time to get in on this potential recovery story? Let's take a closer look.
For further details see:
After Slashing Costs, Is Inovio a Buy?