- Inovio Pharmaceuticals ( NASDAQ: INO ) on Thursday said it had discontinued development of its COVID-19 booster vaccine.
- Shares of the small-cap biotech fell 2.4% to $2.01 after hours.
- "The decision follows INOVIO's comprehensive review of its portfolio, market conditions, and global demand for COVID-19 vaccines," the company said in a statement .
- INO said it would reallocate its resources to other treatments in its pipeline.
- INO had been assessing its INO-4800 product candidate as a potential vaccine for COVID.
- INO-4800 will continue to be developed as a COVID booster vaccine by Inovio's ( INO ) partner in China, Advaccine.
For further details see:
Inovio Pharmaceuticals stops development of COVID-19 booster shot candidate