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Inovio Pharmaceuticals, Inc.

Company NameInovio Pharmaceuticals, Inc.
Stock SymbolINO
Class PeriodFebruary 14, 2020 to March 09, 2020
Lead Plaintiff Motion DeadlineMay 12, 2020

On March 3, 2020, Inovio publicized "an accelerated timeline for developing its DNA vaccine INO-4800." The Company’s CEO said that, "[u]sing our modern DNA medicines platform, we designed our DNA vaccine INO-4800 in three hours after the publication of the genetic sequence of the novel coronavirus that causes COVID-19."

Then, on March 9, 2020, Citron Research stated: "SEC should immediately HALT this stock [i.e., Inovio] and investigate the ludicrous and dangerous claim that they designed a vaccine in 3 hours."

On this news, the Company’s share price fell $4.26, or over 30%, to close at $9.83 per share on March 9, 2020, thereby injuring investors.

 

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