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Jan. 4, 2021, 8:21 a.m. EST

Inovio to partner with Chinese biotech on COVID-19 vaccine candidate in Greater China

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By Jaimy Lee

Shares of Inovio Pharmaceuticals Inc. /zigman2/quotes/202993817/composite INO -6.66% were up 4.5% in premarket trading on Monday after the company announced a licensing deal with Advaccine Biopharmaceuticals Suzhou Co. Ltd. for its COVID-19 vaccine candidate. As part of the agreement, the privately held Chinese biotech gains exclusive right to develop, manufacture, and commercialize the still-investigational vaccine in China, Hong Kong, Macao, and Taiwan. Advaccine will make an upfront payment of $3 million to Inovio, with additional possible milestone payments up to $108 million. Inovio may receive royalties based on annual net sales in the region if the vaccine is authorized or approved, though the company's COVID-19 vaccine candidate has not been authorized or approved in any countries. A Phase 2 clinical trial in China is currently underway. Inovio's stock has soared 196.9% over the last year, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.84% is up 16.2%.

/zigman2/quotes/202993817/composite
US : U.S.: Nasdaq
$ 6.17
-0.44 -6.66%
Volume: 5.06M
Dec. 3, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.30 billion
Rev. per Employee
$28,287
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/zigman2/quotes/210599714/realtime
US : S&P US
4,538.43
-38.67 -0.84%
Volume: 2.71B
Dec. 3, 2021 5:35p
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