Earnings and brief annual shareholder call this past week was upbeat and confident on all fronts including INO-4800 for covid 19 and INO-5401 for GBM (brain cancer). $270 million in cash on hand with an $85 million annual burn rate. CEO commented that costs to develop and manufacture INO-4800 would not fall on company but come from outside sources. Lots of money out there whether from US govt (BARDA, NIH or Operation Warp Speed), CEPI OR GAVI, or Bill and Melinda Gates Foundation. Announcement of these funds will take $INO into 20s and chart supports this as stock heads towards the top of the channel in the next two weeks.
Trade active:
Bounced off bottom of the channel again and looks poised to head up to the mid 20s. Only positive news so far and there is a webinar on monday that has all the key execs on a q&a session re DNA medicines. Reaffirming expectation of significant 50%+ move to the upside.