By Sam Boughedda
Investing.com — Inovio Pharmaceuticals Inc (NASDAQ:INO) said on Tuesday that the U.S. Food and Drug Administration has authorized it to proceed with the phase 3 trial for its Covid-19 vaccine candidate.
The FDA put the trial of INO-4800 in the U.S. on a partial clinical hold in September last year after it required additional information. It resulted in the government pulling its funding for the study.
Soon after, the company said it would look outside the country to conduct the trial and partnered with Advaccine Biopharmaceuticals Suzhou to conduct the phase 3 segment in multiple countries.
Inovio is currently conducting the global Phase 3 segment in the Americas, Asia, and Africa.
President and CEO of Inovio, Dr. J. Joseph Kim, said: "We are pleased to have the opportunity for U.S. clinical trial participants to potentially contribute to the enrollment in our INNOVATE Phase 3 segment. Today's U.S. announcement builds on our intensive global efforts in India, Brazil, Philippines, Mexico, Colombia, and Thailand where we have received authorizations to date."
Inovio's shares rose 5% on Tuesday.