Why this Inovio analyst is downgrading estimates for the coronavirus vaccine developer

Cantor is taking a conservative stance and reducing its estimate for the number of doses sold in 2022-2026 by Inovio, the analyst said.

Given Inovio’s quarter-end cash position of $ 372 million, that will probably be enough in 2023, with a very potential milestone from the pipeline, he said.

The 94% response rate for the INO-4800 vaccine in the Phase 1 study and qualitative characterization of the composition of immune responses guarantee movement of the research vaccine in a Phase 2/3 efficacy study, Duncan said.

The analyst said he expects enrollment of patients in the study in the summer or early fall.

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The proposed Phase 2/3 study is likely to enroll health care workers, first responders and individuals in other occupations that put them at a higher risk of COVID-19 infection, he said.

The size and speed of the study will depend on several factors, including the viral attack rate, Duncan said.

The company is also expected to release 18-month overall survival data from INO-5401 / INO-9012 / checkpoint inhibitor in glioblastoma multiforme and data from Phase 2 study of MEDI-0457 in combination with durvalumab for metastatic HPV-related squamous cell carcinoma of the head and neck, according to Office Fitzgerald.