MONTGOMERY COUNTY, Pa. (CBS) — On Tuesday, Plymouth Meeting-based company Inovio Pharmaceuticals announced positive results from early-stage testing of its COVID-19 vaccine. But officials with the biotechnology company did not disclose complete data.
This sent shares of the company’s stock tumbling on Wall Street.
Inovio’s CEO explains the vaccine testing results.
Six weeks ago, 36 people received two injections of the COVID-19 vaccine.
“Early phase 1 clinical trials on the COVID-19 vaccine that Inovio is developing demonstrated a very strong safety and very early but very promising immune responses from the trial,” Dr. J. Joseph Kim said.
Inovio says 94% of the trial participants demonstrated overall immune responses.
The company says it hopes to get data supporting the effectiveness of its COVID-19 vaccine early next year.