RTTNews | Apr 23, 2021 08:32AM EDT

08:31 Friday, April 23, 2021 (RTTNews.com) - INOVIO (INO) said the Department of Defense Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense has notified the company that it will discontinue funding for the phase 3 trial for COVID-19 vaccine candidate, INO-4800. JPEO informed INOVIO that the decision results from the changing environment of COVID-19 with the rapid deployment of vaccines.

JPEO stated: "This decision is not a reflection of the awardee or product, rather a fast-moving environment associated with the former Operation Warp Speed on decisions related to future products."

INOVIO is planning for a predominantly ex-U.S. phase 3 trial for INO-4800.

Shares of INOVIO were down 30% in pre-market trade on Friday.

Read the original article on RTTNews ( https://www.rttnews.com/3187698/inovio-dod-jpeo-cbrnd-to-discontinue-funding-for-phase-3-ino-4800-trial.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved