RTTNews | Nov 16, 2020 10:08AM EST

10:07 Monday, November 16, 2020 (RTTNews.com) - Shares of Inovio Pharmaceuticals, Inc. (INO) are climbing more than 4% Monday morning after the company said it has received clearance from the FDA to start Phase 2/3 study of its Covid-19 vaccine candidate, INO-4800.

In September, the FDA had sought for additional information about the phase 2/3 study and has been put on hold.

The phase 2/3 study dubbed INNOVATE, will be funded by the U.S. Department of Defense, the company said.

INO is currently trading at $11.69. It has traded in the range of $2.20- $33.79 in the past 52 weeks.

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