Inovio says Covid-19 vaccine candidate safe, effective in clinical trial

Inovio Pharmaceuticals Inc said on Monday its Covid-19 vaccine candidate was safe, well-tolerated and produced immune response against the coronavirus in all tested age groups as part of a mid-stage clinical trial.

The company's shares were up 7% at $7.34 before the bell.

The trial enrolled about 400 participants aged 18 years and older at 16 US sites. The company said it has selected 2 mg dose for the phase 3 segment of the trial.

Inovio plans to file preliminary mid-stage results with the US Food and Drug Administration (FDA).

Last month, the company said the US government pulled the funding for a late-stage study testing its vaccine candidate and it would now conduct the trial largely outside the country.

In September, the FDA put the phase 3 portion of the mid-to-late stage trial on hold for more information on the device used to inject the shot.