Inovio Shares Down After Co. Says AstraZeneca Will Discontinue Some Collaboration Deal Activities
May 28 2019 - 6:37PM
Dow Jones News
By Stephen Nakrosis
Shares of Inovio Pharmaceuticals Inc. (INO) are falling in
Tuesday's after-hours action, following an announcement by the
company that it was informed AstraZeneca plans to discontinue
activities on research collaboration programs from an August 7,
2015, agreement, with the exception of MEDI0457.
At 5:49 p.m. ET, Inovio shares had lost 6.69% to trade at $2.92.
Inovio's shares lost ground in the day's regular trading session as
well, finishing 3.68% lower to close at $3.14 per share.
Inovio said it received notification from MedImmune Limited
about the decision. The company also said AstraZeneca will continue
to "evaluate MEDI0457, in combination with its PD-L1 checkpoint
inhibitor, durvalumab, in multiple Phase 2 clinical trials in
patients with cancers associated with human papillomavirus, or
HPV."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 28, 2019 18:22 ET (22:22 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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