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Fly News Breaks for November 5, 2019
INO
Nov 5, 2019 | 14:04 EDT
Stifel analyst Stephen Willey said the early data from Inovio's single-arm Phase 2 trial evaluating the combination of INO-5401/INO-9012 and cemiplimab in newly-diagnosed glioblastoma multiforme patients is "directionally interesting" and "should appropriately increase investor anticipation around next year's disclosure of updated landmark" overall survival data, but he also says history would suggest that a "cautious interpretation is most appropriate." His enthusiasm is tempered by "a long list of universal failures associated with various immunotherapeutic approaches in this disease setting" as well as past instances when early progression free survival improvements in newly-diagnosed GBM have not translated to long-term overall survival benefits, the analyst tells investors. Willey has a Buy rating and $7 price target on Inovio Pharmaceuticals shares, which are up 15c, or 6%, to $2.53 in afternoon trading.
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