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Fly News Breaks for January 2, 2020
INO
Jan 2, 2020 | 19:22 EDT
Piper Jaffray analyst Christopher Raymond lowered his price target on Inovio to $8 after the company announced a delay of up to 18 months in its target for a BLA filing for its lead program VGX-3100. The analyst says he now anticipates a filing in early 2023 and a launch later that year, pushing out his modeled revenue for the program by one year. Despite the "disappointing delays", Raymond contends that Inovio has become a "show-me" story, even though he maintains his Overweight rating on the stock.
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