Piper Sandler analyst Christopher Raymond noted that the Coalition for Epidemic Preparedness Innovations is providing a $9M grant to Inovio for the development of a vaccine against coronavirus 2019-nCoV, which he said builds on the company's significant work on coronavirus vaccines given that CEPI is currently funding Inovio's work on MERS, which is another coronavirus. However, while today's news "underscores the importance of Inovio's science in the global effort to counter pandemics," Raymond noted that any approval and stockpile order is "likely years out" and he doesn't see a meaningful P&L impact in the near-term. He keeps an Overweight rating and $8 price target on Inovio shares, which are up 21c, or 6%, to $3.65 in morning trading.