Inovio Analyst Says Thermo Fisher Deal 'One Solid Step' Toward COVID-19 Vaccine Commercialization

Inovio Pharmaceuticals Inc (NASDAQ: INO), which has had a legal tussle with its South Korean CDMO, announced Tuesday an agreement with Thermo Fisher Scientific Inc. (NYSE: TMO) to manufacture Inovio's DNA COVID-19 vaccine.

The Inovio Analyst: H.C. Wainwright analyst Raghuram Selvaraju reiterated a Neutral rating on Inovio. 

The Inovio Takeaways: The inclusion of Thermo Fisher in the global consortium significantly strengthens Inovio's manufacturing capacity and represents one "solid step" toward potential commercialization of INO-4800 in 2021, Selvaraju said in a Wednesday note.

Along with its existing manufacturing partners Richter-Helm Biologics and Ology Bioscience, Inovio now has the potential to manufacture 100 million doses of INO-4800 in 2021, the analyst said. 

Thermo Fisher is to provide fill and finish of INO-4800 at its commercial facilities in the U.S., he said. 

Inovio is in active discussions with additional manufacturers to join the consortium, Selvaraju said.

Inovio's INO-4800 is slated to enter a Phase 2/3 trial later this month, the analyst said.

INO Price Action: Inovio shares were trading 10.41% higher at $10.61 at last check Wednesday. 

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