Short-Seller Citron Research Slams Inovio Pharma, Saying Stock Should be Halted; Stock Slides Near 20% - (Fidelity via NewsPoints Desk)

  • Shares in Inovio Pharmaceuticals declined nearly 21% on Monday after Citron Research said the US Securities and Exchange Commission should halt the company's stock and probe its "ludicrous and dangerous" claim of designing a vaccine in three hours, as reported in Fidelity.

  • Last week, Inovio said its scientists learned about the novel coronavirus on December 31 and that Chinese researchers shared the genetic sequence of the virus on January 10.

  • "Inovio designs DNA vaccine INO-4800 in three hours after receiving the genetic sequence using its proprietary DNA medicines platform technology," the biotechnology firm stated on March 3.

  • It added that "INO-4800 was designed to precisely match the DNA sequence of the virus."

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