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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