ONLINE FOREX BROKER
2022-12-15 • Updated
Inovio Pharmaceuticals Inc (INO) is a biotechnology company that focuses on developing DNA immunotherapies and vaccines to treat and prevent various cancers and infectious diseases. The company develops products based on its core SynCon DNA plasmid technology and electroporation delivery technology.
When the pandemic roiled America in 2020, COVID stocks, including Inovio, gained momentum. Robinhood named Inovio as one of the top 10 most traded stocks on its platform in April 2020, putting Inovio in line with Microsoft (MSFT), Disney (DIS), and Tesla (TSLA). However, the company hasn't been successful in developing a vaccine.
Initially, Inovio announced plans to develop COVID-19 vaccines targeting the recently discovered Omicron variant, which boosted the stock. However, in March 2022, Inovio stated that it paused the development of its phase 3 INO-4800 trial.
The company announced an update of the strategy on the Q1, 2022 earnings call and its more recent CEO presentation at Jefferies 2022 Global Healthcare Conference in June 2022.
CEO Shea described the situation as follows:
"As the COVID-19 pandemic evolves towards the endemic phase, the need for booster vaccines to protect against severe illness and death represents a growing and strategic opportunity. In light of this, we now believe that Inovio can have the greatest impact and serve the most pressing public health needs by focusing on the COVID vaccine in our heterologous booster strategy".
Inovio Pharmaceuticals Inc will release the Q2 2022 financial results on August 9, after the market close (23:30 GMT+3). Following the release, INOVIO will host a live conference call to discuss the financial statement and provide a general business update.
The recent history shows the stock usually falls ahead of earnings reports on expectations of worse-than-expected results. Moreover, after the two latest reports (May 10, 2022, and March 01, 2022), the price opened lower with a gap and returned to growth the next day.
In Q2 2022, the company didn't succeed in drug development, and actual financial results will likely underperform the expectations. Therefore, FBS analysts believe the stock might plunge ahead of the report.
INO, H4 chart
Resistance: $2.27, $2.35
Support: $1.94, $1.83, $1.73
On Friday, July 29, the stock dropped out of the descending channel despite the growth of the US stock indices, highlighting its weakness ahead of the earnings report.
If the price doesn't return inside the channel on Monday, the bears will be able to bring it down to the $1.73, 61.8 Fibonacci level. Moreover, the breakout of $1.73 opens the way to $1.40.
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In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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