Shares of Inovio Pharmaceuticals Inc (NASDAQ:INO) ended Tuesday session in red amid volatile trading. The shares closed down -0.05 points or -0.54% at $9.22 with 1.47 million shares getting traded. Post opening the session at $9.24, the shares hit an intraday low of $8.96 and an intraday high of $9.30 and the price vacillated in this range throughout the day. The company has a market cap of $737.81 million and the numbers of outstanding shares have been calculated to be 73.55 million shares.
Inovio Pharmaceuticals Inc (INO) on Sept. 12, 2016 announced that its Zika vaccine in development has been named a 2016 Technology Breakthrough by the editors of Popular Mechanics magazine, the leading technology voice in the U.S. with millions of readers.
Inovio has advanced its DNA-based Zika vaccine into two trials in the U.S., Canada and Puerto Rico. Inovio expects to have results before the end of this year for its U.S. study. In addition, the CDC estimates Zika will infect more than 25% of the Puerto Rican population by year end, providing the potential for Inovio’s Zika vaccine and this study’s placebo control design to provide exploratory signals of vaccine efficacy. The company expects to meet with regulators next year to determine the most efficient path forward to develop its Zika vaccine and help mitigate this widespread Zika outbreak that has now expanded into the continental United States.
In selecting Inovio’s Zika vaccine as a 2016 breakthrough technology the magazine cited: “Inovio Pharmaceuticals, the drug company behind what looks to become the fastest vaccine ever to come to market, may be able to halt such a (Zika) spread before it gets out of control. The company shocked the medical world in June by announcing that its Zika vaccine had already received FDA approval for human clinical trials, just nine months after the race to prevent Zika began. If all goes well, its shot will be available to the public as soon as early 2018.”
Dr. J. Joseph Kim, Inovio’s President & CEO, said, “This award recognizes the Inovio scientists and engineers who have advanced Inovio’s Zika vaccine into two human studies. Inovio was the first to manufacture a Zika vaccine, the first to begin human trials and we expect to have the first human trials data late this year.”
Shares of Palatin Technologies, Inc. (NYSEMKT:PTN) ended Tuesday session in red amid volatile trading. The shares closed down -0.007 points or -1.27% at $0.543 with 783,723.00 shares getting traded. Post opening the session at $0.56, the shares hit an intraday low of $0.52 and an intraday high of $0.58 and the price vacillated in this range throughout the day. The company has a market cap of $42.36 million and the numbers of outstanding shares have been calculated to be 80.05 million shares.
Palatin Technologies, Inc. (PTN) on Aug. 4, 2016 announced that the last patient visits in the Company’s reconnect studies, consisting of two pivotal Phase 3 clinical trials of bremelanotide for the treatment of female hypoactive sexual desire disorder (HSDD), have been completed.
“We are very excited with the completion of the last patient visits in our Phase 3 reconnect studies,” said Carl Spana, Ph.D., President and Chief Executive Officer of Palatin. “Patient enrollment and last patient out of the studies were concluded on time. We now look forward to data verification and database lock, which we anticipate occurring in late September, with topline data announced shortly thereafter.”
Each Phase 3 study is a multicenter (~80 sites), randomized, placebo controlled, parallel-group, eight month trial with an open-label extension phase. The studies are designed to evaluate the efficacy and safety of subcutaneous bremelanotide, delivered by an autoinjector pen, in premenopausal women with HSDD as an on-demand, as-needed treatment.