Inovio Pharmaceuticals Get Boost As Coronavirus Spreads Quickly
The coronavirus epidemic turned into a major crisis this past week after cases were discovered outside China, and that has also fired up stocks of certain companies that are involved in developing a vaccine for it. One such stock is Inovio Pharmaceuticals Inc (NASDAQ: INO), and experts believe that the stock could continue to attract investors this week as well.
The stock started rallying back in November when Inovio announced that it is working on a vaccine to tackle the coronavirus. That being said, it should also be noted that other companies are working on vaccines as well.
Market experts believe that the Inovio stock could prove to be a decent hedge against the continued losses in the wider market. There have been promising developments regarding the product as well. The company has been provided with a grant worth $9 million by the Coalition for Epidemic Preparedness Innovations (CEPI) for Phase 1 of the human testing.
If the product, INO 4800, does prove to be effective in the first phase, then it could prove to be a massive deal for Inovio Pharmaceuticals Inc (NASDAQ: INO). It also goes without saying that success in the testing process is expected to bring about a fresh rally in the Inovio stock as well.
While the Inovio stock could be in focus today, investors could also have a look at the CBD Unlimited Inc’s (OTCMKTS: EDXC) stock. The company has emerged as one of the more promising players in the fast-growing CBD space. At this point, the company’s products are available in more than 5600 stores across the United States.
However, CBD Unlimited Inc (OTCMKTS: EDXC) wants to raise that count to more than 20000 this year, and the company has also projected that its revenues in 2020 are going to be more than what it generated in 2019. Additionally, CBD Unlimited has also got the necessary approvals by way of which it will now be able to distribute its products in South Africa and Puerto Rico.
Source: Stock Market Press
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