Inovio (NASDAQ:INO) shares jump with experimental cancer drug deal

August 10, 2015 11:59 PM

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According to a report from CNN Money, Inovio Pharmaceuticals, Inc. (NASDAQ:INO) leapt 25.12 percent to $8.12 after the company announced a $700 million deal with MedImmune, AstraZeneca’s R&D arm. MedImmune will gain the exclusive rights to INO-3312 and INO-3113, two pipeline therapies that aim to treat specific strains of HPV.

MedImmune will pay Inovio $27.5 million up front for the rights, but will pay a total of $700 million over future milestone payments. Analysts all agree that now is a good time to pick up shares of Inovio, Inc.

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