Inovio Pharma rises on EU's 'orphan tag' for respiratory disease therapy

Inovio Pharmaceuticals

23/05/2023 23:33

** Shares of drug developer Inovio Pharmaceuticals Inc
 INO.O  rise ~10% to 72 cents after the bell   
    ** Co says the European Commission has granted "orphan drug"
status to its experimental therapy to treat a rare respiratory
disease called recurrent respiratory papillomatosis (RRP)  
    ** RRP is characterized by the development of small,
wart-like growths, or papillomas, in the respiratory tract 
    ** The therapy, INO-3107, is being developed to activate
body's immune cells against the disease causing virus, Human
Papillomavirus -INO  
    ** Benefits of the orphan drug tag include potential for up
to 10-year EU market exclusivity upon regulatory approval of the
therapy
    ** Up to last close, stock down ~58% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))