Inovio to discontinue COVID vaccine trial, appoints Jacqueline Shea as CEO

Inovio Pharmaceuticals Inc will discontinue a late-stage study of its COVID-19 vaccine, the company said on Tuesday, and appointed its operating chief as the new chief executive, sending the company's shares down nearly 20% after the bell. The decision on the trial comes after emerging global data showed a lower incidence of severe COVID cases, which would lead to an increase in trial size and costs, the company said.