Inovio initiated with an Outperform at JMP Securities

JMP Securities analyst Roy Buchanan initiated coverage of Inovio Pharmaceuticals with an Outperform rating and $1 price target. The firm says the FDA’s agreement that existing data may support an approval in a serious indication is a key win for Inovio. The company has been reducing its cash burn and approval for recurrent respiratory papillomatosis can put Inovio on a positive trajectory, the analyst tells investors in a research note.