6/3, 7:30 PM (Source: TeleTrader)
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Novavax, Inovio sink after vaccine progress report

Shares of vaccine development companies Inovio Pharmaceuticals Inc. and Novavax Inc. tumbled on Wednesday shortly after a report they haven't been chosen among the top firms most likely to create a coronavirus vaccine.

Earlier in the day, the report suggested Trump's administration has identified Moderna, the collaboration of Oxford University and AstraZeneca, Johnson & Johnson, Merck and Pfizer, as companies that have the highest chance to create a vaccine for the novel coronavirus.

Inovio Pharmaceuticals shares tumbled 11.65% to sell for $12.62 per share at 1:27 pm ET, while Novavax stocks concurrently plunged 14.63% to go for $42.31 a share.

Breaking the News / ND