As of July 12, the number of new cases of COVID-19 in the U.S. has surpassed 60,000 for the fifth day in a row. Unfortunately, this rise cannot be attributed to increases in testing. For most of last week, nearly 1,000 Americans died each day due to COVID-19, representing a 300% increase from the death rate just a week prior.
Hence, the need for a coronavirus vaccine becomes more dire day by day. One of the front-runners of this endeavor is Inovio Pharmaceuticals (NASDAQ:INO). While it’s already returned 601% year-to-date, I think shares have the potential to rally even further due to the potential of its COVID-19 vaccine candidate.