$INO It is quite possible that the early CEPI and DoD funding of INO was a hedge based on previous results of 4701 and the unknown of the virus at the time. With positive results from Pfizer, Moderna, JnJ, Astrazeneca, and NVAX etc to date, CEPI and DoD no longer have a need for INO and its device...which does complicate logistics. The safety profile of these, while not better than INO, is good enough. Looking back at the past year, it was pretty naive to think INO could play the game at the scale of BP and at that speed. The Cellectra 2000 was never meant to go commercial, it was a prototype/proof of concept device and that is ultimately would led to the P2/P3 delay. Their only hope for covid-19 was for others to fail. It will be interesting to see the full P1 and P2 results though. I'm not 100% confident we will see a P3 anywhere though.