$INO Court denying Inovio injunctive relief 'a major setback,' says Piper Sandler Piper Sandler analyst Christopher Raymond reiterated a Neutral rating on Inovio Pharmaceuticals, saying he would be particularly cautious after the court decision denying the company's request for emergency injunction against supply partner VGXI. While he acknowledges significant funding from the Pentagon is "nothing to sneeze at," Raymond said the decision denying Inovio's request for injunctive relief is a "major setback" to the scale-up required for the COVID-19 vaccine development program. The analyst added that, along with CEPI's recent commentary regarding a current lack of DNA vaccine manufacturing capacity, he worries that investors hoping for a viable, scaled vaccine option from Inovio in the near-term will be "disappointed." Maybe some short term caution for tomorrow. Above was released after the close today but during the AH rally.