Biotech Coronavirus

Biotech ETFs Rally After Inovio Locks in DOD Coronavirus Deal

Biotechnology sector-related exchange traded funds were among the leaders on Tuesday after the Department of Defense provided funding to Inovio Pharmaceuticals (NasdaqGS: INO) to scale up manufacturing of a DNA vaccine for the novel coronavirus.

Among the best performing non-leveraged ETFs of Tuesday, ARK Genomic Revolution Multi-Sector Fund (CBOE: ARKG) advanced 4.3% and SPDR S&P Biotech ETF (XBI) increased 2.3%.

Read more…