What happened Shares of the clinical-stage biotech Inovio Pharmaceuticals (NASDAQ: INO) are up by a healthy 20.3%, on abnormally high volume, as of 10:40 a.m. EDT Tuesday. Today's double-digit rally appears to be carryover from CEO Dr. Joseph Kim's presentation yesterday at the H.C. Wainwright 22nd Annual Global Investment Conference. While Kim's presentation didn't exactly include any earth-shaking updates, he did note that a peer-reviewed paper should be forthcoming discussing the phase 1 trial results for the company's closely watched COVID-19 vaccine candidate, INO-4800. This first human trial included 40 healthy volunteers aged 18 to 50. Previously, Inovio announced that the vaccine produced either neutralizing antibodies or T-cell responses in all study participants. Image source: Getty Images. So what Inovio's shares have been under immense pressure for the past three months. In fact, the drugmaker's stock has fallen by nearly 60% relative to its 52-week high posted back in June. Investors have backed away from Inovio's stock largely because the company has fallen behind the leaders in the hotly contested race to develop a safe and effective COVID-19 vaccine. At yesterday's conference, however, Kim said that INO-4800's planned phase 2/3 trial should get clearance from the Food and Drug Administration soon. He also noted that he felt "very confident" this pivotal trial would receive external funding -- perhaps foreshadowing a large award from Operation Warp Speed in the near future. Now what Should investors buy into this latest rally? Inovio is a risky biotech stock to be sure. But there's a decent chance that the biotech could indeed land a sizable award for its COVID-19 vaccine. So, if you're the risk-tolerant type, it might be worthwhile to buy a few shares ahead of this potential catalyst. 10 stocks we like better than Inovio PharmaceuticalsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Inovio Pharmaceuticals wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 1, 2020 George Budwell has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source