Inovio Pharmaceuticals Inc. INO, +8.48% said Thursday it has received a $5 million grant from the Bill and Melinda Gates Foundation to accelerate the testing of a proprietary smart device for intradermal delivery of a vaccine to treat the coronavirus that causes COVID-19. The vaccine, INO-4800, is in preclinical studies and the company is aiming to advance to human clinical trials in April. Inovio already has up to $9 million in funding from Coalition for Epidemic Preparedness Innovations, or CEPI, a global organization based in Oslo. Inovio shares surged 22% premarket. The stock has been on a tear each time it posts a press release about its planned vaccine. The company has 15 DNA medicine clinical pograms in development but has no approved products.