iBio Takes Another Big Step in the Fight Against COVID-19
iBio has announced that it has selected a vaccine to advance for the prevention of infection by the coronavirus that causes COVID-19.
iBio Inc. (NYSE: IBIO) has announced that it has selected a vaccine to advance for the prevention of infection by SARS-CoV-2, the coronavirus that causes COVID-19. Specifically, the firm is advancing IBIO-201, its LicKM-subunit vaccine.
Previously, the firm announced that IBIO-200 and IBIO 201, combined with select adjuvants from the Infectious Disease Research Institute (IDRI), induced anti-SARS-CoV-2 antibodies in preclinical studies.
Additional data from cell-based pseudovirus neutralization assay testing demonstrated that IBIO-201 induced the production of more anti-spike neutralizing antibodies than IBIO-200 in immunized mice.
Management noted that the near-term goal is to conduct more focused studies on each of IBIO-200 and IBIO-201, for the purpose of advancing IBIO-201 to toxicology studies ahead of planned clinical development. In the meantime, the firm intends to continue preclinical development of IBIO-200 and the viruslike particle platform as a potential “plug-and-play” vaccine development system.
A quick timeline of iBio’s foray into COVID-19: The firm announced its virus-like particle (VLP) program (IBIO-200) and LicKM-Subunit vaccine program (IBIO-201) on March 18 and June 3, respectively. Preclinical studies were initiated following these announcements.
Looking ahead, iBio plans to continue its work with IDRI and the Texas A&M University System. The firm also expects to engage additional collaborators for further characterization and testing of IBIO-201 prior to performing GLP toxicology studies.
Excluding Wednesday’s move, iBio stock was up over 663% year to date. Over the past 52 weeks, the stock was up closer to 205%.
iBio stock traded up about 6% to $2.02 on Wednesday, in a 52-week range of $0.05 to $7.45. The consensus price target is $3.10.
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
