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  • IBIO Stocks Rally Amid Game-Changing AI Drug Discovery Deal

    IBIO Stocks Rally Amid Game-Changing AI Drug Discovery Deal

    iBio, Inc. (NYSE: IBIO) shares are experiencing a substantial surge of 127.83% this morning on the US stock market. At the latest check during the current session, IBIO shares were trading up at $2.62. This uptick in IBIO shares follows the announcement of a groundbreaking collaboration in AI-driven drug discovery.

    Today, iBio Inc. (IBIO) has disclosed its collaboration agreement with AstralBio, Inc. This collaboration aims to discover, engineer, and develop innovative antibodies targeting obesity and other cardiometabolic disorders.

    The objective of this transformative partnership is to swiftly establish an exceptional cardiometabolic disease portfolio by leveraging iBio’s proficiency in creating antibodies for challenging targets, combined with AstralBio’s extensive experience in biologics and drug development.

    Under this agreement, iBio has exclusively licensed its AI-powered technology to identify and engineer four targets for treating cardiometabolic diseases, with AstralBio responsible for advancing candidates through pre-clinical development to Investigational New Drug (IND) application stage.

    Additionally, iBio holds the exclusive option to license three cardiometabolic targets from AstralBio, with rights for development, manufacturing, and commercialization upon exercising this option.

    Consequently, iBio and AstralBio are commencing the development of a lead program targeting the transforming growth factor beta (TGFb) superfamily for addressing muscle wasting and obesity.

    The collaboration may also be expanded to include further targets in various fields by mutual agreement. IBIO expresses confidence in the potential of AI-enabled technology to develop antibodies against challenging targets in the cardiometabolic domain.

    The company envisions the future of treating millions affected by obesity and cardiometabolic diseases globally through next-generation therapies that improve both efficacy and tolerability profiles compared to current treatments.

    Notably, the lead program targeting the TGFb superfamily aims to achieve a best-in-class profile. IBIO anticipates announcing additional novel targets promising similarly transformative outcomes in the coming months.

    Furthermore, in an equity transaction, IBIO yesterday concluded a $15 million private placement financing with ADAR1 Capital Management, Lynx1 Capital Management, Ikarian Capital, and other institutional investors.

    A portion of the net proceeds will be allocated to supporting new partnerships, such as the collaboration with AstralBio.

  • iBio, Inc. (IBIO) stock Collapse After Hours Following Fiscal Q2 2022 Results

    On February 14, iBio, Inc. (IBIO) declared its financial results for the fiscal second quarter of 2022, which ended December 31, 2021. Consequently, the stock took a hit in the after-hours and plunged down.

    It seems investors were hoping for a better result as the stock added 4.75% on positive anticipation during the regular trading. The volume of the day remained slightly above the average at 4.14 million shares. At the close of the regular session, IBIO stock had a value of $0.39 per share. Following the announcement of the results, the stock plunged down to $0.36 per share in the after hours. Shattering investors’ hopes, IBIO lost 7.81% in the after-hours on Monday.

    The biotechnology company, iBio, Inc. was founded in 1993 and is based in Bryan, TX. Currently, its 217.96 million outstanding shares trade at a market capitalization of $81.23 million. IBIO stock has declined by 28.89% year to date while it subtracted 83.87% last year.

    IBIO’s Fiscal Q2 2022

    In the fiscal Q2 2022, the company generated $0.2 million in revenues, against $0.7 million in the year-ago period. Thus, the company’s revenues declined by 76% YOY.

    Moreover, the consolidated net loss for the fiscal Q2 2022 was $11.9 million, against $8.2 million in the same quarter of last the previous year. Therefore, the net loss per basic and diluted share was $0.05 and $0.04 in fiscal Q2 2022 and 2021, respectively.

    IBIO ended the quarter with cash, cash equivalents, and debt securities of $57.4 million, which excludes restricted cash o $5.9 million.

    The company expects that this would be enough for its cash runway through September 30, 2023.

    Covid-19 Vaccine Program Updates

    On January 26, the company provided updates on IBIO-202, its lead Covid-19 vaccine program. Recently, the company received FDA’s response to its pre-investigational new drug package for IBIO-202. As per the FDA’s feedback, the company plans to commence the IND-enabling challenge studies for the second-generation vaccine candidate. Furthermore, the company intends to file an IND application with the FDA before the end of 2022.

    IBIO-202

    IBIO-202 is a second-generation vaccines candidate that targets nucleocapsid (N) protein. Currently, the commercially available first-gen vaccines target the S protein and require repeated booster doses. According to WHO, such vaccines with continuous booster dose requirements are not a sustainable solution. Additionally, evidence has shown N reactive T cells to play a protective role rather than S.

  • What Caused IBIO Stock To Rise After Hours?

    What Caused IBIO Stock To Rise After Hours?

    At last check, shares of biotech innovator and biologics contract manufacturing organization iBio Inc. (IBIO) were up 7.19% to $1.49 in after-hours trading. Thursday’s closing price for IBIO stock was $1.39, up 4.51% from the previous day’s close. IBIO stock volume on the day was reduced to 6.36 million shares from 12.29 million shares in the past 50 days. Three new antibody programs support the company’s oncology drug discovery pipeline, driving IBIO stock higher.

    What program has IBIO started?

    iBio is a global leader in plant-based biologic production. In iBio’s FastPharming System, automated hydroponics, and novel glycosylation technologies are combined to produce monoclonal antibodies, vaccines, bioinks, and other proteins. iBio is developing biopharmaceuticals that treat cancers, as well as fibrotic and infectious diseases. iBio CDMO LLC, a subsidiary of the Company, provides Contract Development and Manufacturing Services to the FastPharming business, as well as Glycaneering services related to recombinant protein design.

    Announcing the addition of three anticancer targets to its pipeline of potential therapeutics, iBio, Inc. has taken another significant step towards harnessing the speed and throughput of its proprietary, plant-based FastPharming Protein Expression System.

    • With this enhancement, IBIO expands on its new drug discovery capabilities announced just a few weeks ago.
    • By partnering with best-in-class technology providers, IBIO intends to create the FastPharming System that will reduce the time and cost to move from initial concept to clinic, which will be part of its efforts to redefine the drug development paradigm.
    • FairJourney Biologics SA (“FairJourney”), a leader in antibody optimization, has agreed to provide research services to IBIO.
    • The deal provides IBIO with access to a proprietary antibody library and novel display technologies.
    • By combining its ‘speed-to-clinic’ advantages along with Glycaneering Technologies and FairJourney’s antibody optimization technologies, IBIO may be able to rapidly develop differentiated cancer therapeutic antibodies that will be more effective against cancer cells.
    • Several undisclosed IBIO collaborations are advancing rapidly towards the clinic as a result of its antibody discovery expertise in oncology.
    • The glycosylation techniques IBIO uses to enhance human anti-cancer antibody development will enable IBIO to change the bioprocess paradigm.

    What has IBIO accomplished?

    To complement the company’s previously offered contract development and manufacturing services, IBIO is adding its own in-house drug discovery capabilities. As a result of its plant-based FastPharming System, IBIO continues to reduce the lag times and costs associated with pharmaceutical development, and at the same time, to help develop its own biopharmaceuticals to address unmet medical needs in human health and veterinary medicine.