Ibio Inc (NYSEAMERICAN:IBIO) is putting together a strong run. IBIO is up more than 30% over the last five days and more than 45% over the last month. Volume has surged for IBIO as well seeing more than a million shares trade hands on average through the last ten days. Currently, IBIO is trading at $0.29 per share after a gain of $0.035 per share or 21.63% over the past 2 sessions.
The catalyst for IBIO has been an expansion of its biotech capabilities. In a press release issued this morning, the company announced the expansion of its CDMO capabilities and services to include the development of cGMP manufacturing of Fc fusion proteins. In the release, IBIO explained that Fc fusion proteins are typically created using Chinese hamster ovary (CHO) cells. From there, these cells are combined to the active portion of a desirable protein with the naturally stable “tail portion” of an antibody protein. Once completed, the hybrid protein can exhibit important commercial and clinical advantages over both the original protein and traditional antibodies according to IBIO. In a statement, Dr. Barry Holtx, President of iBio, had the following to offer: “We have proven Fc fusion manufacturing success with our own proprietary Fc fusion protein candidate for the treatment of fibrotic disease and with other Fc fusions, and now look forward to assisting others with promising Fc fusion proteins in preclinical and early clinical development.”
Ibio Inc (NYSEAMERICAN:IBIO) is a biotechnology company. The Company is focused on commercializing its technologies and product candidates and providing product development and manufacturing services to clients and collaborators. Its technologies include iBioLaunch technology and iBioModulator. The Company’s technologies constitute a transformative platform for development and production of biologics in hydroponically grown green plants. The Company is focused on the commercialization of its plant-based protein expression technologies for vaccines and therapeutic proteins and on developing and commercializing select biopharmaceutical product candidates. The Company’s technology is applicable in a range of product candidates, including products against fibrotic diseases, vaccines, enzyme replacements, monoclonal antibodies, and recombinant versions of marketed products that are derived from human blood plasma.
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According to the company, numerous Fc fusion proteins have been approved by the FDA for a range of applications including colorectal cancer, macular degeneration, hemophilia, and others. Additional Fc fusion proteins are in various stages of research and clinical development.
This technology is appealing as most Fc Fusions are made from Chinese hamsters and IBIO’s plant-based formulation is not made from mammals, obviously, and cannot be contaminated with viruses or other modalities.
Ibio Inc (NYSEAMERICAN:IBIO) has a market cap of 32.04M and a float of 105.61M. IBIO is worth watching as this news continues to play with traders. IBIO has room to grow here and might be signaling that it is undervalued. We will be writing updates here as soon as they come available. Sign-up for continuing coverage on shares of $IBIO stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $IBIO, either long or short, and we have not been compensated for this article.