The coronavirus pandemic has been one of the biggest healthcare crises in history, and it has also had a hugely negative effect on the stock markets. The majority of stocks have declined significantly, but companies that are involved in developing coronavirus vaccines have seen their stocks soar. One such company is Ibio Inc (NYSEAMERICAN IBIO), which made a major announcement recently.
The company revealed this morning that it had signed a Memorandum of Understanding with the influential Infectious Disease Research Institute, and the two are going to work towards taking forward the work related to the coronavirus vaccine candidate.
It is a significant piece of news since the support system provided by the (IDRI) could be crucial for iBio as it tries to develop the vaccine candidate. This was possibly recognized by investors as well, and the stock soared by as much as 26% on the back of the news.
It remains to be seen whether the stock can add to its gains through the rest of the day. It could be worthwhile for investors to keep an eye on the iBio stock. IDRI will not only support the preclinical development of the product but will also manage the clinical trials that are surely going to take place later on.
Much Needed Support
iBio will be involved in providing the much-needed support structure that is necessary to develop such a vaccine. It is going to take care of the development process and the manufacturing services that are going to be crucial. It could prove to be a strong collaboration. The Chief Executive Officer and Chairman of iBio, Tom Isett, said as much.
He said that the company is “looking forward to evaluating the novel adjuvants in IDRI’s portfolio that may deliver even greater immunostimulatory effects.” If iBio decides to include one of the adjuncts in the program from IDRI, then the MoU could be amended within 60 days.