Although most stocks have recorded significant losses in recent weeks due to the coronavirus pandemic induced economic turmoil, some stocks have managed to go against that trend. One particular category of stocks to have done so is that of companies that are involved in developing a coronavirus vaccine. Ibio Inc (NYSEAMERICAN:IBIO) is one such stock, and since January, the stock has generated significant gains for working on the development of a COVID 19 vaccine.
The vaccine in question is IBIO 200, and it is believed that it is solely responsible for propelling the IBIO share price to $1 a share in May from $0.30 a share in January.
Considering the remarkable rally enjoyed by the stock, it is worthwhile to have a closer look at IBIO. It is now quite clear that there is a massive demand for a coronavirus vaccine, and IBIO is one among many companies that are working on such a product. In favor of IBIO, it needs to be pointed out that the company is aiming to scale up its production capabilities considerably.
In addition to that, the company has also decided to collaborate with the National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMLB) in order to boost its production capabilities.
The company’s focus on boosting production capabilities is positive for its shareholders, and the possibilities are promising as well. IBIO already owns Fast Pharming technology of its own, and once the expertise of NIIMLB is added to the mix, the company is expected to be able to raise its production capabilities at a remarkable clip.
The company’s Chief Executive Officer Tom Isett has stated that if IBIO 200 is eventually approved, then IBIO will be able to produce 500 million doses per year at its plant in Texas. That sort of figure could make the company a major player in the coronavirus vaccine space. Due to the company’s ambitious plans, market watchers are expecting good things about the stock in 2020. Sign up below for $IBIO breaking updates and other fast-moving stock alerts.