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Here is why iBio Inc (IBIO) stock turnaround in the after-hours on Thursday?

APDN

APDN

iBio Inc. (IBIO) shares gained 3.82% in after-hours on Thursday, July 15, 2021, and closed the trading at $1.36. Earlier in the normal trading session, IBIO’s stock lost 1.50% to close Thursday’s session at $1.31. IBIO shares have fallen 60.66% over the last 12 months, and they have moved down 5.76% in the past week. Over the past three months, the stock has gained 1.55%, while over the past six months, it has shed 9.03%.

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Successful Preclinical results of IBIO-202 Covid vaccine

On July 15, 2021, iBio, Inc announced that preclinical studies of IBIO-202, its subunit vaccine candidate that targets the nucleocapsid protein (“N protein”) of SARS-CoV-2, demonstrated a robust, antigen-specific, memory T-cell response.


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All commercially available COVID-19 vaccines target to neutralize the spike of S-protein but are likely to wane over time. cellular immunity achieved by S protein-directed vaccines may not be sufficient to create a durable immune response, especially in the context of emerging variant strains of the virus.

The N protein gene is more conserved and stable than the spike, with 90% amino acid homology and fewer mutations over time in contrast.

Establishing Oncology Drug Discovery

On July 08, 2021, iBio, Inc added three anti-cancer targets to its pipeline of therapeutic candidates. This development establishes the Company’s new drug discovery capabilities announced just a few weeks ago.

New Board member

On June 09, 2021, iBio, Inc appointed Evert (Eef) Schimmelpennink to its Board of Directors, effective immediately.

Mr. Schimmelpennink has more than 20 years of executive experience and he recently served as CEO of Pfenex Inc. Previously, Mr. Schimmelpennink served as CEO of AlvotechEhf, a global biopharmaceutical company.

Recent financial results

On May 17, 2021, iBio, Inc reported its financial results for the fiscal quarter ended March 31, 2021.

Q3 2021 financial highlights

Conclusion

The IBIO stock surged after the company announced successful results of its covid-19 vaccine candidate. IBIO stock can continue to surge on Friday as well.

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