iBio Inc (NYSEMKT: IBIO)
iBio is having an incredible day in the market today after announcing that it has received notice that its application for a U.S. Patent has resulted in an issuance of the patent. Today, we’ll talk about what the patent is, how it’s affected activity in the market and what we can expect to see moving forward. So, let’s get right to it…
iBio Receives Patent
iBio announced today that it has received notice from the U.S. Patent office that its application for a monoclonal antibody has been approved and will be issued as of August 26. The antibody specified is designed to target influenza. The patent includes claims for a method of treating influenza infections through the use of monoclonal antibodies that react to the influenza neuraminidase protein; a protein that is vital for the replication and release of viral cells. Following the news, Wayne P. Fitzmaurice, Ph.D., vice president of iBio’s intellectual property had the following to say…
“The antibody covered by this patent is designed to block critical functions of the influenza virus necessary for virus replication… Current public health strategies for influenza include annual preventative vaccination and in some cases, the use of small molecule drugs for treatment of infected individuals. However, because preventive vaccination reaches only a part of the population, vaccines vary in effectiveness to prevent disease, and drug-resistant influenza strains pose increased risk, there is a global need for new, more effective therapeutic biologics that block the replication of influenza virus directly in those who become infected.”
How The Market Reacted To The News
As we’ve come to expect any time we see positive news about any financial asset, iBio is climbing in the market today. Currently (11:55), the stock is trading at $0.83 per share after a gain of 34.68% so far today.
What We Can Expect To See Moving Forward
Moving forward, I’m expecting to see a continuation of positive news. After all, iBio has been granted a patent that will become effective at the end of this month. While the company is still in research and development phase, there’s plenty of reasons for investors to get excited. Nonetheless, it’s important to remember that market movement tends to happen through a series of overreactions. So, I wouldn’t be surprised to see a slight dip from current highs before gains continue.
What Do You Think?
Where do you think IBIO is headed and why? Let us know in the comments below!