iBio Inc (NYSEAMERICAN: IBIO) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced the expansion of its capabilities and services. Of course, this news led to excitement among investors, sending the stock screaming for the top. Today, we’ll talk about the news, what we’re seeing from IBIO, and what we’ll be watching for ahead.
IBIO Announces Expanded Capabilities
As mentioned above, iBio is having an incredibly strong start to the trading session this morning after announcing the expansion of 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.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In this particular case, the news proved to be overwhelmingly positive. After all, the company has uncovered what could prove to become a unique medical advantage in the treatment of fibrotic disease. So, it’s no surprise to see that iBio is running for the top in the market today. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:12), IBIO is trading at $0.26 per share after a gain of $0.03 per share (14.13%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on IBIO. In particular, we’re interested in following the company’s ongoing development of its growing pipeline and learning more about the Fc fusion manufacturing capabilities announced today. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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