IBIO Stock – Over 30% Increase Intraday Explanation
- The stock price of iBio, Inc. (NYSEA:IBIO) increased by over 30% during at the opening of the stock market today. This is why it happened.
The stock price of iBio, Inc. (NYSEA:IBIO) – a biotech innovator and biologics contract manufacturing organization – increased by over 30% during at the opening of the stock market today. Investors are responding positively to the company providing an update on its IBIO-201 program and reported on its progress in developing a second-generation subunit vaccine candidate, IBIO-202, being designed for the prevention of SARS-CoV-2 infection.
IBIO-201 – the company’s vaccine candidate combining antigens derived from the spike protein (“S protein”) fused with iBio’s patented LicKM booster molecule – recently completed IND-enabling toxicology studies. The studies identified no adverse effects at low or high doses.
The company also reported on development of IBIO-202, a subunit vaccine candidate that targets the nucleocapsid protein (“N protein”) of SARS-CoV-2. N proteins of many coronaviruses are considered highly immunogenic and are expressed abundantly during infection. Plus the N protein is more highly conserved than the S protein, and so new viral variants may be less likely to escape vaccine protection.
Using the company’s plant-based FastPharming System, iBio has successfully expressed N protein antigens and has initiated both intramuscular and intranasal preclinical studies to identify favorable antigen-adjuvant combinations. And results are expected in early Q1 FY2022. iBio recently filed four provisional patent applications with the U.S. Patent and Trademark Office in support of the IBIO-202 program.
In parallel with the development of IBIO-202, the company is continuing to evaluate the potential of a multi-subunit vaccine candidate to further increase vaccine protection from variants by targeting two or more important elements of the SARS-CoV-2 virus.
“Combined with data from previous immune-response studies, these pathology results help demonstrate the potential value of LicKM as a useful tool in our vaccine development toolbox.”
“In light of the successful global roll-out of COVID-19 vaccines targeting the S protein and the emergence of variant strains of the disease, we decided to focus our efforts on the continued development of IBIO-202 as a differentiated vaccine candidate,” commented Mr. Isett. “The COVID-19 vaccine space remains highly competitive, with multiple approved vaccines in use in many countries. Nevertheless, various unmet needs remain, including: vaccines that provide broader protection against variants; the potential requirement for annual vaccine boosters; vaccines that do not require significant cold chain management; vaccines with alternative routes of administration; pan-coronavirus vaccines; and wider vaccine availability in developing countries.”Apple-converted-space”>
— Tom Isett, Chairman and CEO of iBio
“Immunization with more conserved sequences, such as the N protein, is expected to generate T-cells that could clear spike protein variant viruses in addition to the original virus. The N protein strategy of IBIO-202 is complementary to existing first-generation, S protein-directed vaccines and may be suitable as a more universal coronavirus vaccine.”
— Martin Brenner, DVM. Ph.D., iBio’s CSO
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.